Legal Status This site displays a prototype of a “Web 2.0” version of the daily
Federal Register. It is not an official legal edition of the Federal
Register, and does not replace the official print version or the official
electronic version on GPO’s govinfo.gov.

The documents posted on this site are XML renditions of published Federal
Register documents. Each document posted on the site includes a link to the
corresponding official PDF file on govinfo.gov. This prototype edition of the
daily Federal Register on FederalRegister.gov will remain an unofficial
informational resource until the Administrative Committee of the Federal
Register (ACFR) issues a regulation granting it official legal status.
For complete information about, and access to, our official publications
and services, go to About the Federal Register on NARA's archives.gov.

The OFR/GPO partnership is committed to presenting accurate and reliable
regulatory information on FederalRegister.gov with the objective of
establishing the XML-based Federal Register as an ACFR-sanctioned
publication in the future. While every effort has been made to ensure that
the material on FederalRegister.gov is accurately displayed, consistent with
the official SGML-based PDF version on govinfo.gov, those relying on it for
legal research should verify their results against an official edition of
the Federal Register. Until the ACFR grants it official status, the XML
rendition of the daily Federal Register on FederalRegister.gov does not
provide legal notice to the public or judicial notice to the courts.

Legal Status

Notice

Proposed Settlement Agreement, Stipulation, Order and Judgment, etc.; Shimano, Inc. and Shimano North America Holding, Inc.

A Notice by the Consumer Product Safety Commission on 03/17/2026

• 1.

1.
This document has a comment period that ends in 15 days.
(04/01/2026) View Comment Instructions

Thank you for taking the time to create a comment. Your input is important.

Once you have filled in the required fields below you can preview and/or submit your comment to the Consumer Product Safety Commission for review. All comments are considered public and will be posted online once the Consumer Product Safety Commission has reviewed them.

You can view alternative ways to comment or you may also comment via Regulations.gov at /documents/2026/03/17/2026-05135/proposed-settlement-agreement-stipulation-order-and-judgment-etc-shimano-inc-and-shimano-north.

It appears that you have attempted to comment on this document before
so we've restored your progress.
Start over.
1.
2. Comment * What is your comment about? Upload File(s) Note: You can attach your comment as a file and/or attach supporting
documents to your comment. Attachment Requirements.

Email this will NOT be posted on regulations.gov

Opt to receive email confirmation of submission and tracking number? Tell us about yourself! I am... * An Individual An Organization Anonymous First Name * Last Name * City Region State Alabama Alaska American Samoa Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Guam Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virgin Islands Virginia Washington West Virginia Wisconsin Wyoming Zip Country Afghanistan Åland Islands Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia, Plurinational State of Bonaire, Sint Eustatius and Saba Bosnia and Herzegovina Botswana Bouvet Island Brazil British Indian Ocean Territory Brunei Darussalam Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos (Keeling) Islands Colombia Comoros Congo Congo, the Democratic Republic of the Cook Islands Costa Rica Côte d'Ivoire Croatia Cuba Curaçao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands (Malvinas) Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Holy See (Vatican City State) Honduras Hong Kong Hungary Iceland India Indonesia Iran, Islamic Republic of Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Korea, Democratic People's Republic of Korea, Republic of Kuwait Kyrgyzstan Lao People's Democratic Republic Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macao Macedonia, the Former Yugoslav Republic of Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia, Federated States of Moldova, Republic of Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar Namibia Nauru Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island Northern Mariana Islands Norway Oman Pakistan Palau Palestine, State of Panama Papua New Guinea Paraguay Peru Philippines Pitcairn Poland Portugal Puerto Rico Qatar Réunion Romania Russian Federation Rwanda Saint Barthélemy Saint Helena, Ascension and Tristan da Cunha Saint Kitts and Nevis Saint Lucia Saint Martin (French part) Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten (Dutch part) Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syrian Arab Republic Taiwan, Province of China Tajikistan Tanzania, United Republic of Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu Uganda Ukraine United Arab Emirates United Kingdom United States United States Minor Outlying Islands Uruguay Uzbekistan Vanuatu Venezuela, Bolivarian Republic of Viet Nam Virgin Islands, British Virgin Islands, U.S. Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe Phone Organization Type * Company Organization Federal State Local Tribal Regional Foreign U.S. House of Representatives U.S. Senate Organization Name * You are filing a document into an official docket. Any personal
information included in your comment text and/or uploaded
attachment(s) may be publicly viewable on the web. I read and understand the statement above.

