Shimano

Shimano, Inc. (株式会社シマノ, Kabushiki-gaisha Shimano) is a Japanese multinational manufacturer of cycling components, fishing tackle and rowing equipment. It produced golf supplies until 2005 and snowboarding gear until 2008. Headquartered in Sakai, Japan, the company has 32 consolidated subsidiaries and 11 unconsolidated subsidiaries. Shimano's primary manufacturing plants are in Kunshan, China; Malaysia; and Singapore.

Shimano, Inc.

Type	Public KK
Traded as	TYO: 7309
ISIN	JP3358000002
Industry	Leisure products
Founded	February 1921 (1921-02)
Founders	Shozaburo Shimano
Headquarters	3-77 Oimatsu-cho, Sakai-ku, Sakai City, Osaka Prefecture 590-8577, Japan
Key people	Yozo Shimano (CEO and President)
Products	Cycling components Fishing tackle Rowing equipment
Revenue	$ 2.93 billion (FY 2017) (¥ 322.99 billion) (FY 2017)
Net income	$ 462.65 million (FY 2017) (¥ 50.89 billion) (FY 2017)
Number of employees	11,829 (consolidated, as of December 31, 2017)
Website	Official website
Footnotes / references [1][2][3][4]

In 2017, Shimano had net sales of US $3.2 billion, 38% in Europe, 35% in Asia, and 11% in North America. Bicycle components represented 80%, fishing tackle 19%, and other products 0.1%. The company is publicly traded, with 93 million shares of common stock outstanding.[5]

Cycling

Shimano sales constitute an estimated 70–80% of the global bicycle component market by value.[6] Its products include drivetrain, brake, wheel and pedal components for road, mountain, track and hybrid bikes. The components include crankset comprising cranks and chainrings; bottom bracket; chain; rear chain sprockets or cassette; front and rear wheel hubs; gear shift levers; brakes; brake levers; cables; front and rear gear mechanisms or dérailleurs. Shimano Total Integration (STI) is Shimano's integrated shifter and brake lever combination for road bicycles. The Italian firm Campagnolo as well as US based SRAM are Shimano's primary competitors in the cycling marketplace.

When the 1970s United States bike boom exceeded the capacity of the European bicycle component manufacturers, Japanese manufacturers SunTour and Shimano rapidly stepped in to fill the void. While both companies provided products for all price-ranges of the market, SunTour also focused on refinement of existing systems and designs for higher-end products, while Shimano initially paid more attention to rethinking the basic systems and bringing out innovations such as Positron shifting (a precursor to index shifting) and front freewheel systems at the low end of the market. In the 1980s, with Shimano pushing technological innovation and lower prices, the more traditional European component manufacturers lost significant market presence. During this period, in contrast to the near-universal marketing technique of introducing innovations on the expensive side of the marketplace and relying on consumer demand to emulate early adopters along with economy of scale to bring them into the mass market, Shimano and SunTour (to a lesser extent) introduced new technologies at the lowest end of the bicycle market, using lower cost and often heavier and less durable materials and techniques, only moving them further upmarket if they established themselves in the lower market segments.

In the 1980–1983 period, Shimano introduced three groupsets with "AX" technology: Dura-Ace & 600 (high-end), and Adamas in the low-end. Features of these components include aerodynamic styling, centre-pull brakes, brake levers with concealed cables, and ergonomic pedals. By 1985 Shimano introduced innovation only at the highest quality level (Dura-Ace for road bikes and XT for mountain bikes), then trickled the technology down to lower product levels as it became proven and accepted. Innovations include index shifting (known as SIS, Shimano Index System introduced in 1984),[7] freehubs, dual-pivot brakes, 8-9-10 speed drivetrains, and the integration of shifters and brake levers. Also, these components could only work properly when used with other Shimano components; for example, its rear derailleurs have to be used with the correct Shimano gear levers, cables, freehub, and cassette. SunTour tried to catch up, but by the end of the 1980s they had lost the technological and commercial battle, and Shimano had become the largest manufacturer of bicycle components in the world.

Shimano components

• 
  Shimano 600, mid 1980's.
• 
  A 2008 Shimano XT rear derailleur.
• 
  Ultegra series road bike component.

