Shimano fishing tackle sales surge 38.4% in first half of year
Operating income from Shimano fishing tackle in the first half of this year surged to a 108.5% improvement over the same period last year. Net sales increased by 38.4%.
Operating income in value totaled 12,033 million yen (USD $109 million) and sales totaled 51,877 million yen (USD $471 million).
Based on current demand and sales, Shimano has revised its forecast for the year ending December 31st, 2021. Operating income from fishing is now predicted at 124.5 million yen (up 18.6%) and net sales are expected to be 500,000 million yen (up 9.8%).
A company statement announcing the results said that sales were driven by the growing number of COVID vaccinations worldwide that in turn led to the rising popularity of fishing and thriving markets.
Buoyed by the popularity of outdoor activities and firm demand, sales remained favourable in the Japanese market, while in North America sales of mid-range and ‘popular’ price products like rod and reel combos for beginners and families, as well as consumables such as fishing lines, were positive.
In Europe, sales were solid in the major markets of the UK and Germany following the deregulation of over-the-counter sales after the lifting of lockdown. Online sales also performed well.
Strong sales in Asia reflected the strong demand for and stable growth of fishing in the Chinese market, while in Australia, good weather and expectations of economic recovery, produced solid sales centred around game fishing products.
New products including the Antares DC (pictured) and SLX MGL baitfishing reels, Ultegra spinning reels and Rinkai Special rods, along with existing products such the Vanford and Saragosa SW spinning reels were all well received.