2. Preview Comment Please review the Regulations.gov privacy notice and user notice.
3. Document Details Published Content - Document Details Agency Consumer Product Safety Commission Agency/Docket Number CPSC Docket No. 26-C0002 Document Citation 91 FR 12761 Document Number 2026-05135 Document Type Notice Pages 12761-12764 (4 pages) Publication Date 03/17/2026 Published Content - Document Details

• PDF Official Content
  • View printed version (PDF) Official Content
• Document Details Published Content - Document Details Agency Consumer Product Safety Commission Agency/Docket Number CPSC Docket No. 26-C0002 Document Citation 91 FR 12761 Document Number 2026-05135 Document Type Notice Pages 12761-12764 (4 pages) Publication Date 03/17/2026 Published Content - Document Details
• Document Dates Published Content - Document Dates Comments Close 04/01/2026 Dates Text Any interested person may ask the Commission not to accept this agreement or otherwise comment on its contents by filing a written request with the Office of the Secretary by April 1, 2026. Published Content - Document Dates

• Table of Contents Enhanced Content - Table of Contents This table of contents is a navigational tool, processed from the
  headings within the legal text of Federal Register documents.
  This repetition of headings to form internal navigation links
  has no substantive legal effect.

  • AGENCY:
  • ACTION:
  • SUMMARY:
  • DATES:
  • ADDRESSES:
  • FOR FURTHER INFORMATION CONTACT:
  • SUPPLEMENTARY INFORMATION:
  • UNITED STATES OF AMERICA CONSUMER PRODUCT SAFETY COMMISSION
  • Settlement Agreement
  • The Parties
  • Staff Charges
  • Violation of CPSA Section 19(a)(4)
  • Failure To Timely Report
  • Response of Shimano
  • Agreement of the Parties
  • United States of America
  • Consumer Product Safety Commission
  • Order Enhanced Content - Table of Contents

• Public Comments Enhanced Content - Public Comments Comments are being accepted - View Comment Instructions.

Enhanced Content - Public Comments
- Regulations.gov Data Enhanced Content - Regulations.gov Data Additional information is not currently available for this document.

Enhanced Content - Regulations.gov Data

- Sharing Enhanced Content - Sharing Shorter Document URL https://www.federalregister.gov/d/2026-05135 Email Email this document to a friend Enhanced Content - Sharing

• Print Enhanced Content - Print
  • Print this document Enhanced Content - Print
• Other Formats Enhanced Content - Other Formats This document is also available in the following formats:

JSON Normalized attributes and metadata XML Original full text XML MODS Government Publishing Office metadata More information and documentation can be found in our developer tools pages.

Enhanced Content - Other Formats
- Public Inspection Public Inspection This PDF is FR Doc. 2026-05135 as it appeared on Public Inspection on
03/16/2026 at 8:45 am.

It was viewed
17
times while on Public Inspection.

If you are using public inspection listings for legal research, you
should verify the contents of the documents against a final, official
edition of the Federal Register. Only official editions of the
Federal Register provide legal notice of publication to the public and judicial notice
to the courts under 44 U.S.C. 1503 & 1507. Learn more here.

Public Inspection
Published Document: 2026-05135 (91 FR 12761) This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

Document Headings Document headings vary by document type but may contain
the following:

1. the agency or agencies that issued and signed a document
2. the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to
3. the agency docket number / agency internal file number
4. the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details.

Consumer Product Safety Commission

1. [CPSC Docket No. 26-C0002]

AGENCY:

Consumer Product Safety Commission.

ACTION:

Notice.

SUMMARY:

The Commission publishes in the Federal Register any settlement that it provisionally accepts under the Consumer Product Safety Act. Published below is a provisionally accepted Settlement Agreement with Shimano, Inc. and Shimano North America Holding, Inc., containing a civil penalty in the amount of $11,500,000 subject to the terms and conditions of the Settlement Agreement. The Commission provisionally accepted the proposed Settlement Agreement and Order pertaining to Shimano, Inc. and Shimano North America Holding, Inc.

DATES:

Any interested person may ask the Commission not to accept this agreement or otherwise comment on its contents by filing a written request with the Office of the Secretary by April 1, 2026.

ADDRESSES:

Persons wishing to comment on this Settlement Agreement should send written comments to Comment 26-C0002, Office of the Secretary, Consumer Product Safety Commission, 4330 East West Highway, Bethesda, MD 20814; telephone: (301) 504-7479 (office); email: cpsc-os@cpsc.gov.