Some Shimano components

Shimano's marketplace domination that developed in the 1990s quickly led to the perception by some critics that Shimano had become a marketplace bully with monopolistic intentions. This viewpoint was based on the fact that Shimano became oriented towards integrating all of their components with each other, with the result being that if any Shimano components were to be used, then the entire bike would need to be built from matching Shimano components. The alternative perspective is that by controlling the mix of components on the bicycle, a manufacturer such as Shimano can control how well their own product functions. Shimano's primary competitors (Campagnolo and SRAM) also make proprietary designs that limit the opportunity to mix and match componentry.

In 2003 Shimano introduced "Dual Control" to mountain bikes, where the gear shift mechanism is integrated into the brake levers. This development was controversial, as the use of Dual Control integrated shifting for hydraulic disc brakes required using Shimano hydraulic disc brakes, locking competitors out of the premium end of the market. However, with their 2007 product line, Shimano moved back to making separate braking and shifting components fully available in addition to the integrated "Dual Control" components, a move to satisfy riders that wished to use Shimano shifting with other brands of disc brakes.

Shimano in 1990 introduced the Shimano Pedaling Dynamics (SPD) range of clipless pedals and matching shoes, designed so that the shoes could be used for walking. The shoes have a recess in the bottom of the sole for fitting the smaller cleats and therefore it does not protrude, while conventional clipless road pedals are designed for road cycling shoes which have smooth soles with large protruding cleats, which are awkward for walking. The SPD range, in addition to other off-road refinements, were designed to be used with treaded soles that more closely resemble rugged hiking boots. SPD pedals and shoes soon established themselves as the market standard in this sector, although many other manufacturers have developed alternatives which may be less prone to being clogged by mud or easier to adjust. However, the SPD dominance in this sector has meant that alternative pedal manufacturers nearly always design their pedals to be usable with Shimano shoes, and likewise mountain bike shoe manufacturers make their shoes "Shimano SPD" compatible. SPD has spawned 2 types of road cleats which are incompatible with standard SPD pedals and some shoes – SPD-R and SPD-SL. SPD-R is a now defunct pedal standard. SPD-SL is basically a copy of the standard Look clipless pedal system. It has a wide, one-sided platform and a triangular cleat that is Look 3-bolt compatible.

Shimano products

Shimano has developed many new items.

