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How bicycle parts maker Shimano eclipsed Nissan in market cap

COVID-19 had something to do with it but globalization played a larger role

A Shimano-sponsored bike race last summer in Suzuka, Mie Prefecture. The company's market cap tells a story of globalization.

TOKYO -- The coronavirus crisis is dramatically adjusting the relative strength of companies, a trend not lost on the stock market, where the share price of Shimano, the big bicycle parts maker, hit another all-time high this month.

Shimano's market capitalization at the end of January, well before the outbreak became a full-blown pandemic, was 1.6 trillion yen ($15.3 billion). That was good for No. 86 in Japan. But by the end of July, the component maker's market cap reached 2.1 trillion yen, putting it at No. 61 in the same ranking.

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