Shimano's latest financial results reveal a £70 million cost for its ongoing crank recall and inspection program in 2024. The company's bicycle component sales also saw a 5% decline, driven by weak demand and high market inventories in the cycling sector. While the global economy experienced moderate growth, Shimano reported a 4.9% decrease in net sales, a 22.2% decrease in operating income, and a 17% decrease in operating income for its cycling division. However, net income attributable to owners of parent increased by 24.8% to 76,329 million yen. Despite these challenges, Shimano remains optimistic about the long-term future of cycling and forecasts a rebound in sales for 2025.