Name	Description
"Shimano Alfine"	The Alfine 700 is an internally geared hub with 8 or 11 speeds, weighing less than 1700 grams (auxiliary components not included). The product was introduced to the market in 2010. It comprises four stepped planetary series offering up to 11 speeds.
"Biopace"	Biopace chainrings. Is the Shimano tradename for a type of ovoid cycle chainring manufactured from 1983 to 1993. Biopace chainrings are non round, but unlike traditional oval chainrings which tend to have the largest effective gearing coincide with the downstroke, with Biopace the rings are oriented so the effectively reduced chainring diameter now coincides with the cranks being (at or near) horizontal, and the increased chainring diameter coincides with the pedals being close to TDC and BDC. The reasoning behind this is that it smooths the pedaling action, allowing the rider to carry a lot of momentum through the (downwards-based) power stroke, having it smoothly removed at the bottom of the stroke.
"Dyna Drive"	A pedal system with no pedal axle and with the bearings located in the part of the pedal which screws into the crank. This required an oversized hole in the crank 25mm (1" diameter) to accept the Dyna Drive pedals. The theory behind this was to allow the foot to be lower than the pedal axle for better biomechanics. This system was relatively short lived, one reason being that the pedal bearings wore out quickly. However, they were used by Alexi Grewal (USA) in his gold medal winning ride in the 1984 Olympic cycling road race in Los Angeles.
"Freehub"	Shimano introduced a combined rear hub and freewheel in the late 1970s which they named "freehub". But it did not catch on, as its arrangement of internally splined sprockets sliding onto the matching externally splined freehub was incompatible with the then standard separate hub and screw-on freewheel. When a larger number of rear sprockets came to be used, the freehub concept was re-introduced, and is now the dominant rear hub type. Freehub style hubs are inherently stronger than screw on sprocket and freewheel set ups because it allows the bearings on the drive side of the hub to sit nearer to the end of the hub axle, reducing bending in the axle caused by chain tension and rider weight, a significant problem leading to fatigue failure in many axles as 6 and 7 speed blocks were introduced.
"Hollowtech" cranks	These are cranks which are pressure die cast as tubes open at the pedal end and forged closed before being threaded for the pedals. Previous to this hollow cranks tended to be tubes with a solid part welded to each end to take the pedals and the bottom bracket.
"Hollowtech II"	This was the next iteration after Hollowtech cranks. For this system the spindle was fused to the drive side crank arm and the non drive side crank arm fitted on the splined spindle using pinch bolts. The bottom bracket bearings sat outside the bottom bracket in the frame, allowing the spindle to be a larger diameter, making it stiffer and lighter. The bearing reliability of this system remains quite variable compared to previous Shimano cartridge bottom bracket bearings as Hollowtech II bearing alignment is at the mercy of the alignment of the bottom bracket threads and the facing of the shell rather than factory set by Shimano in the case of the cartridge BBs. Race Face makes a system with compatible bearings which they call X-Type.
"Hyperglide HG"	Shimano 8 speed cassette showing the Hyperglide teeth profiles. Cutaways on the rear gear sprockets (called the cassette if it slides onto a freehub body) that allow smoother downshifting (shifting from a small sprocket to a bigger one) as the cutaways allow the chain to roll from one sprocket to another without lifting as far off the sprocket teeth. This allows a certain amount of gear shifting under power, though this remains hard on the drivetrain.
"Interactive Glide" (IG)	Gears feature "pick-up teeth" and specially shaped tooth profiles for smoother and faster shifting.
Metric chain	Shimano designed chains with a 10 mm pitch instead of the conventional half inch pitch as well as sprockets and chainrings for use with this metric chain; however this did not catch on. For a time 10 mm pitch chains, sprockets, and chainrings, were used for motor-paced racing, to reduce the size and weight of the transmission system.
"Shimano Nexus"	Shimano's family of internally geared hubs. Available in 3-, 7- and 8 speed with or without a coaster brake. The Nexus hubs are comparable in range to a full 16–20 speed system.
"Servo Wave"	Introduced in the mid-1990s, this system allowed brake levers to pull more brake cable at the start of the lever stroke than at the end. This improved separation between the brake blocks and the rim to accommodate for mud and lack of trueness in the wheels, while still delivering the same braking power as traditional systems. This was implemented initially by mounting the brake cable on a roller that moves towards the lever pivot in a slot in the lever blade as the lever is pulled. A second design pulled the brake cable downwards towards a cam near to the brake lever pivot instead. Servo Wave appeared for the first time on a hydraulic disk brake lever on the 2008 Shimano XT groupset.
SLR ("Shimano Linear Response")	Shimano 600 Tricolor brake caliper (Shimano Ultegra 6400) Integration of a return spring into the brake lever, pushing the brake cable back when the lever is released. The idea behind this was that the return spring in the actual brake could be designed to be weaker, thus giving an overall feeling of easier operation.
SPD ("Shimano Pedaling Dynamics")	SPD clipless pedal PD-M520 The SPD pedal was released by Shimano in 1990 and forms one part of a clipless bicycle shoe/pedal system. While not the first, its innovation was its small cleat which fitted into a recess in the sole of a shoe designed for SPD use. The recess allowed an SPD-equipped shoe to be used for relatively comfortable short walks, whereas previous systems tended to have a large, protruding cleat which prevented this. Clipless pedals use a system of cleat retention which resembles that of downhill skis, allowing for rapid shoe release, ergo clipless pedals are deemed safer than the older style(s) of pedal/shoe integration using toe straps, et al.
STI ("Shimano Total Integration")	The marketing term for the integration of shifting into the brake levers for road bikes, enabling the rider to shift without taking the hands off the brake levers. This made it possible to shift during uphill passages that require getting out of the saddle, and added general convenience for the rider. Although first generation of STI was unable to downshift multiple cogs which was not a problem in downtube shifters. Shimano 105 9 speed STI levers. Shimano 105 1055SC 7 speed rear derailleur Shimano 105 1055SC downtube shifters
STePS	SHIMANO STePS DU-E6100 (Shimano Total Electric Power System), is Shimano’s range of electric bike (or e-bike) components. It’s a pedal-assist system, which means the power is only applied when you’re pedalling. It’s designed to make e-bikes feel and handle more like ‘normal’ bikes.[8]

