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JSR to Complete 115B Yen Transfer of Elastomers Business to Eneos in April 2022

Leading synthetic rubber manufacturer JSR Corp. (TYO:4185) has announced plans to transfer its elastomers business to Eneos Corp. Due to be completed on April 1, 2022, the deal here will be based on a valuation of 115 billion yen ($1.05 billion). Commenting on the deal, JSR CEO Eric Johnson acknowledged that elastomers have been a core business for JSR since...

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Companies Face Hurdles in Efforts to Bring Employees Back from COVID-Stricken India

A number of Japanese companies are looking to bring stationed employees back home from India, where the rate of COVID-19 infection has surged of late. Zeon Corp. (TYO:4205) has already finished bringing back employees from local subsidiary Tokyo Zairyo Co. Ltd., while the likes of Yokohama Rubber Co. Ltd. (TYO:5101) and Sumitomo Rubber Industries Ltd. (TYO:5110) too are moving to...

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Bridgestone Plants Receive Top Rating from Caterpillar’s Supplier Rating Program

Bridgestone Corp. (TYO:5108) and the Bridgestone Group have had seven plants receive a Platinum Level rating under Caterpillar Inc.’s Supplier Quality Excellence Process (SQEP) for 2020. This is the highest supplier rating provided by the U.S.-based manufacturer of construction and mining equipment. Four of the seven Bridgestone plants to receive this rating manufacture tires for construction equipment, including the Santo...

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Zeon Posts Sales Decline for Elastomer Business in FY2020 Results

Zeon Corp. (TYO:4205) has posted its business results for fiscal 2020, revealing sales revenue of 301.96 billion yen ($2.77 billion), down 6.2 percent year on year, and an operating income of 33.41 billion yen, up 28 percent. Speaking at the results briefing, company director Kazuyoshi Matsuura said that with customer industries having made a recovery in recent months, the January–April...

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Yokohama Rubber Lines up Hamatite Business Transfer to Sika Group

Yokohama Rubber Co. Ltd. (TYO:5101) recently announced that it will transfer the company’s Hamatite business to Sika AG, a Swiss-based specialty chemicals company. The transfer is scheduled to take place on Nov. 1, with the cost of the acquisition still under discussion. Included in the transfer are the Hamatite businesses operated by Yokohama Rubber, with these being Yokohama Industrial Products...

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Toyoda Gosei Projects Revenue Growth for 2021 Following Mixed Bag of Results for 2020

Toyoda Gosei Co. Ltd. (TYO:7282) has reported its business results for fiscal 2020 and announced its projections for fiscal 2021. The company’s results for last fiscal year saw sales revenue fall 11.2 percent year-on-year to 721.5 billion yen ($6.61 billion), while operating profit rose 103.9 percent to 36.48 billion yen and net profit rose 213.6 percent to 35.21 billion yen....

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