Sumitomo Riko Sees Profits Decline for FY2020 Despite Strong Performance From High-Pressure Hoses

Sumitomo Riko Co. Ltd. (TYO:5191) recently posted its business results for fiscal 2020. The company revealed 397.94 billion yen ($3.66 billion) in sales revenue, down 10.6 percent year-on-year; 7.86 billion yen in business profit, down 30.6 percent; and a net loss of 4.96 billion yen, down from a net profit of 881 million yen in fiscal 2019. While sales for…

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