Shimano posts half-year sales rise despite challenging market

Tackle giant Shimano has shown that it is outperforming the market by reporting an increase in tackle sales in the first half of 2023.

Despite a challenging fishing sales environment following the pandemic hiatus, Shimano said that interest in fishing continued. Its revenue increased by 7.7% to 58,027m yen and operating income by 4.5% to 11.843m yen.

Shimano’s much larger bicycle components business endured a tougher time and posted a 13% decrease in sales, resulting in a group-wide 13.3% fall in revenue and a 33.4% drop in operating income.

In its domestic market of Japan, Shimano reported a strong willingness by anglers to buy new products with firm demand for high-priced items.

Demand for tackle cooled in North América while sales remained strong, backed by stable demand, across Europe.

In Asia, sales continued to be favourable supported by a ‘spread’ of the fishing culture and a strong interest in the sport. The Australian market started with favourable market conditions, but became stagnant due to slowing demand.

Shimano reported brisk order-taking for the new Vanquish spinning reels and its highest-end World Shaula Limited lure rods.