Shimano gains sales despite cooling interest in fishing
A cooling down in interest in fishing has not stopped Shimano from reporting strong sales and profit performances for the first nine months of this financial year.
Driven by sales of hero products like the Ultegra XTE (pictured), Stella and Beastmaster MD reels, net sales for the company’s fishing business rose 9% to 82,653m yen, while profit increased 1.7% to 17,482m yen compared to the same period in 2021.
In Japan, Shimano’s domestic market, sales of mid to high-priced products remained strong, but items for families and beginners slowed down, with typhoons and other factors having an impact.
Demand for saltwater products remained high in North America but logistics disruptions and prolonged inflation had a negative effect on sales.
Similarly, logistics issues and high inflation in the UK resulted in stagnation in the European market. However, demand remained firm in some parts of Eastern Europe and sales were strong.
The most favourable results in Asia came from the Taiwanese and South East markets, where demand for tackle is increasing, and in China, where recovery from the effects of lockdowns and easing of the zero-COVID policy is showing benefits.