Shimano : Supplemental Information FY2023-Q3

October 22, 2023

10/24/2023

Supplemental Information

Consolidated Profit & Loss Account Comparison （FY2023 Revised Schedule vs. FY2022 Results）
Consolidated Profit & Loss Account Comparison （FY2023 Revised Schedule vs. FY2023 Previous Schedule)
Operating Income by Segment
Sales By Shipment Destination / Manufactory Location / Currencies Capital Investment / Depreciation and Amortization
Quarterly Sales and Operating Income
Consolidated Sales, Operating Income and Net Income Attributable to Owners of Parent
ROA & ROE
Total Assets & Shareholders' Equity Treasury Stock Acquired Dividends per Share
Bicycle Components Sales (by Shipment Destination)
Fishing Tackle Sales

Shimano Inc.

The forecasts of consolidated business performance and other forward-looking statements contained in this document are based on information currently available to the Company and certain assumptions that management believes reasonable and actual business performance may differ materially from those described in such statements due to various factors.

＊＊＊ CONSOLIDATED PROFIT AND LOSS ACCOUNT COMPARISON ＊＊＊

10/24/2023 (million JPY)

				2022 Results		2023 Revised Schedule (10/24/2023)				Comparison
			1st Half	2nd Half	Total	1st Half	2nd Half	Total		1st half diff.	2nd half diff.	Annual diff.
	Japan		6,463	5,975	12,438	5,779	4,221	10,000		-684	-10.6%	-1,754	-29.4%	-2,438	-19.6%
	Overseas		242,740	262,259	504,999	199,208	146,792	346,000		-43,533	-17.9%	-115,466	-44.0%	-158,999	-31.5%
	North America	17,409	13,860	31,269	10,449	8,551	19,000		-6,960	-40.0%	-5,309	-38.3%	-12,269	-39.2%
Bicycle	Europe		135,317	153,181	288,498	112,781	76,219	189,000		-22,535	-16.7%	-76,963	-50.2%	-99,498	-34.5%
Components	China		28,652	29,397	58,049	28,540	25,460	54,000		-112	-0.4%	-3,937	-13.4%	-4,049	-7.0%
	Taiwan		25,155	30,854	56,009	23,784	19,216	43,000		-1,372	-5.5%	-11,638	-37.7%	-13,009	-23.2%
	Others		36,207	34,967	71,173	23,653	17,347	41,000		-12,554	-34.7%	-17,620	-50.4%	-30,173	-42.4%

	*	Total	249,203	268,234	517,437	204,987	151,013	356,000		-44,216	-17.7%	-117,220	-43.7%	-161,437	-31.2%
Fishing	Japan		21,041	20,461	41,502	20,723	19,277	40,000		-318	-1.5%	-1,184	-5.8%	-1,502	-3.6%
Overseas		33,194	36,297	69,491	37,305	28,195	65,500		4,111	12.4%	-8,102	-22.3%	-3,991	-5.7%
Tackle
*	Total	54,235	56,758	110,993	58,028	47,472	105,500		3,793	7.0%	-9,286	-16.4%	-5,493	-4.9%

Others			248	232	480	236	264	500		-12	-4.9%	32	13.9%	20	4.2%
Sales Total			303,687	325,223	628,910	263,251	198,749	462,000		-40,436	-13.3%	-126,474	-38.9%	-166,910	-26.5%
	Profit ratio(%)	42.1	42.3	42.2	39.3	36.0	37.9	-2.8			-6.3		-4.3
Gross profit			127,951	137,694	265,645	103,432	71,568	175,000		-24,520	-19.2%	-66,126	-48.0%	-90,645	-34.1%
Selling, general and administrative exp.	47,042	49,445	96,486	49,523	48,477	98,000		2,482	5.3%	-968	-2.0%	1,514	1.6%
			26.6	27.1	26.9	20.5	11.6	16.7	-6.1			-15.5		-10.2

Operating income		80,909	88,250	169,159	53,908	23,092	77,000		-27,001	-33.4%	-65,158	-73.8%	-92,159	-54.5%
Non operating income & exp, net	11,214	-3,804	7,410	14,502	13,498	28,000		3,288	－	17,302	－	20,590	－
			30.3	26.0	28.1	26.0	18.4	22.7	-4.3			-7.6		-5.4

