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FINWIRES

Shimano's Net Income Surges 606% in H1

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Shimano's (TYO:7309) net income attributable to owners of the parent surged 606% to 28.0 billion yen for the first half from 3.96 billion yen a year ago.

The bicycle equipment manufacturer's basic earnings per share increased to 325.83 yen from 44.90 yen last year, according to a Tokyo bourse filing on Tuesday.

Net sales rose 4.1% year on year to 247.1 billion yen during the reporting period from 237.4 billion yen, the filing said.

The company declared an interim dividend of 181.50 yen per share, payable on Sept. 2.

For the full year, the company expects a revised attributable profit of 43.0 billion yen, basic EPS of 505.94 yen and net sales of 491.0 billion yen.

The company expects to pay a year-end dividend of 181.50 yen per share for the year.

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