Results at the bike component and fishing tackle maker were bound to decelerate after 2021’s 45% jump in revenues coming out of the pandemic, but a 15% top line improvement last year to ¥628,909 million ($4,786.2 mm) from ¥546,515 million was still an impressive outcome. Profits were also up double digits, improving 11% to ¥128,178 million from ¥115,937 million. But those heady numbers end in 2022, and Shimano’s initial guidance for 2023 calls for a 21% revenue decline to ¥500,000 million, and an even steeper, 33% drop in net income to ... Log in to view full article.