Sumitomo Rubber Downwardly Revises Results Forecast for 2018

Sumitomo Rubber Industries Ltd. (TYO:5110) has announced a downward revision to its forecast of business results for calendar 2018. Compared to the company’s initial forecast, the revision sees sales lowered by 1.1 percent, business profit by 6.8 percent and net profit by 10.4 percent. The main factor behind the revision is Sumitomo Rubber’s tire business, for which both sales and…

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