Shimano reports rise in fishing tackle sales

Shimano’s Ultegra XTE reels helped it grow 2022 tackle sales.

Global tackle giant Shimano has seen sales grow for the first nine months of 2022 by more than 18 per cent – with fishing equipment sales up nine per cent on the previous year.

The overall figure – which meant net sales reached ¥467,665 million up to September – also included a rise of 20.6 per cent in its bicycle division.

Shimano’s financial statement said: “During the first nine months of fiscal year 2022, the pace of global economic recovery slowed primarily because prices soared due to resource and energy supply constraints and rising resource prices caused by the situation in Ukraine, and central banks in various countries took steps to raise interest rates sharply to curb accelerating inflation”

Net sales from tackle sector increased to ¥82,653 million, up nine per cent from the same period last year while operating income increased 1.7 per cent to ¥17,482 million.

Shimano said: “Strong interest in fishing that attracted attention globally showed signs of cooling down.

“In the Japanese market, sales of mid- to high-priced products remained strong, although sales of popularly priced products for families and beginners slowed down and there were impacts from typhoons and other factors as well.

“Overseas, in the North American market, although demand remained high for saltwater products, sales lacked strength under logistics disruption and prolonged inflation.

“In the European market, although logistics concerns and high inflation in the UK caused a sense of stagnation in the market, there were signs of firm demand in some areas of Eastern Europe, and sales remained strong.

“In the Asian market, sales were favourable in Taiwan and Southeast Asia, where demand for fishing tackle is expanding, and in the Chinese market, which has recovered from the effects of lockdowns, partly due to the easing of the zero-COVID policy. In Australia. sales remained firm in preparation for the full-fledged fishing season.”

It said new products such as its Ultegra XTE spinning reels, Beastmaster MD and Stella reels all contributed to this growth.