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Shimano 9th richest company in Japan.

Posted on September 16th, 2020

Shimano is said to have the ninth largest amount of cash reserves in Japan.

Think of the top ten richest companies in Japan and you could be forgiven for coming up with huge corporations like Honda, Sony and Mitsubishi.

But, surprisingly, except for the top company – Nintendo – the majority on the list are not the globally-famous names you would come to expect. And it includes a further surprise in that Shimano is number nine in the rankings.

The bicycle components and fishing tackle manufacturer is said to have 266.9 billion yen in its ‘wallet’. The survey was carried out by Risk Monster, a Japan-based management consultancy, and was not based on gross profits or annual income, but rather net cash recorded in each of the business’s accounts at the time of the survey.

Nintendo, the video gaming company, topped the list with 890.4 billion yen (US$8.5 billion), ahead of Shin-Etsu, the largest chemical company in Japan.

Angling International – by Anthony

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5

Toronto Boat Show 2021 Covid-19 Strategy.

Posted on September 10th, 2020

Highlights of Revised Toronto Boat show 2021 Plan based on Covid-19 restrictions..

  • The Toronto Boat Show will provide rapid testing, outside the point of entry and prior to entering the show, to all attendees, exhibitors and suppliers.
  • Approved test technicians/nurses to administer the daily tests (pending approval by Health Canada and Ministry of Health in Ontario for saliva swipe or finger prick test kits), based on developments for rapid testing with results in 15 minutes. Similar to pregnancy tests, which are in production by several companies and approved in other countries.
  • Rapid testing would be included in attendee admission fees, and required to attend the show
  • Re-assurance that all at the show will be safe, creating a Daily Bubble.
  • Negative test results can enter the Show.
  • If anyone tests positive, there will be a re-direct protocol to public health in a designated room outside of the show floor, and they will not be permitted to enter.
  • The Toronto Boat Show is in a position to demonstrate a solution to resuming in person business events, and to help protect the public. We are willing to go above and beyond to be partners with the government and lead the way in reviving the economy.
  • The virus is not going away. We have a plan that can deliver a model that will provide long-term economic and mental health benefits by helping resume public gatherings of people and businesses.
  • As we are proposing to be the 1st event to test every person upon entry, we want to ensure all safety protocols exceed the expectations of attendees, exhibitors and the provincial/municipal governments
  • Therefore some of the COVID safety protocols will remain in the plan, in order to increase pubic comfort for attending an event that prioritizes their safety
  • There will be wider aisles in certain areas of the show, in order to maintain physical distancing practices consistent with retail locations (shopping malls, big box stores, grocery stores).
  • While we don’t feel wider aisles would be necessary if we are providing a COVID free event, we want to do the right thing and maintain consistent practices that are important to the public and government in the Re-opening plans across Ontario.
  • Enhanced cleaning in general show areas to elevate comfort of attendees and workers.
  • Show and Exhibitor décor/carpet are expected to be maintained within the plan.
  • Face Masks/Coverings will be Optional.
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Walmart reports sales of ‘unlikely items’ like fishing rods.

Posted on August 26th, 2020

Walmart, the world largest retailer, has reported an increase in sales of ‘unlikely items’ like fishing rods in the second quarter of its financial year.

Walmart, the world’s biggest retailer and a prized outlet among fishing tackle brands, made special mention of fishing tackle sales as it revealed an impressive profit jump for the latest financial quarter.

The chain posted net income of $6.5 billion, up almost 80% from the same period last year. A 97% surge in the company’s US e-commerce sales helped hike total revenues by 5.6% to $137.7 billion.

Shifting consumer behaviours and social distancing protocols have led to a supply crunch for ‘sometime unlikely items’ such as fishing rods, says the company.

“I looked at the fishing store this week and we’re still really light, just basic terminal tackle, hooks, bobbers and stuff like that,” said Doug McMillon, Chief Executive of the retail powerhouse when he delivered Q2 earnings.

Walmart estimates there are 35 million Americans who fish, up from 25 million before the pandemic. Those are conservative figures compared to those quoted by the American Sportfishing Association (ASA), but may vary according to measures like frequency.

The company reported that consumers are making fewer trips to stores, but are spending more. However, it did not provide a full-year profit target because the outlook remained clouded by the unpredictable course of COVID-19 and whether Congress would enact another round of fiscal stimulus.

Angling International  – By Anthony

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Canadian Tire reports ‘extraordinary’ Q2 sales growth.

Posted on August 22nd, 2020

Canadian Tire Corporation announced a 9.3% increase in second quarter sales despite many of its stores being closed or working under restrictions.

Canada’s leading supplier of fishing tackle has reported sales growth of 9.3% in the second quarter of its financial year, despite 80% of its stores operating under closures and restrictions for much of the period.

Canadian Tire Corporation (CTC) also reported that its digital and e-commerce business across all banners reached CN$600m in the quarter – far exceeding its full-year digital sales in 2019.

“This quarter we drove extraordinary retail sales growth, particularly at our core CTC brand, further reinforcing the relevancy of our unique multi-category assortment to our customers,” said Greg Hicks, the group’s President and CEO.

“With a significant percentage of our store network closed for much of the quarter, customers turned to our online platforms and we saw e-commerce sales surge across all brands – CTC, SportChek, Helly Hansen and Sports Expert – by 400%. Our strong results in CTR – Click Through Rate – clearly demonstrates the advantage of our dealer model and durability to quickly adapt to the local market and customer needs.

“We continue to fulfil our deep-rooted purpose of being there for life in Canada, no matter what life may look like. I am incredibly proud of the contribution of our dedicated frontline store, distribution centre and contact centre employees as well as our associate dealers, who place the customer at the heart of everything we do,” added Hicks.

Excluding petroleum, consolidated retail sales were up CN$346 – 9.3% compared to the same period last year.

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IGFA postpones 2020 Hall of Fame Induction due to Covid-19.

Posted on August 18th, 2020

The International Game Fish Association has been forced to postpone its Hall of Fame Induction ceremony this year because of the COVID-19 pandemic.

The world’s most widely recognised authority on game fish and angling-related matters has postponed one of the most important events on its calendar due to the COVID-19 crisis.

The International Game Fish Association (IGFA) has postponed its Fishing Hall of Fame Induction ceremony, which was due to take place at the Wonders of Wildlife National Aquarium and Museum on Saturday, September 12th this year. It has been rescheduled for 2021.

“It is very unfortunate that we are unable to celebrate the Class of 2020 as planned this year,” said IGFA President Jason Schratwieser. “However, the health and safety of the inductees, their guests and staff members of the IGFA and the Wonders of Wildlife is the utmost priority. We look forward to giving the inductees the calibre of celebration and recognition they deserve next year.”

The 2020 Class of the IGFA Fishing Hall of Fame includes pelagic game fish researcher Dr Barbara Block, famed billfish angler and conservationist Jose Campos, marine conservationist Ken Hinman, legendary Australian angler Patrick Gay and fly fisher extraordinaire Dave Whitlock.

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