10/29/2024
Supplemental Information
- Consolidated Profit & Loss Account Comparison （FY2024 Revised Schedule vs. FY2023 Results）
- Consolidated Profit & Loss Account Comparison （FY2024 Revised Schedule vs. FY2024 Previous Schedule)
- Operating Income by Segment
Sales By Shipment Destination / Manufactory Location / Currencies Capital Investment / Depreciation and Amortization
Quarterly Sales and Operating Income - Consolidated Sales, Operating Income and Net Income Attributable to Owners of Parent
-
ROA & ROE
Total Assets & Shareholders' Equity Treasury Stock Acquired Dividends per Share - Bicycle Components Sales by Shipment Destination
- Fishing Tackle Sales
Shimano Inc.
- The forecasts of consolidated business performance and other forward-looking statements contained in this document are based on information currently available to the Company and certain assumptions that management believes reasonable and actual business performance may differ materially from those described in such statements due to various factors.
＊＊＊ CONSOLIDATED PROFIT AND LOSS ACCOUNT COMPARISON ＊＊＊
10/29/2024 (million JPY)
2023 Results | 2024 Revised Schedule (10/29/2024) | Comparison | ||||||||||||||
1st Half | 2nd Half | Total | 1st Half | 2nd Half | Total | 1st half diff. | 2nd half diff. | Annual diff. | ||||||||
Japan | 5,779 | 4,915 | 10,694 | 3,785 | 3,215 | 7,000 | -1,994 | -34.5% | -1,700 | -34.6% | -3,694 | -34.5% | ||||
Overseas | 199,208 | 154,778 | 353,985 | 158,810 | 182,190 | 341,000 | -40,398 | -20.3% | 27,413 | 17.7% | -12,985 | -3.7% | ||||
North America | 10,449 | 9,601 | 20,050 | 10,937 | 11,063 | 22,000 | 488 | 4.7% | 1,462 | 15.2% | 1,950 | 9.7% | ||||
Bicycle | Europe | 112,781 | 73,865 | 186,646 | 66,479 | 80,521 | 147,000 | -46,302 | -41.1% | 6,656 | 9.0% | -39,646 | -21.2% | |||
Components | China | 28,540 | 35,125 | 63,665 | 49,687 | 45,313 | 95,000 | 21,147 | 74.1% | 10,188 | 29.0% | 31,335 | 49.2% | |||
Taiwan | 23,784 | 18,268 | 42,052 | 13,509 | 22,491 | 36,000 | -10,275 | -43.2% | 4,223 | 23.1% | -6,052 | -14.4% | ||||
Others | 23,653 | 17,919 | 41,572 | 18,198 | 22,802 | 41,000 | -5,456 | -23.1% | 4,884 | 27.3% | -572 | -1.4% | ||||
* | Total | 204,987 | 159,692 | 364,679 | 162,595 | 185,405 | 348,000 | -42,392 | -20.7% | 25,713 | 16.1% | -16,679 | -4.6% | |||
Fishing | Japan | 20,723 | 16,869 | 37,592 | 16,802 | 14,198 | 31,000 | -3,921 | -18.9% | -2,672 | -15.8% | -6,592 | -17.5% | |||
Overseas | 37,305 | 34,328 | 71,634 | 37,267 | 33,233 | 70,500 | -38 | -0.1% | -1,096 | -3.2% | -1,134 | -1.6% | ||||
Tackle | ||||||||||||||||
* | Total | 58,028 | 51,198 | 109,226 | 54,069 | 47,431 | 101,500 | -3,959 | -6.8% | -3,767 | -7.4% | -7,726 | -7.1% | |||
