Industry map/Automotive & Machinery
Bicycles industry map
Who earns the money in Bicycles, and who keeps it. When a company spans several industries, only the relevant segment is counted.
FY2025 · 8 companies · ¥2.1T
Industry map
Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.
- Industry size (revenue)
- ¥2.1T
- Companies
- 8
- Avg. salary（parent only）
- ¥5.6M
- Industry weather
- Cloudy
YoY +0.9%
Avg. age 42.2
Operating income -4.4%
Yamaha Motor[7272]
Landmobility
- Revenue
- ¥1.62T▲0.3%
- Operating income
- ¥108.7B▲4.7%
Margin 6.7%
Whole company: Revenue ¥2.53T · Net income ¥16.1B
Avg. salary ¥8.3M · 42.7（parent only）
Shimano[7309]
Bicycle components
- Revenue
- ¥355B▲2.7%
- Operating income
- ¥42.8B▼20.9%
Margin 12.1%
Whole company: Revenue ¥466.2B · Net income ¥34B
Avg. salary ¥9M · 41.6（parent only）
Asahi[3333]
- Revenue
- ¥81.4B▼0.3%
- Operating income
- ¥3.94B▼28.2%
Margin 4.8%
Avg. salary ¥5.1M · 35.0（parent only）
Shinanen Holdings[8132]
Non-energy business
- Revenue
- ¥22.8B▲8.0%
- Operating income
- ¥1.06B▲56.9%
Margin 4.6%
Whole company: Revenue ¥298.8B · Net income ¥4.43B
Avg. salary ¥7.6M · 44.3（parent only）
Daiwa Cycle[5888]
- Revenue
- ¥21.1B▲15.0%
- Operating income
- ¥1.42B▲3.0%
Margin 6.7%
Avg. salary ¥4.3M · 29.0（parent only）
The Lead[6982]
In-house products
- Revenue
- ¥494.6M▲125.9%
- Operating income
- ¥68.2MBack to profit
Margin 13.8%
Whole company: Revenue ¥5.14B · Net income -¥69.3M
Avg. salary ¥3.8M · 43.6（parent only）
Araya Industrial[7305]
Bicycle-related
- Revenue
- ¥124M▼48.3%
- Operating income
- -¥17M
Margin -13.7%
Whole company: Revenue ¥40.4B · Net income ¥1.52B
Avg. salary ¥5.8M · 39.0（parent only）
Capita[7462]
Specialty store
- Revenue
- ¥88.3M▼85.8%
- Operating income
- -¥15.1M
Margin -17.1%
Whole company: Revenue ¥2.11B · Net income ¥137M
Avg. salary ¥5.4M · 47.5（parent only）
※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.
The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).
Who earns the money
Area = revenue from businesses in this industry. Color = operating margin.
Who makes a profit
Across = revenue (log scale), up = operating margin, bubble size = operating income.
Ranking and momentum
| Rank | Company (business) | Revenue | Share | Op. margin | CAGR | FCF* |
|---|---|---|---|---|---|---|
| 1 | Yamaha MotorLandmobility | ¥1.62T | 77.1% | 6.7% | — | ¥25.3B |
| 2 | ShimanoBicycle components | ¥355B | 16.9% | 12.1% | -5.4% | ¥18B |
| 3 | Asahi | ¥81.4B | 3.9% | 4.8% | +3.3% | ¥4.32B |
| 4 | Shinanen HoldingsNon-energy business | ¥22.8B | 1.1% | 4.7% | — | ¥4.61B |
| 5 | Daiwa Cycle | ¥21.1B | 1.0% | 6.7% | +17.3% | ¥248.3M |
| 6▲2 | The LeadIn-house products | ¥494.6M | 0.0% | 13.8% | +5.5% | ¥247.3M |
| 7 | Araya IndustrialBicycle-related | ¥124M | 0.0% | -13.7% | -23.8% | ¥1.89B |
| 8▼2 | CapitaSpecialty store | ¥88.3M | 0.0% | -17.1% | — | -¥2.09B |
* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.
How they make money differently
Where each company's ¥100 of sales goes, and how much it keeps (company-wide).
- Cost of sales
- SG&A
- Other
- Operating profit
- Shimano642511
- Daiwa Cycle56377
- Yamaha Motor6927
- Asahi5243
- Araya Industrial7916
- Shinanen Holdings8712
- The Lead9111loss ¥2
- Capita7032loss ¥2
Ownership links
From the major-shareholder section of annual securities reports.
- 阪和興業株式会社Outside
- StakeAraya Industrial3.7%
- リンナイ株式会社Outside
- StakeShinanen Holdings3.4%
- 松井証券株式会社Outside
- StakeThe Lead3.0%
The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted.
Compare the leaders side by side
All companies in Bicycles (by revenue)
All 8 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.
- Yamaha Motor¥1.62T · 6.7%
- Shimano¥355B · 12.1%
- Asahi¥81.4B · 4.8%
- Shinanen Holdings¥22.8B · 4.7%
- Daiwa Cycle¥21.1B · 6.7%
- The Lead¥494.6M · 13.8%
- Araya Industrial¥124M · -13.7%
- Capita¥88.3M · -17.1%
Revenue · Op. margin
Related industries
Analyze this page with AI
Markdown with figures, units, periods and sources, ready to paste into ChatGPT or Claude.