Results

Alexi Grewal used a bicycle equipped with Shimano DynaDrive chainset and pedals (the remainder of the components on his bicycle were primarily Suntour and DiaCompe) to win the 1984 Olympic road race in Los Angeles. In the 1988 Giro d'Italia, Andrew Hampsten rode Shimano to its first Grand Tour victory. In 2002, world championships in both the road and time trial disciplines were won on Shimano equipment. Alberto Contador's 2007 victory in the Tour de France on a Shimano-equipped bicycle represents the first official General Classification victory in that race by a rider using Shimano components (Lance Armstrong originally won the TDF with Shimano in 1999 but was later disqualified due to drug use).[9]

VIA

"VIA" ("Vehicle Inspection Association") is stamped on all Shimano parts. It is an official approval stamp used to certify parts of Japanese vehicles – including bicycles. This mark signifies compliance with certain quality standards and is similar to the "UL" (Underwriters Laboratories) mark.

Road groupsets

See also: Groupset

Di2 electronic front derailleur

Di2 electronic shifting control unit and battery pack mounted to bottom of bottom bracket and left chain stay. Hollowtech II external bearing cups are also visible, between the crank arms and the bottom bracket shell.

Di2 electronic rear derailleur

Shimano Sora (R3000) shift lever

Shimano Dura-Ace chain segment (asymmetrical)

Groupset	Dura-Ace[10]	Ultegra	105	Tiagra	Sora	Claris
1973	7100 : introduction
1974		6000 : Shimano 600 1st gen - preceded by Titlist (1971)
1975
1976	track	6100 : Shimano 600 2nd gen
1977
1978	7200 EX	6200 : 600 EX Arabesque
1979
1980	7300 AX
1981		6300 : 600 AX Aero
1982
1983			A105 : Golden Arrow
1984	7400 : 6 speed and SIS	6207: New 600 EX
1985	7600 : track
1986		6208 : New 600 EX : 6 speed SIS
1987	7400 : 7 speed		1050 : 6 speed
1988	7400 : 8 speed	6400 : 600 Ultegra aka Tricolor : 7 speed SIS
1989
1990	7400 : STI levers		105SC : 7 speed
1991
1992		6402 : 600 Ultegra : 8 speed SIS and STI levers
1993	FC-7410 low profile crankset FD-7410 front derailleur		105SC : 8 speed
1994
1995
1996	7700 : 9 speed
1997		6500 : Name shortened to just Ultegra : 9 speed
1998
1999			5500 : 9 speed
2000
2001				4400 : 9 speed
2002					3300 : 8 speed
2003	7800 : 10 speed					2200
2004
2005		6600 : 10 speed
2006			5600 : 10 speed	4500 : 9 speed
2007
2008	7900 : 10 speed				3400 : 9 speed
2009	7970 : 10 speed Di2	6700 : 10 speed				2300 : 8 speed
2010			5700 : 10 speed
2011		6770 : 10 speed Di2		4600 : 10 speed
2012	9000 : 11 speed 9070 : 11 speed Di2				3500 : 9 speed with STI
2013		6800 : 11 speed				2400 : 8 speed
2014		6870 : 11 speed Di2	5800 : 11 speed[11][12]
2015				4700 : 10 speed[13]
2016	R9100 : 11 speed R9120 : 11 speed, w/ disc brakes R9150 : 11 speed Di2 R9170 : 11 speed Di2, w/ disc brakes				R3000 : 9 speed internal cable routing
2017		R8000 : 11 speed[14] R8020 : 11 speed, w/ disc brakes R8050 : 11 speed Di2 R8070 : 11 speed Di2, w/ disc brakes				R2000 : 8 speed internal cable routing
2018			R7000 : 11 speed[15] R7020 : 11 speed, w/ disc brakes
2019				4720 : 10 speed, w/ disc brakes[16]

Mountain groupsets

The first Shimano MTB groupset was Deore XT in 1983. It was based on a 1981 Deore derailleur built for touring.

