Shimano Inc. raised its earnings guidance significantly for 2015 Tuesday after reporting net sales increased 19.0 percent to ¥286.80 billion for the first nine months of fiscal year 2015, compared with the same period of the previous year.
Operating income increased 35.7 percent to ¥65.1 billion, ordinary income increased 74.2 percent to ¥84.0 billion, and net income increased 86.7 percent to ¥64.7 billion yen.
The growth was lead by the company's Bicycle Components segment, where net sales increased 21.0 percent compared with the first three quarters of 2014 to ¥237.7 billion, and operating income increased 37.0 percent to ¥61.2 billion.
Revenues at the company's Fishing Tackle segment increased 10.2 percent to ¥48.8 billion, and operating income increased 18.8 percent to ¥4.0 billion.
Shimano revised its forecast for the full fiscal year ending Dec. 31, 2015 and now expects net sales to grow 10.5 percent to ¥368 billion compared to the 8.1 percent forecast in late July. Operating income is now expect to grow 22.3 percent compared with 17.0 percent to ¥80.5 billion. The company forecasts ordinary income will grow 40.1 percent to ¥99.5 billion compared with 14.5 percent forecast in July, while net income is now expected to grew 48.3 percent to ¥76.0 billion, compared with 16.1 percent.