FOR FURTHER INFORMATION CONTACT:

Liana G.T. Wolf, Senior Trial Attorney, Division of Enforcement and Litigation, Office of Compliance and Field Operations, Consumer Product Safety Commission, 4330 East West Highway, Bethesda, Maryland 20814; lwolf@cpsc.gov; 240-743-8559 (mobile).

SUPPLEMENTARY INFORMATION:

The text of the Settlement Agreement and Order appear below.

Dated: March 12, 2026.

Brianna Bell,

Paralegal Specialist.

UNITED STATES OF AMERICA CONSUMER PRODUCT SAFETY COMMISSION

In the Matter of:

CPSC Docket No.: 26-C0002

SHIMANO, INC. AND SHIMANO

NORTH AMERICA HOLDING, INC.

Settlement Agreement

1. In accordance with the Consumer Product Safety Act, 15 U.S.C. 2051-2089 (“CPSA”), and 16 CFR 1118.20, Shimano, Inc. and Shimano North America Holding, Inc. (collectively, “Shimano” or “the Firm”), and the United States Consumer Product Safety Commission (“Commission” or “CPSC”), through its staff, hereby enter into this Settlement Agreement (“Agreement”). The Agreement and the incorporated attached Order resolve staff's charges set forth below.

The Parties

1. The Commission is an independent federal regulatory agency, established pursuant to, and responsible for, the enforcement of the CPSA, 15 U.S.C. 2051-2089. By executing the Agreement, staff is acting on behalf of the Commission, pursuant to 16 CFR § 1118.20(b). The Commission issues the Order under the provisions of the CPSA.

2. Shimano, Inc. is a corporation, organized and existing under the laws of ( printed page 12762) Japan, with its principal place of business in Japan.

3. Shimano North America Holding, Inc. is a corporation, organized and existing under the laws of the state of California, with its principal place of business in Irvine, California. Shimano North America Holding, Inc. is a subsidiary of Shimano, Inc.

Staff Charges

1. Between 2012 and 2023, approximately 680,000 11-Speed Bonded Hollowtech II Bicycle Cranksets, Models Ultegra FC-6800 and FC-R8000 and Dura-Ace FC-9000, FC-R9100, and FC-R9100P (collectively, the “Subject Products”) were imported and distributed in the United States.

2. The Subject Products are “consumer products” that were “manufactured” and “import[ed]” and “distribut[ed] in commerce,” as those terms are defined or used in sections 3(a)(5), (7), (9), and (10) of the CPSA, 15 U.S.C. 2052(a)(5), (7), (9), and (10). Shimano, Inc. is the “manufacturer” of the Subject Products, and Shimano North America Holding, Inc. is a “distributor” of the Subject Products, as such terms are defined in sections 3(a)(8) and (11) of the CPSA, 15 U.S.C. 2052(a)(8) and (11).

Violation of CPSA Section 19(a)(4)

1. The Subject Products contain a defect which could create a substantial product hazard or create an unreasonable risk of serious injury or death because the recalled bonded crank parts can separate and break, posing a crash hazard to consumers.

2. Between 2013 and 2022, Shimano received thousands of warranty claims relating to the Subject Products and dozens of reports of consumers globally sustaining personal injuries while using the Subject Products, including bone fractures, joint displacement, and lacerations, due to falls from bicycles, contact with the broken Subject Products, and impact with the ground.

3. During this time, Shimano, Inc. made nine overall manufacturing and design changes that resulted in over twenty-five individual changes to the Subject Products to mitigate the potential for the Subject Products to separate and break.

4. Despite possessing information that reasonably supported the conclusion that the Subject Products contained a defect which could create a substantial product hazard or created an unreasonable risk of serious injury or death, Shimano did not immediately report to the Commission.

5. The Commission and Shimano North America Bicycle, Inc. jointly announced a recall of the Subject Products on September 21, 2023. The press release announcing the recall stated that the Firm had received at least 4,519 incidents of cranksets separating, and six reported injuries, including bone fractures, joint displacement, and lacerations.

Failure To Timely Report

1. Despite having information reasonably supporting the conclusion that the Subject Products contained a defect which could create a substantial product hazard or created an unreasonable risk of serious injury or death, Shimano did not notify the Commission immediately of such defect or risk, as required by sections 15(b)(3) and (4) of the CPSA, 15 U.S.C. 2064(b)(3), (4), in violation of section 19(a)(4) of the CPSA, 15 U.S.C. 2068(a)(4).

