In Europe, good weather conditions from the beginning of spring supported favorable retail sales of completed bicycles, mainly sport E-BIKE, and distributor inventories of bicycles in Europe remained at an appropriate level.
In North America, although total retail unit sales of completed bicycles had been sluggish from the start of the year, the sales amount remained at the same level as the previous year due to improved weather from the latter half of March and also owing to a favorable sales environment, mainly for high-end bicycles. Distributor inventories remained at an appropriate level.
In China, retail sales of completed bicycles showed no clear signs of recovery, and sales continued to lack vigor. Meanwhile, distributor inventories remained at an appropriate level.
With regard to the other emerging markets, in South America, the Brazilian market continued to recover, while the Argentine market remained stagnant due to the effects of currency depreciation. Distributor inventories remained at an appropriate level except for the Argentine market.
In the Japanese market, despite overall good weather conditions, sales of high-end sports bicycles were sluggish. Meanwhile, as the shift to sports-type cross bike and E-BIKE for commuting to work and school further progressed, unit sales decreased, but sales unit prices increased. Distributor inventories were slightly high.