Current mountain bike groupsets include:

groupset	XTR	Saint	Deore XT	SLX	Deore	Alivio	Acera	Altus
1983			M700 : 6 speed
1984
1985
1986
1987			M730 : indexed 6 speed		MT60 : 6 speed
1988
1989			M732 : 7 speed	MT62 : 7 speed (Deore II)	M500 : 7 speed (Mountain LX)	M450 : 6 speed (Exage Mountain)	M350 : 6 speed (Exage Trail)	M250 : 6 speed (Exage Country)
1990			M735 : 7 speed rapidfire	M650/550 : 7 speed (Deore DX/Deore LX)	500LX : 7 speed (Exage)	400LX : 7 speed (Exage)	300LX : 7 speed (Exage)	200GS : 7 speed
1991
1992	M900 : 8 speed rapidfire+
1993				M560 : 7 speed (Deore LX)	M520 : 7 speed (Exage ES)	(discontinued)	M320 : 7 speed (Exage LT)	A10, A20, C10 : 7 speed C20 : 6 speed
1994			M737 : 8 speed		MC30/31 : 7 speed (STX/STX-SE)	MC10/MC11 : 7 speed (Alivio)	(discontinued)	C50 : 6 speed
1995	M910 : 8 speed			M565 : 8 speed (Deore LX)	MC32/MC33 : 7 speed (STX/STX-RC)	MC12 : 7 speed	M290 : 7 speed (Acera-X)	C90 : 7 speed
1996	M950: 8 speed		M739: 8 speed	M567 : 8 speed (Deore LX)	MC34/MC36 : 7 speed (STX/STX-RC)	MC14 : 7 speed
1997				M569 : 8 speed (Deore LX)	MC37/MC38 : 7/8 speed (STX/STX-RC)	MC16 : 7 speed		CT92 : 7 speed
1998	M951: 8 speed						M291 : 7 speed (Acera X)
1999	M952 : 9 speed		M750 : 9 speed	M570 : 9 speed (Deore LX)		MC18 : 8 speed	M330 : 8 speed
2000					M510 : 9 speed (Deore)	MC20 : 8 speed
2001
2002							M340 : 8 speed	CT95 : 8 speed
2003	M960 : 9 speed	M800 : 9 speed	M760 : 9 speed
2004				M580 : 9 speed (Deore LX)
2005					M530 : 9 speed	M410 : 8 speed
2006	M970 : 9 speed	M801 : 9 speed
2007			M770 : 9 speed					M310 : 8 speed
2008		M810 : 9 speed		M660/T660 : 9 speed (SLX/Deore LX)			M360 : 8 speed
2009					M590 : 9 speed
2010	M980 : 10 speed		M773 : 10 speed	M663 : 10 speed		M430 : 9 speed
2011	M985 : 10 speed		M780/T780 : 10 speed		M593 : 10 speed		M390 : 9 speed
2012	M986 : 10 speed	M820 : 10 speed	M781/786 : 10 speed	M670/T670 : 10 speed (SLX/Deore LX)
2013					M610/T610 : 10 speed			M370 : 9 speed
2014	M9000 : 11 speed M9050 : 11 speed Di2					M4000/T4000 : 9 speed
2015			M8000 : 11 speed				M3000/T3000 : 9 speed
2016			T8000 : 10 speed M8050 : 11 speed Di2	M7000 : 11 speed
2017					M6000/T6000 : 10 speed			M2000 : 9 speed
2018	M9100 : 12 speed New Freehub[17]
2019			M8100 : 12 speed	M7100 : 12 speed
2020					M6100 : 12 speed M5100 : 11 speed M4100 : 10 speed	M3100 : 9 speed

Other groupsets

Other current groupsets include:

• Capreo [F700] – Groupset designed for small-wheeled bikes such as folders and features a cassette with a 9-tooth sprocket.
• DXR [MX70] – Performance BMX racing component.
• Nexave [C810] – Several sub-groupsets designed for comfort and commuting bikes, some of which feature internal hub gears and roller brakes.
• Tourney - Lowest-end groupset, a mix of inexpensive components including 6-, 7- and 8 speed.
• Zee [M640] - Lower-priced version of Saint, SLX-performance level.
• GRX [RX800/RX600/RX400] - Gravel riding specific groupsets intended to be compatible with road groupsets and mountain cassettes.[18]

Groupsets no longer offered include:

• 70GS and 100GS - budget groupsets in 1990-1992
• Hone [M600] (9 speed) – discontinued in 2008
• Santé
• RX100 (compare to Tiagra)
• RSX (compare to Sora)
• Metrea [U5000] – Groupset designed for urban riding, promising reliable performance with clean, simplistic design. Introduced in 2015 and discontinued in 2020.

