OSAKA, Japan (BRAIN) — Shimano on Tuesday reported its first quarterly year-over-year revenue decline since 2009, as it announced that net sales were down 16. 2 percent in the first quarter of 2016. The company’s operating income also was down, 30.7 percent.
Shimano’s net sales in the quarter were 82,169 million yen ($738 million), down from 98,000 million yen in the same period last year. Subracting Shimano’s fishing and other divisions, …read more