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Bicycle sales for Asahi Co. have surged 200 per cent since the quake, according to Japan Times.Asahi shares have gained 8.6 per cent during this period, leading the Topix Retail Trade Index. Overall the Topix has lost 10 per cent.
Bicycle part-maker Shimano Inc. has also gained 4.7 per cent since the quake. In Taiwan, bike maker Giant Manufacturing Co. has gained 3.9 per cent, beating the 0.8 per cent advance of the Taiex.
The Japanese are buying bikes after the trauma of March 11, when subways shut down and automobiles were deadlocked in the street. Only bicycles were able to escape freely.
They’re also buying bikes in anticipation of high gas prices, analysts tell Japan Times.