Shimano's Net Income Surges 31% in Q1
Shimano's (TYO:7309) net income attributable to owners of the parent surged 31% to 12.8 billion yen for the first quarter from 9.8 billion yen a year earlier.The cycling components company's basic earnings per share increased to 148.45 yen from 110.20 yen a year ago, according to a Tokyo bourse filing on Thursday.Net sales rose 3.6% to 117.6 billion yen for the three months ended March 31 from 113.5 billion yen in the prior year.For the full year ending Dec. 31, the company expects attributable profit of 42 billion yen, basic EPS of 488.19 yen, and net sales of 467 billion yen.Shimano plans to pay interim and year-end dividends of 181.50 yen per share, each, for the current year, which is higher than the amount paid in the prior-year period.