Ordinary income		92,123	84,446	176,569	68,410	36,590	105,000		-23,713	-25.7%	-47,855	-56.7%	-71,569	-40.5%
Extraordinary gain (loss)		-1,840	-616	-2,456	-323	-17,977	-18,300		1,517	－	-17,361	－	-15,844	－
			29.7	25.8	27.7	25.9	9.4	18.8	-3.8			-16.4		-8.9
Net income before income taxes	90,283	83,830	174,112	68,086	18,614	86,700		-22,197	-24.6%	-65,216	-77.8%	-87,412	-50.2%
Income taxes			21,724	24,210	45,933	17,708	2,992	20,700		-4,016	-18.5%	-21,217	-87.6%	-25,233	-54.9%
Net income attributable to		22.6	18.3	20.4	19.1	7.9	14.3	-3.5			-10.4		-6.1
owners of parent		68,559	59,620	128,179	50,379	15,621	66,000		-18,180	-26.5%	-43,999	-73.8%	-62,179	-48.5%

* Bicycle components Sales and Fishing Tackle Sales indicate amount of sales which is divided into destinations where the products are shipped.

＊＊＊ CONSOLIDATED PROFIT AND LOSS ACCOUNT COMPARISON ＊＊＊

10/24/2023 (million JPY)

			2023 Previous Schedule (7/25/2023)	2023 Revised Schedule (10/24/2023)				Comparison
			1st Half	2nd Half	Total	1st Half	2nd Half	Total		1st half diff.	2nd half diff.	Annual diff.
	Japan		5,779	4,221	10,000	5,779	4,221	10,000		0	0.0%	0	0.0%	0	0.0%
	Overseas		199,208	136,792	336,000	199,208	146,792	346,000		0	0.0%	10,000	7.3%	10,000	3.0%
	North America	10,449	7,551	18,000	10,449	8,551	19,000		0	0.0%	1,000	13.2%	1,000	5.6%
Bicycle	Europe		112,781	74,219	187,000	112,781	76,219	189,000		0	0.0%	2,000	2.7%	2,000	1.1%
Components	China		28,540	21,460	50,000	28,540	25,460	54,000		0	0.0%	4,000	18.6%	4,000	8.0%
	Taiwan		23,784	18,216	42,000	23,784	19,216	43,000		0	0.0%	1,000	5.5%	1,000	2.4%
	Others		23,653	15,347	39,000	23,653	17,347	41,000		0	0.0%	2,000	13.0%	2,000	5.1%

	*	Total	204,987	141,013	346,000	204,987	151,013	356,000		0	0.0%	10,000	7.1%	10,000	2.9%
Fishing	Japan		20,723	19,277	40,000	20,723	19,277	40,000		0	0.0%	0	0.0%	0	0.0%
Overseas		37,305	26,195	63,500	37,305	28,195	65,500		0	0.0%	2,000	7.6%	2,000	3.1%
Tackle
*	Total	58,028	45,472	103,500	58,028	47,472	105,500		0	0.0%	2,000	4.4%	2,000	1.9%

Others			236	264	500	236	264	500		0	0.0%	0	0.0%	0	0.0%
Sales Total			263,251	186,749	450,000	263,251	198,749	462,000		0	0.0%	12,000	6.4%	12,000	2.7%
	Profit ratio(%)	39.3	34.2	37.2	39.3	36.0	37.9	0.0			1.8		0.7
Gross profit			103,432	63,868	167,300	103,432	71,568	175,000		0	0.0%	7,700	12.1%	7,700	4.6%
Selling, general and administrative exp.	49,523	47,777	97,300	49,523	48,477	98,000		0	0.0%	700	1.5%	700	0.7%
			20.5	8.6	15.6	20.5	11.6	16.7	0.0			3.0		1.1

Operating income		53,908	16,092	70,000	53,908	23,092	77,000		0	0.0%	7,000	43.5%	7,000	10.0%
Non operating income & exp, net	14,502	8,498	23,000	14,502	13,498	28,000		0	－	5,000	－	5,000	－
			26.0	13.2	20.7	26.0	18.4	22.7	0.0			5.2		2.0

Ordinary income		68,410	24,590	93,000	68,410	36,590	105,000		0	0.0%	12,000	48.8%	12,000	12.9%
Extraordinary gain (loss)		-323	-677	-1,000	-323	-17,977	-18,300		0	－	-17,300	－	-17,300	－
			25.9	12.8	20.4	25.9	9.4	18.8	0.0			-3.4		-1.6
Net income before income taxes	68,086	23,914	92,000	68,086	18,614	86,700		0	0.0%	-5,300	-22.2%	-5,300	-5.8%
Income taxes			17,708	5,292	23,000	17,708	2,992	20,700		0	0.0%	-2,300	-43.5%	-2,300	-10.0%
Net income attributable to		19.1	10.0	15.3	19.1	7.9	14.3	0.0			-2.1		-1.0
owners of parent		50,379	18,621	69,000	50,379	15,621	66,000		0	0.0%	-3,000	-16.1%	-3,000	-4.3%

* Bicycle components Sales and Fishing Tackle Sales indicate amount of sales which is divided into destinations where the products are shipped.

