Shimano's long history began in 1921 as a manufacturer of free wheels. Today it is one of the most prestigious producers of bicycle components and fishing gear. The philosophy of "keeping man and technology in harmony with nature" is reflected throughout Shimano's innovative product range - a range now used widely by demanding cyclists and sports fishermen in many parts of the world.
Shimano employs nearly 1000 people and enjoys world-wide sales of more than USD 1 billion per year.
The business is increasingly export orientated and in seeking to exploit fresh market opportunities wherever they arise, Shimano first signed an export factoring contract in 1984 in order to obtain full credit risk protection on Scandinavian importers with whom the company had not dealt before.
Shimano is now using export factoring for sales to many countries and sees it as a considerable element in their success overseas. Or as a spokesman for the company says: "It is an inexpensive and efficient way for a business to take advantage of export opportunities and to save time, staff resources, costs and difficulties. We have improved cashflow and a financial facility which grows in line with our sales. We have reduced the risk of bad debts and saved on administrative overheads which otherwise would have been incurred in sales ledger work, credit investigation, and debt collection. We can now make more cost effective use of our management time and expertise, all of which improves our competitiveness and enhances our own trading prospects".
Shimano has recognised that size and product reputation alone do not necessarily overcome some of the problems encountered in cross border trade. The benefits of an export factoring agreement with a Japanese Export Factor and the resulting access to the world wide FCI network are now an integral part of the company's overseas success.