2. Because the information in Shimano's possession about the Subject Products constituted actual and presumed knowledge, Shimano knowingly violated section 19(a)(4) of the CPSA, 15 U.S.C. 2068(a)(4), as the term “knowingly” is defined in section 20(d) of the CPSA, 15 U.S.C. 2069(d).

3. Pursuant to section 20 of the CPSA, 15 U.S.C. 2069, Shimano is subject to civil penalties for its knowing violation of section 19(a)(4) of the CPSA, 15 U.S.C. 2068(a)(4).

Response of Shimano

1. Shimano has a longstanding history of proactively working with the CPSC and remains committed to doing so. This Agreement does not constitute an admission by Shimano to the staff's charges as set forth in Paragraphs 5 through 14 above, including, without limitation, that the Subject Products contained a defect that could create a substantial product hazard or created an unreasonable risk of serious injury or death; or, that Shimano failed to notify the Commission in a timely manner in accordance with section 15(b) of the CPSA, 15 U.S.C. 2064(b); or, that Shimano knowingly violated section 19(a)(4) of the CPSA, 15 U.S.C. 2068(a)(4), as the term “knowingly” is defined in section 20(d) of the CPSA, 15 U.S.C. 2069(d).

2. As part of the corrective action, Shimano voluntarily agreed to start an inspection and replacement program whereby Shimano agreed to replace any Subject Products if they failed the inspection free of charge. Since the start of the inspection and replacement program, there have been no reported injuries by consumers.

3. Shimano enters into this Agreement to settle this matter and to avoid the distraction, delay, uncertainty, and inconvenience of protracted litigation or other proceedings. Shimano does not admit that it violated the CPSA or any other law, and Shimano's willingness to enter into this Agreement and Order does not constitute, nor is it evidence of, an admission by Shimano of liability, or violation of any law.

Agreement of the Parties

1. Under the CPSA, the Commission has jurisdiction over the matter involving the Subject Products and over Shimano.

2. The parties enter into the Agreement for settlement purposes only. The Agreement does not constitute an admission by Shimano or a determination by the Commission that Shimano violated the CPSA.

3. In settlement of staff's charges, Shimano shall pay a civil penalty in the amount of eleven million, five hundred thousand dollars ($11,500,000). The $11,500,000 Payment shall be paid within thirty (30) calendar days after receiving service of the Commission's final Order accepting the Agreement. All payments to be made under the Agreement shall constitute debts owing to the United States and shall be made by electronic wire transfer to the United States via http://www.pay.gov, for allocation to, and credit against, the payment obligations of Shimano under this Agreement. Failure to make such payment by the date specified in the Commission's final Order shall constitute Default.

4. The Commission or the United States may seek enforcement for any breach of, or any failure to comply with, any provision of this Agreement and Order in United States District Court, to seek relief including, but not limited to, collecting amounts due.

5. All unpaid amounts, if any, due and owing under the Agreement, shall constitute a debt due and immediately owing by Shimano to the United States, and interest shall accrue and be paid by Shimano at the federal legal rate of interest set forth at 28 U.S.C. 1961(a) and (b) from the date of Default, until all amounts due have been paid in full (hereinafter “Default Payment Amount” and “Default Interest Balance”). Shimano shall consent to a Consent Judgment in the amount of the Default Payment Amount and Default Interest Balance, and the United States, at its sole option, may collect the entire Default Payment Amount and Default Interest Balance, or exercise any other rights granted by law or in equity, including, but not limited to, referring such matters for private collection, and Shimano agrees not to contest, and ( printed page 12763) hereby waives and discharges any defenses to, any collection action undertaken by the United States, or its agents or contractors, pursuant to this paragraph. Shimano shall pay the United States all reasonable costs of collection and enforcement under this paragraph, respectively, including reasonable attorney's fees and expenses.

6. After staff receives this Agreement executed on behalf of Shimano, staff shall promptly submit the Agreement to the Commission for provisional acceptance. Promptly following provisional acceptance of the Agreement by the Commission, the Agreement shall be placed on the public record and published in the Federal Register, in accordance with the procedures set forth in 16 CFR 1118.20(e). If the Commission does not receive any written request not to accept the Agreement within fifteen (15) calendar days, the Agreement shall be deemed finally accepted on the 16th calendar day after the date the Agreement is published in the Federal Register, in accordance with 16 CFR 1118.20(f).