OPERATING INCOME BY SEGMENT

				(million JPY)
		Bike	Fishing	Others	Total
23	Sales	356,000	105,500	500	462,000
Operating income	59,000	18,000	0	77,000
(S)
Profit ratio	16.6%	17.1%	0.0%	16.7%

22	Sales	517,437	110,993	480	628,910
Operating income	144,994	24,163	1	169,159
	Profit ratio	28.0%	21.8%	0.3%	26.9%
21	Sales	443,679	102,389	448	546,515
Operating income	125,147	23,121	21	148,288
	Profit ratio	28.2%	22.6%	4.6%	27.1%
20	Sales	297,777	79,907	356	378,040
Operating income	68,494	14,264	-57	82,701
	Profit ratio	23.0%	17.9%	-16.1%	21.9%
19	Sales	290,039	72,838	353	363,231
Operating income	57,851	10,220	-60	68,010
	Profit ratio	19.9%	14.0%	-17.0%	18.7%
18	Sales	277,243	70,436	356	348,036
Operating income	57,251	8,545	-107	65,688
	Profit ratio	20.6%	12.1%	-30.1%	18.9%
17	Sales	270,207	65,221	373	335,801
Operating income	57,410	7,013	-72	64,351
	Profit ratio	21.2%	10.8%	-19.4%	19.2%
16	Sales	259,455	63,144	400	322,999
Operating income	57,875	6,842	-170	64,546
	Profit ratio	22.3%	10.8%	-42.7%	20.0%
15	Sales	314,010	64,245	390	378,646
Operating income	79,817	5,372	-136	85,054
	Profit ratio	25.4%	8.4%	-34.7%	22.5%
14	Sales	273,956	58,825	387	333,168
Operating income	62,033	3,943	-160	65,816
	Profit ratio	22.6%	6.7%	-41.4%	19.8%
13	Sales	217,263	53,398	376	271,037
Operating income	39,506	2,405	-135	41,776
	Profit ratio	18.2%	4.5%	-35.9%	15.4%
12	Sales	198,191	47,234	419	245,844
Operating income	39,013	2,275	-327	40,961
	Profit ratio	19.7%	4.8%	-77.9%	16.7%

SALES BY SHIPMENT DESTINATION(#1) / MANUFACTORY LOCATION(#2) / CURRENCIES(#3)

(million JPY)

		22 Results	23-1H Results	23-2H Schedule		23 Schedule
	Sales	628,910	100.0%	263,251	100.0%	198,749	100.0%		462,000	100.0%
#1	Domestic market	54,383	8.6%	26,722	10.2%	23,778	12.0%		50,500	10.9%
	Overseas market	574,526	91.4%	236,528	89.8%	174,972	88.0%		411,500	89.1%
#2	Domestic production	304,581	48.4%	135,297	51.4%	119,703	60.2%		255,000	55.2%
	Overseas production	324,329	51.6%	127,953	48.6%	79,046	39.8%		207,000	44.8%
#3	Sales in Yen	273,908	43.6%	118,667	45.1%	115,133	57.9%		233,800	50.6%
	Sales in foreign currency	355,002	56.4%	144,583	54.9%	83,617	42.1%		228,200	49.4%
	USD average rate	131.62		135.00		145.00			140.00
	EUR average rate	138.14		145.93		154.07			150.00
	CAPITAL INVESTMENT / DEPRECIATION AND AMORTIZATION	(million JPY)

		23 Results	23-1H Results	23-2H Schedule		23 Schedule
Capital Investment		27,763		10,652		29,348			40,000
Depreciation and amortization		20,529		11,286		10,714			22,000
	QUARTERLY SALES AND OPERATING INCOME	(million JPY)

