Shimano posted Q1 sales of ¥117.6 bn, up 4% YoY, beating its ¥109.0 bn guidance, helped by yen weakness.
Operating profit fell 36% YoY to ¥10.4 bn, missing the ¥11.2 bn target and Bloomberg’s ¥12.5 bn estimate.
Bicycle component sales were ¥87.4 bn, down 1% YoY, but above the ¥80.0 bn forecast, with an 8.9% margin.
Fishing equipment revenue rose 18% YoY to ¥30.2 bn, yet operating profit of ¥2.6 bn missed the ¥2.8 bn guidance.