Shimano sees slowdown in fishing tackle sales

Shimano’s fishing tackle sales slowed in the first half of this year, but still showed a 4.5% increase over the same period last year, climbing to ¥54,235. Operating income fell 5.8% to ¥11.335.

The Japanese company attributed the figures mainly to soaring resource prices caused by the situation in Ukraine, rising inflation and the Chinese economy.

Under these changing market conditions, new products including Stella spinning reels and the double spindle Aldebaran BFS (pictured) were well-received. Aero Technium MGS reels, Grappler offshore and other products continued to make a big contribution.

“Strong interest in fishing that attracted attention globally showed signs of cooling down,” said Shimano in its half-yearly report. “In the Japanese market, while there were signs of a lull in the movement of products for families and beginners, sales of high and mid-priced products were strong.

“Despite concerns about inflation in the North American market, demand for fishing tackle remained positive and sales were favourable.

“In Europe, sales stayed firm despite the prolonged situation in Ukraine that affected neighbouring countries. In Asia, while sales in the Korean and Taiwanese markets remained strong, sales in China were affected by restrictions on activities due to lockdowns.

“Sales in the Australian market remained firm despite natural disasters such as flooding on the East Coast.”

Shimano, which celebrated its 100th anniversary in 2021, maintained its full year guidance for sales and operating income.