		1Q	2Q	1H	3Q	4Q	2H		Total
'23 Sales (Schedule)	126,072	137,179	263,251	112,013	86,736	198,749		462,000
	Bicycle Components	98,298	106,689	204,987	84,457	66,557	151,013		356,000
	Fishing Tackle	27,670	30,358	58,028	27,445	20,027	47,472		105,500
	Others	103	133	236	112	152	264		500
'23 Operating Income (Schedule)	28,010	25,898	53,908	18,179	4,913	23,092		77,000
	Bicycle Components	22,123	19,970	42,093	13,825	3,082	16,907		59,000
	Fishing Tackle	5,895	5,949	11,844	4,356	1,800	6,156		18,000
	Others	-8	-21	-29	-2	31	29		0
'22 Sales (Results)	144,048	159,639	303,687	163,979	161,245	325,223		628,910
	Bicycle Components	118,176	131,027	249,203	135,451	132,783	268,234		517,437
	Fishing Tackle	25,767	28,468	54,235	28,419	28,339	56,758		110,993
	Others	105	144	248	109	123	232		480
'22 Operating Income (Results)	38,033	42,876	80,909	45,668	42,582	88,250		169,159
	Bicycle Components	32,456	37,125	69,581	39,538	35,875	75,413		144,994
	Fishing Tackle	5,565	5,770	11,335	6,147	6,681	12,828		24,163
	Others	13	-20	-7	-18	26	8		1

Consolidated Sales/Operating Income/Net Income Attributable to Owners of Parent

（x100 million Yen）																	(Yen)
6,500			Operating Income												6,289			1,600.00
6,000			Sales
		Net Income Attributable to Owners of Parent

5,500			Basic Earnings per Share										5,465	1,408.22			1,400.00
															1,252.62

5,000																				1,200.00
																			4,620

4,500
4,000							3,786							3,780					1,000.00

												3,632
													3,480
3,500						3,332	821.87			3,358
					3,230
																		800.00
																		730.77
3,000															684.71
			2,710

2,500	2,458				552.70			549.76		581.77	559.15						600.00

2,000											414.69						1,692
				378.50
														1,483				400.00
1,500																1,282
296.50														1,159


1,000						658	851	762	645		644	657		680	827			770	660	200.00
									635
								510	539
500	410			418	351	512				384		518
275

0	2012		2013	2014	2015	2016	2017		2018	2019	2020	2021	2022	2023(S)	0.00

												4

(％)					ROA & ROE
25.0
		ROA	ROE	21.7
								20.2
										18.9
20.0
			17.1	18.4
		14.5							17.9
15.0	13.9								16.7
		13.4
				12.2		12.5
			14.3				11.0


10.0	11.6	12.2			11.7	9.4	10.9		11.2
				9.9


						8.2
5.0
0.0	12	13	14	15	16	17	18	19	20	21	22

(Unit 1,000 Shares)

Treasury Stock Acquired

(Mil. Shares)

6,000													120
		Annual Acquisition(LHS)	Accumulated Acquisition(RHS)		Common Stock Issued(RHS)
										(excluding Treasury Stock)
5,000													100
4,000													80
3,000													60
2,000													40
1,000													20
0	12	13	14	15	16	17	18	19	20	21	22	23-3Q	0

(Mil. Yen)

Total Assets & Shareholders' Equity

(%)

(Yen)

Dividends per Share

850,000			100.0
800,000	Total Assets	Shareholders' Equity	Equity Ratio	350
750,000


700,000			90.0	300
650,000
600,000				250
550,000			80.0
500,000				200
450,000
400,000			70.0	150
350,000
300,000				100
250,000			60.0
200,000				50
150,000
100,000			50.0	0

105

155

200

155 155 155 155 155

		285
	260

235

23(S)

* In FY2020, a commemorative dividend for the 100th anniversary of Company's founding was included.

(x100 million Yen)					Bicycle Components Sales (by Shipment Destination)
5,500				Japan																5,174





5,000				North America																124
																			313

				Europe
4,500																	4,437



			China

																		101

4,000				Taiwan															275


			Others																		3,560




3,500
																						100
								3,140														2,885		190
																2,978


3,000								99							2,900		2,169

					2,740		251					2,772		82
								2,595	2,702		82		224
												209
							94						103
										100
							225							209
2,500										95		213
1,982	2,173			1,355		209												1,890





2,000			85
	214													1,411

76				1,120										1,426
		195								1,150		1,199		1,315


1,500																				567		580

				856

		782						556
																							540
																		498
																		410
1,000							592					449				345				560


									439			370
				430
		356

							487								450		416						430
													421
500							396			377		367
	330			332												826

																	435			712		410
									392				373				389
							313			324			353
0		242			255


	2012		2013		2014	2015	2016	2017	2018	2019	2020	2021	2022	2023(S)

Bicycle components Sales indicate amount of sales which is divided into destinations where the products are shipped.

