Last year's financial results for the Osaka manufacturer Shimano, which has a global share of bicycle parts, were finalized as demand for bicycles increased worldwide to avoid denseness due to the spread of the new coronavirus infection. Profit was the second highest level ever.
Headquartered in Sakai City, Osaka, Shimano mainly manufactures parts such as transmissions and brakes for sports-type bicycles, and has a global market share.
According to the company's financial results for the past year announced on the 9th, sales increased 4.1% from the previous year to 378 billion yen, and the final profit increased 22.5% to 63.4 billion yen.
Both sales and final profit were the second highest ever after 2015, when both were strong due to the bicycle boom in China.
With the spread of the new corona infection, the demand for bicycles increased to avoid denseness, and sales of parts expanded mainly in the United States and Europe.
The company expects this trend to continue, with sales and final profits set at record highs for the year.