Others | 236 | 222 | 458 | 223 | 277 | 500 | -13 | -5.6% | 55 | 25.0% | 42 | 9.2% | ||||
Sales Total | 263,251 | 211,112 | 474,363 | 216,887 | 233,113 | 450,000 | -46,364 | -17.6% | 22,001 | 10.4% | -24,363 | -5.1% | ||||
Profit ratio(%) | 39.3 | 37.5 | 38.5 | 38.7 | 37.5 | 38.1 | -0.6 | 0.0 | -0.4 | |||||||
Gross profit | 103,432 | 79,084 | 182,516 | 83,937 | 87,363 | 171,300 | -19,494 | -18.8% | 8,279 | 10.5% | -11,216 | -6.1% | ||||
Selling, general and administrative exp. | 49,523 | 49,338 | 98,862 | 52,982 | 52,318 | 105,300 | 3,459 | 7.0% | 2,980 | 6.0% | 6,438 | 6.5% | ||||
20.5 | 14.1 | 17.6 | 14.3 | 15.0 | 14.7 | -6.2 | 0.9 | -2.9 | ||||||||
Operating income | 53,908 | 29,746 | 83,654 | 30,955 | 35,045 | 66,000 | -22,953 | -42.6% | 5,299 | 17.8% | -17,654 | -21.1% | ||||
Non operating income & exp, net | 14,502 | 5,215 | 19,716 | 24,670 | -13,170 | 11,500 | 10,169 | － | -18,385 | － | -8,216 | － | ||||
26.0 | 16.6 | 21.8 | 25.6 | 9.4 | 17.2 | -0.4 | -7.2 | -4.6 | ||||||||
Ordinary income | 68,410 | 34,960 | 103,370 | 55,626 | 21,874 | 77,500 | -12,784 | -18.7% | -13,086 | -37.4% | -25,870 | -25.0% | ||||
Extraordinary gain (loss) | -323 | -19,608 | -19,931 | -63 | -37 | -100 | 260 | － | 19,571 | － | 19,831 | － | ||||
25.9 | 7.3 | 17.6 | 25.6 | 9.4 | 17.2 | -0.3 | 2.1 | -0.4 | ||||||||
Net income before income taxes | 68,086 | 15,352 | 83,438 | 55,563 | 21,837 | 77,400 | -12,524 | -18.4% | 6,485 | 42.2% | -6,038 | -7.2% | ||||
Income taxes | 17,708 | 4,588 | 22,295 | 11,858 | 9,542 | 21,400 | -5,850 | -33.0% | 4,954 | 108.0% | -895 | -4.0% | ||||
Net income attributable to | 19.1 | 5.1 | 12.9 | 20.2 | 5.3 | 12.4 | 1.1 | 0.2 | -0.5 | |||||||
owners of parent | 50,379 | 10,764 | 61,143 | 43,705 | 12,295 | 56,000 | -6,674 | -13.2% | 1,531 | 14.2% | -5,143 | -8.4% |
* Bicycle components Sales and Fishing Tackle Sales indicate amount of sales which is divided into destinations where the products are shipped.
1
＊＊＊ CONSOLIDATED PROFIT AND LOSS ACCOUNT COMPARISON ＊＊＊
10/29/2024 (million JPY)
2024 Previous Schedule (7/30/2024) | 2024 Revised Schedule (10/29/2024) | Comparison | |||||||||||||
1st Half | 2nd Half | Total | 1st Half | 2nd Half | Total | 1st half diff. | 2nd half diff. | Annual diff. | |||||||
Japan | 3,785 | 3,215 | 7,000 | 3,785 | 3,215 | 7,000 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | |||
Overseas | 158,810 | 182,190 | 341,000 | 158,810 | 182,190 | 341,000 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | |||
North America | 10,937 | 11,063 | 22,000 | 10,937 | 11,063 | 22,000 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | |||
Bicycle | Europe | 66,479 | 80,521 | 147,000 | 66,479 | 80,521 | 147,000 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | ||