(x100 million Yen)										Fishing Tackle Sales

1,200																						1,110

1,100
				Japan														1,024			1,055


1,000


				Overseas
900																					415



																			799				400
800																				447
															704	728


700										642	631	652





600								588									365



					534										305	322

500		472								246		271		279
						235
400							226
	215																		695		655




300



																					577

200											396				373	399		406		434

								354			360
							308
		257
100

0
	2012	2013	2014	2015	2016	2017	2018		2019	2020	2021	2022	2023(S)

Fishing Tackle Sales indicate amount of sales which is divided into destinations where the products are shipped.

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Disclaimer

Shimano Inc. published this content on 23 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2023 14:08:49 UTC.

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1st Jan change

Capi.

SHIMANO INC.

+14.95%

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MERIDA INDUSTRY CO., LTD.

+29.32%

2.16B

ZHONGLU.CO.,LTD

+98.08%

830M

KMC (KUEI MENG) INTERNATIONAL INC.

+7.98%

548M

SHANGHAI PHOENIX ENTERPRISE (GROUP) CO., LTD.

-14.51%

468M

JOY KIE CORPORATION LIMITED

-19.66%

380M

HL CORP (SHENZHEN)

-30.25%

230M

INNOX CORPORATION

-18.66%

129M

LEE CHI ENTERPRISES COMPANY LTD.

+4.82%

112M

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+383.55%

99.94M

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-26 am EDT			5-day change	1st Jan Change
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Apr. 24	Shimano Shares Rise Sharply After Guidance Upgrade on China Road Bike Demand	DJ
Apr. 23	Shimano’s Attributable Profit Jumps 17.2% in Fiscal Q1	MT

Shimano Shares Rise Sharply After Guidance Upgrade on China Road Bike Demand	Apr. 23	DJ
Shimano’s Attributable Profit Jumps 17.2% in Fiscal Q1	Apr. 23	MT
Shimano Inc. announces an Equity Buyback for 1,000,000 shares, representing 1.11% for ¥26,000 million.	Apr. 23	CI
Shimano Inc. authorizes a Buyback Plan.	Apr. 22	CI
Shimano Attributable Profit Down 52.3% in 2023 on Price Hikes, Sluggish Demand	Feb. 13	MT
Shimano Inc. Announces Dividend for the Fiscal Year Ended December 31, 2023, Payable on March 28, 2024; Provides Dividend Guidance for the Second Quarter and Full Year of 2024	Feb. 13	CI
Shimano Inc. Provides Earnings Guidance for the First Half and Full Fiscal Year 2024	Feb. 13	CI
Shimano's Nine-Month Profit Slumps 47%	23-10-24	MT
Shimano Inc. Revises Consolidated Earnings Guidance for the Fiscal Year Ending December 31, 2023	23-10-24	CI
Shimano Inc. Provides Year-End Dividend Guidance for the Fiscal Year Ending December 31, 2023	23-10-24	CI
Shimano's Attributable Net Income Falls 26.5% in H1 on Weaker Demand; Shares Down 3%	23-07-25	MT
Shimano Shares Slump After It Cuts Profit Guidance, Sees High Inventory	23-07-25	DJ
Shimano Inc. Provides Dividend Guidance for the Year Ending December 31, 2023	23-07-25	CI
Shimano Inc. Provides Consolidated Earnings Guidance for the Fiscal Year Ending December 31, 2023	23-07-25	CI
Shimano Inc. Announces Dividend for the Second Quarter Ended June 30, 2023, Payable on September 4, 2023	23-07-25	CI
Shimano's Q1 Profit Drops 29.7%; Shares Slip 10%	23-04-26	MT
Shimano Shares Skid After It Posts Net-Profit Drop, Lowers Guidance	23-04-25	DJ
Shimano Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023	23-04-25	CI
Shimano Inc. announces an Equity Buyback for 700,000 shares, representing 0.77% for ¥17,500 million.	23-04-25	CI
Shimano Inc. Announces Dividend for the Second Quarter and Full Year Ended December 31, 2022, Provides Dividend Guidance for the Year Ending December 31, 2023	23-04-25	CI
Shimano Inc. Provides Dividend Guidance for the Second Quarter of the Year Ending December 31, 2023	23-04-25	CI
Shimano Inc. Provides Earnings Guidance for the First Half and Full Fiscal Year 2023	23-04-25	CI
Shimano Inc. authorizes a Buyback Plan.	23-04-24	CI
Shimano Inc.'s Equity Buyback announced on April 26, 2022, has expired.	23-03-30	CI
Kuehne+Nagel to Launch Distribution Center for Japanese Cycling Group Shimano in Belgium	22-12-28	MT

Shimano Inc.

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Shimano : Supplemental Information FY2023-Q3

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