Shimano's sales rise but profits fall
Shimano reported a 5% rise in its bike component sales to ¥266.2bn (about US$1.75bn) for the first nine months of 2025, but at the same time, its operating profit fell 27% to ¥30.2bn (about US$200m) compared to the year prior. The Japanese component giant attributed the results to excess stock, mainly in the European market, and a weak currency that squeezed the margins further.
Shimano said that even though Europe retained steady bike sales, the inventories remained "somewhat high". In North America, sales were weaker due to the economic uncertainty, but stock levels were more "appropriate", while in China, a slowdown in sales kept the inventory high, according to Shimano.
Across the wider Shimano group, results were not much better; revenue rose 4.8%, but net profit dropped 61% to ¥16.1bn (about US$105m). Much of that was due to the ¥18.4bn (about $120m) foreign-exchange valuation losses, roughly double last year, as the Japanese yen continued its decline.
Following the results, Shimano kept its full-year forecast unchanged, expecting its 2025 revenue to be up 2%, operating profit down 29%, and net profit down 60%.
