IN BRIEF
From January to 30 September 2026, Shimano reports a 4.6% rise in sales at its bicycle components division, to 278.4 billion yen, and a 10.9% rise in its operating income. The group, fishing included, posts 375.2 billion yen in sales (+6.9%). Shimano is raising its full-year forecasts and says sales of complete bikes remain “solid” in Europe.
| Bicycle division sales (9 months) | 278,361 million yen, +4.6% |
| Bicycle division operating income | 33,440 million yen, +10.9% |
| Group sales | 375,248 million yen, +6.9% |
| Group operating income | 44,532 million yen, +21.8% |
| Group net income | 40,022 million yen, +148.5% |
At Shimano, part of the size of the increase comes from currency: exchange rate movements added 18,552 million yen to the group’s reported sales over the period, at an average rate of 158.61 yen to the dollar.
Shimano: a bike market seen as broadly solid, except in North America and Japan
In its commentary, Shimano sums up the situation as follows:
“Amid continued strong interest in bicycles as a long-term trend, retail sales of completed bicycles remained generally solid, despite the impact of global inflation, and adjustments of market inventories made gradual progress.”
Shimano, commentary on results to the end of September 2026
In Europe, Shimano says sales of complete bikes remained “solid.” In North America, by contrast, Shimano says retail sales of complete bikes remained weak, against an uncertain economic outlook and “stubbornly” high prices due to tariffs, with inventories at an appropriate level; in Japan too, Shimano describes sales that remained weak in the face of high prices, and appropriate inventories. In Asia and Central and South America, retail sales are starting to recover, but inventories remain at “a somewhat high level.”
Forecasts raised
Shimano is raising its forecasts for the full financial year: by 0.9% for group sales, 15.5% for operating income and 9.3% for net income.
