Industry

Toyoda Gosei Becomes First Domestic Manufacturer With Sustainability-Linked Loan

Toyoda Gosei Co. Ltd. (TYO:7282) has contracted with MUFG Bank Ltd. for a sustainability-linked loan, making it Japan’s first domestic manufacturing company to take out this type of loan. Sustainability-linked loans are financial products that offer advantages such as preferential interest rates to incentivize the achievement of sustainability goals. They are also characterized by having less restrictions on use of...

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Toyo Tires, Nitto Booths to Go up at Tokyo Auto Salon 2020

Toyo Tire Corp. (TYO:5105) will be setting up both a Toyo Tires booth and a Nitto booth at Tokyo Auto Salon 2020. One of the world’s largest custom car shows, this year’s Tokyo Auto Salon will be held over Jan. 10–12 at Makuhari Messe in Chiba, Chiba Prefecture. The Toyo Tires-branded booth will be depicting the company’s new brand statement,...

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JATMA: Domestic Demand for Automotive Tires to Fall 1% in 2020

The Japan Automobile Tyre Manufacturers Association (JATMA) has put together a forecast of domestic automotive tire demand in Japan for 2020. According to this forecast, major product categories are expected to show lower demand across the board compared to 2019, with total demand for the year falling 1 percent to just under 116.27 million tires. For OE tires, JATMA is...

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Habasit Acquires and Integrates Two South Korean Belt Companies

Swiss-based plastic belt manufacturer Habasit AG announced on Dec. 5 that it has acquired all stocks in Namil Belt Industrial Co. Ltd. (NBI) and Korea Belt Services (KBI), turning these two South Korean belt companies into wholly owned subsidiaries. By then integrating these two companies, Habasit aims to bolster its supply of high-quality, customized solutions to customers throughout South Korea....

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Japan’s Rubber Hose Production Expected to Fall for Second Consecutive Year in 2020

The Japan Rubber Hose Manufacturers Association has published a forecast pointing to a decline in Japan’s rubber hose market over 2019–2020. Released on Nov. 26, the forecast estimates that while Japan’s high-pressure hose production is set to rise for 2020, the market for automotive hoses looks likely to fall, causing the country’s overall production of rubber hoses to drop for...

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Toyo Tires Agrees to Sell Half Its Stock Holdings in Bridgestone

Toyo Tire Corp. (TYO:5105) announced on Nov. 28 that it intends to sell off half of the stock that it holds in Bridgestone Corp. (TYO:5108), a company with which Toyo Tires has business and capital partnerships. Back in 2008, the two companies formed a capital partnership to help establish a strong relationship of trust. And now, Toyo Tires says, this...

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