Sumitomo Rubber Sees Decline in Business Profit for First Quarter

Sumitomo Rubber Industries Ltd. (TYO:5110) has released its business results for the January–March quarter of calendar 2020 in accordance with International Financial Reporting Standards (IFRS). The company reported sales revenue of 190.79 billion yen ($1.77 billion) for a year-on-year decrease of 9.7 percent, while business profit decreased 54.7 percent to 2.57 billion yen. Tire operations recorded sales revenue of 163.19…

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