Components | China | 49,687 | 45,313 | 95,000 | 49,687 | 45,313 | 95,000 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | ||
Taiwan | 13,509 | 22,491 | 36,000 | 13,509 | 22,491 | 36,000 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | |||
Others | 18,198 | 22,802 | 41,000 | 18,198 | 22,802 | 41,000 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | |||
* | Total | 162,595 | 185,405 | 348,000 | 162,595 | 185,405 | 348,000 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | ||
Fishing | Japan | 16,802 | 14,198 | 31,000 | 16,802 | 14,198 | 31,000 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | ||
Overseas | 37,267 | 33,233 | 70,500 | 37,267 | 33,233 | 70,500 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | |||
Tackle | |||||||||||||||
* | Total | 54,069 | 47,431 | 101,500 | 54,069 | 47,431 | 101,500 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | ||
Others | 223 | 277 | 500 | 223 | 277 | 500 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | |||
Sales Total | 216,887 | 233,113 | 450,000 | 216,887 | 233,113 | 450,000 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | |||
Profit ratio(%) | 38.7 | 37.5 | 38.1 | 38.7 | 37.5 | 38.1 | 0.0 | 0.0 | 0.0 | ||||||
Gross profit | 83,937 | 87,363 | 171,300 | 83,937 | 87,363 | 171,300 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | |||
Selling, general and administrative exp. | 52,982 | 52,318 | 105,300 | 52,982 | 52,318 | 105,300 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | |||
14.3 | 15.0 | 14.7 | 14.3 | 15.0 | 14.7 | 0.0 | 0.0 | 0.0 | |||||||
Operating income | 30,955 | 35,045 | 66,000 | 30,955 | 35,045 | 66,000 | 0 | 0.0% | 0 | 0.0% | 0 | 0.0% | |||
Non operating income & exp, net | 24,670 | 9,330 | 34,000 | 24,670 | -13,170 | 11,500 | 0 | － | -22,500 | － | -22,500 | － | |||
25.6 | 19.0 | 22.2 | 25.6 | 9.4 | 17.2 | 0.0 | -9.6 | -5.0 | |||||||
Ordinary income | 55,626 | 44,374 | 100,000 | 55,626 | 21,874 | 77,500 | 0 | 0.0% | -22,500 | -50.7% | -22,500 | -22.5% | |||
Extraordinary gain (loss) | -63 | -7 | -70 | -63 | -37 | -100 | 0 | － | -30 | － | -30 | － | |||
25.6 | 19.0 | 22.2 | 25.6 | 9.4 | 17.2 | 0.0 | -9.6 | -5.0 | |||||||
Net income before income taxes | 55,563 | 44,367 | 99,930 | 55,563 | 21,837 | 77,400 | 0 | 0.0% | -22,530 | -50.8% | -22,530 | -22.5% | |||
Income taxes | 11,858 | 11,072 | 22,930 | 11,858 | 9,542 | 21,400 | 0 | 0.0% | -1,530 | -13.8% | -1,530 | -6.7% | |||
Net income attributable to | 20.2 | 14.3 | 17.1 | 20.2 | 5.3 | 12.4 | 0.0 | -9.0 | -4.7 | ||||||
owners of parent | 43,705 | 33,295 | 77,000 | 43,705 | 12,295 | 56,000 | 0 | 0.0% | -21,000 | -63.1% | -21,000 | -27.3% |
* Bicycle components Sales and Fishing Tackle Sales indicate amount of sales which is divided into destinations where the products are shipped.