Fishing

Shimano offers a range of fishing reels, rods, fishing line, fishing lures, as well as various fishing accessories clothing and electronics.[19] Their spinning reels are their best-selling product series.[20]

Partnerships

Shimano is a founding member of the Global Alliance for EcoMobility, an international partnership that works to promote EcoMobility and thus reduce citizens’ dependency on private motorized vehicles worldwide.[21] The EcoMobility Alliance was founded by a group of leading global organizations on the occasion of the Climate Change Conference in Bali in December 2007.

Financial results

Financial results[22][23][24]
Year	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019
Revenue (in $ billion)	1.8	1.8	2.3	2.5	2.0	2.1	2.2	2.5	2.8	2.8	3.1	2.8	3.0	3.2	3.37
Operating Margin (%)	15	12.3	14.8	15	11	-	-	-	-	-	-	-	-	-
Free Cash Flow (in $ million)	200	98	252	109	373	-	-	-	261	231	452	297	500	650

References

1. "Company Profile". Retrieved August 31, 2018.
2. "Company History". Retrieved August 31, 2018.
3. "Shimano Financial Statements". Bloomberg Businessweek. Archived from the original on August 8, 2014. Retrieved August 3, 2014.
4. "Financial Statement 2017" (PDF). Retrieved 11 June 2018.
5. Summary of Consolidated Financial Results for FY2017 (English)
6. "Shimano: Time to Ride". Credit Suisse Equity Research. 24 October 2016. p. 16. Retrieved 12 February 2019.
7. "Key Events in Shimano History"
8. https://shimano-steps.com/
9. "Tour de France Winner Groupsets, Year by Year". Retrieved 3 January 2017.
10. "Dura-Ace History". Cycling-Passion.
11. "Shimano 105 5800 2014/15 groupset - first look - Cyclingnews.com". Retrieved 3 January 2017.
12. "Archived copy". Archived from the original on 2014-04-07. Retrieved 2014-04-05.CS1 maint: archived copy as title (link)
13. "Shimano launch Tiagra 4700 groupset". 31 March 2015. Retrieved 3 January 2017.
14. "Shimano launches new Ultegra R8000 groupset". Retrieved 8 June 2017.
15. "Shimano Line-up Chart Version 1.8". Retrieved 2 April 2018.
16. "Shimano Tiagra 10sp updated w/ slim ergonomic 4720 disc brakes". Retrieved 7 May 2019.
17. "NEW XTR – Next level MTB Components". www.ridextr.com. Retrieved 2018-06-22.
18. "Shimano GRX: The World's First Dedicated Gravel Component Group". bike.shimano.com. Retrieved 2019-09-15.
19. "Fishing: Quality Fishing Tackle by Shimano Fishing Australia". Retrieved 3 January 2017.
20. "Shimano Spinning Reels". Retrieved 31 August 2018.
21. "EcoMobility". Retrieved 3 January 2017.
22. Wolinsky, Jacob (June 7, 2010). "Shimano Inc". Daily Markets. Retrieved 2013-06-04.
23. "Shimano Inc (7309:Osaka)". Bloomberg Businessweek. Archived from the original on 2014-08-08. Retrieved 2013-06-04. Currency in Millions of Japanese Yens at 100 JPY per USD for 2009-2012 Revenues = 186,686.0; 213,596.0; 221,770.0; 245,843.0
24. "Annual Financials for Shimano Inc". MarketWatch. Retrieved 20 May 2019.

External links

• Shimano.com
• History of Dura-Ace and Compatibility at Sheldonbrown.com
• Cycling components specifications and compatibility charts, from 2004 to current