7. This Agreement is conditioned upon, and subject to, the Commission's final acceptance, as set forth above, and it is subject to the provisions of 16 CFR 1118.20(h). Upon the later of: (i) the Commission's final acceptance of this Agreement and service of the accepted Agreement upon Shimano, and (ii) the date of issuance of the final Order, this Agreement shall be in full force and effect, and shall be binding upon the parties.

8. Effective upon the later of: (1) the Commission's final acceptance of the Agreement and service of the accepted Agreement upon Shimano, and (2) the date of issuance of the final Order, for good and valuable consideration, Shimano hereby expressly and irrevocably waives and agrees not to assert any past, present, or future rights to the following, in connection with the matter described in this Agreement:

(i) an administrative or judicial hearing;

(ii) judicial review or other challenge or contest of the Commission's actions;

(iii) a determination by the Commission of whether Shimano failed to comply with the CPSA and the underlying regulations;

(iv) a statement of findings of fact and conclusions of law; and

(v) any claims under the Equal Access to Justice Act.

1. Shimano shall maintain a compliance program designed to ensure compliance with the CPSA with respect to any Shimano consumer product imported, manufactured, distributed or sold in the United States, which shall contain the following elements:

(i) written standards, policies, and procedures, including those designed to ensure that information that may relate to or impact CPSA compliance is conveyed effectively to personnel responsible for CPSA compliance, whether or not an injury has been reported;

(ii) procedures and systems for tracking and reviewing claims, including warranty claims, and reports for safety concerns reported by consumers, whether inside or outside the United States, and for implementing corrective and preventive actions when compliance deficiencies or violations are identified;

(iii) procedures requiring that information required to be disclosed by Shimano to the Commission is recorded, processed, and reported in accordance with applicable law;

(iv) procedures requiring that all reporting made to the Commission is timely, truthful, complete, accurate, and in accordance with applicable law;

(v) procedures requiring that prompt disclosure is made to Shimano management of any significant deficiencies or material weaknesses in the design or operation of such internal controls that are reasonably likely to affect adversely, in any material respect, Shimano's ability to record, process and report to the Commission in accordance with applicable law;

(vi) mechanisms to effectively communicate to all applicable Shimano employees, through training programs or other means, compliance-related company policies and procedures to prevent violations of the CPSA;

(vii) a mechanism for confidential employee reporting of compliance-related questions or concerns to either a compliance officer or to another senior manager with authority to act as necessary;

(viii) Shimano's senior management responsibility for, and general board oversight of, CPSA compliance, including the implementation of steps to ensure that incident and injury data is reviewed and analyzed for purposes of CPSA Section 15(b) reporting;

(ix) an annual internal audit of the effectiveness of policies, procedures, systems, and training related to CPSA compliance that evaluates opportunities for improvement, deficiencies or weaknesses, and the Firm's overall culture of compliance; and

(x) retention of all CPSA compliance-related records for at least five (5) years, and availability of such records to CPSC staff upon request.

1. Shimano shall submit a report under CPSA Section 16(b), sworn to under penalty of perjury:

(i) describing in detail its compliance program and internal controls and the actions Shimano has taken to comply with each subparagraph of paragraph 26;

(ii) affirming that during the reporting period, Shimano has reviewed its compliance program and internal controls, including the actions referenced in subparagraph (i) of this paragraph, for effectiveness, and that it complies with each subparagraph of paragraph 26, or describing in detail any non-compliance with any such subparagraph; and

(iii) identifying the results of the annual internal audit referenced in paragraph 26(ix) and any changes or modifications made during the reporting period to Shimano's compliance program or internal controls to ensure compliance with the terms of the CPSA and, in particular, the requirements of CPSA Section 15 related to timely reporting.

Such reports shall be submitted to the Director, Office of Compliance and Field Operations, Division of Enforcement and Litigation, for a period of three (3) years. The first report shall be submitted 30 days after the close of the first 12-month reporting period, which begins on the date of the Commission's Final Order of Acceptance of the Agreement, and successive reports shall be due annually on the same date thereafter. Without limitation, Shimano acknowledges and agrees that failure to make such timely and accurate reports, as required by this Agreement and Order, may constitute a violation of Section 19(a)(3) of the CPSA, 15 U.S.C. 2068(a)(3), and may subject Shimano to enforcement under Section 22 of the CPSA, 15 U.S.C. 2071.