2
OPERATING INCOME BY SEGMENT
(million JPY)
Bike | Fishing | Others | Total | ||
24 | Sales | 348,000 | 101,500 | 500 | 450,000 |
Operating income | 55,500 | 10,500 | 0 | 66,000 | |
(S) | |||||
Profit ratio | 15.9% | 10.3% | 0.0% | 14.7% | |
23 | Sales | 364,679 | 109,226 | 458 | 474,363 |
Operating income | 65,251 | 18,413 | -11 | 83,654 | |
Profit ratio | 17.9% | 16.9% | -2.4% | 17.6% | |
22 | Sales | 517,437 | 110,993 | 480 | 628,910 |
Operating income | 144,994 | 24,163 | 1 | 169,159 | |
Profit ratio | 28.0% | 21.8% | 0.3% | 26.9% | |
21 | Sales | 443,679 | 102,389 | 448 | 546,515 |
Operating income | 125,147 | 23,121 | 21 | 148,288 | |
Profit ratio | 28.2% | 22.6% | 4.6% | 27.1% | |
20 | Sales | 297,777 | 79,907 | 356 | 378,040 |
Operating income | 68,494 | 14,264 | -57 | 82,701 | |
Profit ratio | 23.0% | 17.9% | -16.1% | 21.9% | |
19 | Sales | 290,039 | 72,838 | 353 | 363,231 |
Operating income | 57,851 | 10,220 | -60 | 68,010 | |
Profit ratio | 19.9% | 14.0% | -17.0% | 18.7% | |
18 | Sales | 277,243 | 70,436 | 356 | 348,036 |
Operating income | 57,251 | 8,545 | -107 | 65,688 | |
Profit ratio | 20.6% | 12.1% | -30.1% | 18.9% | |
17 | Sales | 270,207 | 65,221 | 373 | 335,801 |
Operating income | 57,410 | 7,013 | -72 | 64,351 | |
Profit ratio | 21.2% | 10.8% | -19.4% | 19.2% | |
16 | Sales | 259,455 | 63,144 | 400 | 322,999 |
Operating income | 57,875 | 6,842 | -170 | 64,546 | |
Profit ratio | 22.3% | 10.8% | -42.7% | 20.0% | |
15 | Sales | 314,010 | 64,245 | 390 | 378,646 |
Operating income | 79,817 | 5,372 | -136 | 85,054 | |
Profit ratio | 25.4% | 8.4% | -34.7% | 22.5% | |
14 | Sales | 273,956 | 58,825 | 387 | 333,168 |
Operating income | 62,033 | 3,943 | -160 | 65,816 | |
Profit ratio | 22.6% | 6.7% | -41.4% | 19.8% | |
13 | Sales | 217,263 | 53,398 | 376 | 271,037 |
Operating income | 39,506 | 2,405 | -135 | 41,776 | |
Profit ratio | 18.2% | 4.5% | -35.9% | 15.4% |
SALES BY SHIPMENT DESTINATION(#1) / MANUFACTORY LOCATION(#2) / CURRENCIES(#3)
(million JPY)
23 Results | 24-1H Results | 24-2H Schedule | 24 Schedule | |||||||
Sales | 474,363 | 100.0% | 216,887 | 100.0% | 233,113 | 100.0% | 450,000 | 100.0% | ||
#1 | Domestic market | 48,714 | 10.3% | 20,806 | 9.6% | 17,694 | 7.6% | 38,500 | 8.6% | |
Overseas market | 425,649 | 89.7% | 196,081 | 90.4% | 215,419 | 92.4% | 411,500 | 91.4% | ||
#2 | Domestic production | 241,313 | 50.9% | 102,062 | 47.1% | 106,438 | 45.7% | 208,500 | 46.3% | |
Overseas production | 233,050 | 49.1% | 114,825 | 52.9% | 126,675 | 54.3% | 241,500 | 53.7% | ||
#3 | Sales in Yen | 215,945 | 45.5% | 91,032 | 42.0% | 96,618 | 41.4% | 187,650 | 41.7% | |
Sales in foreign currency | 258,417 | 54.5% | 125,855 | 58.0% | 136,495 | 58.6% | 262,350 | 58.3% | ||
USD average rate | 140.67 | 152.36 | 159.64 | 156.00 | ||||||
EUR average rate | 152.11 | 164.69 | 175.31 | 170.00 | ||||||
CAPITAL INVESTMENT / DEPRECIATION AND AMORTIZATION | ||||||||||
(million JPY) | ||||||||||
