Does Shimano make bicycles?
76.1%Bicycle Components share of sales
82.9%Bicycle Components share of operating income
90.9%Sales outside Japan (site calculation)
What emerges
See the company through the numbers →Shimano has not stopped being a bicycle company. Bicycle Components still generated 76.1% of FY2025 sales and 82.9% of operating income. The distinction is where Shimano sits: not primarily at the finished-bicycle layer, but inside the bike through shifting, braking and drivetrain components. That path runs from the 1922 freewheel to STI system integration and current automatic shifting. The same precision-metal capabilities also extend into fishing reels. With only 9.1% of sales in Japan, Shimano increasingly looks like a global component and technology company embedded inside bicycles and outdoor products.