1. Notwithstanding and in addition to the above, Shimano shall promptly provide written documentation of any changes or modifications to its compliance program or internal controls and procedures, including the effective dates of the changes or modifications thereto. Shimano shall cooperate fully and truthfully with staff and shall make available all non-privileged information and materials and personnel deemed necessary by staff to evaluate Shimano's compliance with the terms of the Agreement.

2. The parties acknowledge and agree that the Commission may publicize the terms of the Agreement and the Order.

3. Shimano represents that the Agreement: ( printed page 12764)

(i) is entered into freely and voluntarily, without any degree of duress or compulsion whatsoever;

(ii) has been duly authorized; and

(iii) constitutes the valid and binding obligation of Shimano, enforceable against Shimano in accordance with its terms. The individuals signing the Agreement on behalf of Shimano represent and warrant that they are duly authorized by Shimano to execute the Agreement.

1. The signatories represent that they are authorized to execute this Agreement.

2. The Agreement is governed by the laws of the United States.

3. The Agreement and the Order shall apply to, and be binding upon, Shimano and each of its parents, successors, transferees, and assigns; and a violation of the Agreement or Order may subject Shimano, and each of its parents, successors, transferees, and assigns, to appropriate legal action.

4. The Agreement, any attachments, and the Order constitute the complete agreement between the parties on the subject matter contained therein.

5. The Agreement may be used in interpreting the Order. Understandings, agreements, representations, or interpretations apart from those contained in the Agreement and the Order may not be used to vary or contradict their terms. For purposes of construction, the Agreement shall be deemed to have been drafted by both of the parties and shall not, therefore, be construed against any party, for that reason, in any subsequent dispute.

6. The Agreement may not be waived, amended, modified, or otherwise altered, except as in accordance with the provisions of 16 CFR 1118.20(h). The Agreement may be executed in counterparts.

7. If any provision of the Agreement or the Order is held to be illegal, invalid, or unenforceable under present or future laws effective during the terms of the Agreement and the Order, such provision shall be fully severable. The balance of the Agreement and the Order shall remain in full force and effect, unless the Commission and Shimano agree in writing that severing the provision materially affects the purpose of the Agreement and the Order.

(Signatures on next page)

SHIMANO, INC.

Dated: March 2, 2026.

By: /s/

Keisuke Nakano,

Executive Officer, Vice President, Process Engineering R&D Department and Supervising of Quality Assurance, Department in Process, Quality Management Division, Shimano, Inc.

Authorized Signatory.

SHIMANO NORTH AMERICA HOLDING, INC.

Dated: March 3, 2026.

By: /s/

Gerriet O'Neill,

Senior Vice President & Chief Financial Officer, Shimano North America Holding, Inc.

Authorized Signatory.

Dated: March 2, 2026.

By: /s/

Cheryl Falvey,

Crowell & Moring LLP, Counsel to Shimano.

Dated: March 2, 2026.

By: /s/

E. Paul Dougherty,

Gregory K. Lee,

Wilson Elser LLP, Counsel to Shimano.

U.S. CONSUMER PRODUCT SAFETY COMMISSION

Mary B. Murphy,

Director, Division of Enforcement and Litigation, Office of Compliance and Field Operations.

Dated: March 4, 2026.

By: /s/

Liana G.T. Wolf,

Senior Trial Attorney, Division of Enforcement and Litigation, Office of Compliance and Field Operations.

United States of America

Consumer Product Safety Commission

In the Matter of: SHIMANO, INC. AND SHIMANO NORTH AMERICA HOLDING, INC., CPSC Docket No.: 26-C0002

Order

Upon consideration of the Settlement Agreement entered into between Shimano, Inc. and Shimano North America Holding, Inc. (collectively, “Shimano” or “the Firm”) and the U.S. Consumer Product Safety Commission (“Commission” or “CPSC”), and the Commission having jurisdiction over the subject matter and over Shimano, and it appearing that the Settlement Agreement is in the public interest, the Settlement Agreement is incorporated by reference and it is:

Provisionally accepted and Order issued on the 12 day of March, 2026.

By Order of the Commission:

/s/

Alberta E. Mills,

Secretary, U.S. Consumer Product Safety Commission.

[FR Doc. 2026-05135 Filed 3-16-26; 8:45 am]

BILLING CODE 6355-01-P

Published Document: 2026-05135 (91 FR 12761)