23 Results | 24-1H Results | 24-2H Schedule | 24 Schedule | |||||||
Capital Investment | 31,357 | 23,035 | 16,965 | 40,000 | ||||||
Depreciation and amortization | 23,440 | 12,395 | 11,605 | 24,000 | ||||||
QUARTERLY SALES AND OPERATING INCOME | ||||||||||
(million JPY) | ||||||||||
1Q | 2Q | 1H | 3Q | 4Q | 2H | Total | ||||
'24 Sales (Schedule) | 100,558 | 116,330 | 216,887 | 117,992 | 115,121 | 233,113 | 450,000 | |||
Bicycle Components | 76,090 | 86,505 | 162,595 | 91,266 | 94,139 | 185,405 | 348,000 | |||
Fishing Tackle | 24,370 | 29,700 | 54,069 | 26,621 | 20,810 | 47,431 | 101,500 | |||
Others | 98 | 125 | 223 | 105 | 172 | 277 | 500 | |||
'24 Operating Income (Schedule) | 13,421 | 17,534 | 30,955 | 19,696 | 15,348 | 35,045 | 66,000 | |||
Bicycle Components | 10,471 | 13,857 | 24,328 | 17,014 | 14,157 | 31,172 | 55,500 | |||
Fishing Tackle | 2,961 | 3,691 | 6,652 | 2,672 | 1,176 | 3,848 | 10,500 | |||
Others | -11 | -14 | -25 | 10 | 14 | 25 | 0 | |||
'23 Sales (Results) | 126,072 | 137,179 | 263,251 | 112,013 | 99,099 | 211,112 | 474,363 | |||
Bicycle Components | 98,298 | 106,689 | 204,987 | 84,457 | 75,236 | 159,692 | 364,679 | |||
Fishing Tackle | 27,670 | 30,358 | 58,028 | 27,445 | 23,753 | 51,198 | 109,226 | |||
Others | 103 | 133 | 236 | 112 | 110 | 222 | 458 | |||
'23 Operating Income (Results) | 28,010 | 25,898 | 53,908 | 18,179 | 11,567 | 29,746 | 83,654 | |||
Bicycle Components | 22,123 | 19,970 | 42,093 | 13,825 | 9,334 | 23,158 | 65,251 | |||
Fishing Tackle | 5,895 | 5,949 | 11,844 | 4,356 | 2,213 | 6,569 | 18,413 | |||
Others | -8 | -21 | -29 | -2 | 20 | 18 | -11 |
3
Consolidated Sales/Operating Income/Net Income Attributable to Owners of Parent
（x100 million Yen） | (Yen) | ||||||||||||||||
6,500 | Operating Income | 6,289 | 1,600.00 | ||||||||||||||
6,000 | Sales | ||||||||||||||||
Net Income Attributable to Owners of Parent | 1,408.22 | ||||||||||||||||
5,500 | Basic Earnings per Share | 5,465 | 1,400.00 | ||||||||||||||
1,252.62 | |||||||||||||||||
5,000 | 4,744 | 1,200.00 | |||||||||||||||
4,500 | 4,500 | ||||||||||||||||
4,000 | 3,786 | 3,780 | 1,000.00 | ||||||||||||||
3,632 | |||||||||||||||||
3,480 | |||||||||||||||||
3,500 | 3,332 | 821.87 | 3,358 | ||||||||||||||
3,230 | |||||||||||||||||
800.00 | |||||||||||||||||
3,000 | 2,710 | 684.71 | |||||||||||||||
626.92 | |||||||||||||||||
581.77 | |||||||||||||||||
2,500 | 552.70 | 549.76 | 559.15 | 676.77 | 600.00 | ||||||||||||
2,000 | 414.69 | 1,692 | |||||||||||||||
378.50 | |||||||||||||||||
1,483 | 400.00 | ||||||||||||||||
1,500 | 1,282 | ||||||||||||||||
1,159 | |||||||||||||||||
1,000 | 658 | 851 | 762 | 645 | 644 | 657 | 680 | 827 | 837 | 660 | 200.00 | ||||||
635 | 611 | 560 | |||||||||||||||
539 | |||||||||||||||||
500 | 418 | 512 | 510 | 384 | 518 | ||||||||||||
351 | |||||||||||||||||
0 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024(S) | 0.00 | ||||
4 |
(％) | ROA & ROE | ||||||||||
25.0 | |||||||||||
21.7 | ROA | ROE | |||||||||
20.2 | |||||||||||
18.9 | |||||||||||
20.0 | |||||||||||
17.1 | 18.4 | ||||||||||
14.5 | 17.9 | ||||||||||
15.0 | 16.7 | ||||||||||
13.4 | |||||||||||
12.2 | 12.5 | ||||||||||
14.3 | 11.0 | ||||||||||
10.0 | 12.2 | 11.7 | 9.4 | 10.9 | 11.2 | 7.9 | |||||
9.9 | |||||||||||
8.2 | 7.2 | ||||||||||
5.0 | |||||||||||
0.0 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 |
(Unit 1,000 Shares) | Treasury Stock Acquired | (Mil. Shares) |
6,000 | 120 | ||||||||||
Annual Acquisition(LHS) | Accumulated Acquisition(RHS) | Common Stock Issued(RHS) | |||||||||
(excluding Treasury Stock) | |||||||||||
5,000 | 100 | ||||||||||
4,000 | 80 | ||||||||||
3,000 | 60 | ||||||||||
2,000 | 40 | ||||||||||
1,000 | 20 | ||||||||||
0 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 0 |
13 | 24-3Q |
(Mil. Yen) | Total Assets & Shareholders' Equity | (%) | (Yen) |
Dividends per Share
900,000 | 100.0 | |||
850,000 | Total Assets | Shareholders' Equity | Equity Ratio | 350 |
800,000 | ||||
90.0 | ||||
750,000 | 300 | |||
700,000 | 250 | |||
650,000 | 80.0 | |||
600,000 | ||||
200 | ||||
550,000 | ||||
500,000 | 70.0 | 150 | ||
450,000 | ||||
400,000 | 100 | |||
350,000 | 60.0 | |||
300,000 | 50 | |||
250,000 | ||||
200,000 | 50.0 | 0 |
87
105
155 155
200
155 155 155 155
235
260
285
309
13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 |
13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24(S) |
* In FY2020, a commemorative dividend for the 100th anniversary of Company's founding was included.
5
(x100 million Yen)
5,500 | Japan | |
5,000 | North America | |
Europe | ||
Bicycle Components Sales (by Shipment Destination)
5,174
124
313
4,500 | China | ||||||
4,000 | Taiwan | ||||||
Others | |||||||
3,500 | |||||||
3,140 | |||||||
3,000 | 99 | ||||||
2,740 | 251 | ||||||
94 | |||||||
2,500 | 225 | ||||||
2,173 | |||||||
1,355 | |||||||
2,000 | 85 | ||||||
214 | 1,120 | ||||||
1,500 | |||||||
856 | |||||||
556 | |||||||
1,000 | 592 | ||||||
430 | |||||||
500 | 487 | ||||||
396 | |||||||
332 | |||||||
392 | |||||||
313 | |||||||
0 | 255 | ||||||
2,595
95
209
1,150
439
377
324
2,702
100
213
1,199
449
367
373
2,772
103
209
1,315
370
421
353
2,900
82
209
1,426
345
450
389
2,978
82
224
1,411
410
416
435
4,437
101
275
2,169
567
498
826
2,885
580
560
712
3,647
107
201
1,866
637
421
416
3,480
70
220
1,470
950
360
410
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024(S) |
Bicycle components Sales indicate amount of sales which is divided into destinations where the products are shipped.
6
(x100 million Yen)
1,200
1,100
Japan |
1,000 |
Overseas |
900 |
Fishing Tackle Sales
1,024
1,110
415
1,092
376
1,015
310
800 | ||
700 | ||
600 | 588 | |
534 |
642 631
652
704
305
728
322
799
365
447
500 |
235 |
226 |
400 |
300 |
200 |
354 |
308 |
100 |
0 |
246
396
271
360
279
373
399
406
434
577
695
716
705
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024(S) |
Fishing Tackle Sales indicate amount of sales which is divided into destinations where the products are shipped. 7