Industry

Toyo Tires Strikes Capital Partnership With Mitsubishi to Bolster Technological, Sales Efforts

Toyo Tire & Rubber Co. Ltd. (TYO:5105) has agreed to enter into a new capital partnership with Mitsubishi Corp. As part of this, Mitsubishi will be issued new Toyo Tires shares through a third-party allotment, bringing its current 3.05 percent stake in the company up to 20 percent and making it the top shareholder. Mitsubishi will achieve this by investing...

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China Forges Ahead With Reclaimed Rubber Production to Compensate for Natural Rubber Shortage

China is the world’s largest producer of both reclaimed rubber and rubber powder, controlling production for 73 percent of the world’s reclaimed rubber. Currently suffering from a shortage of natural rubber for raw material purposes, the country is looking to save on its natural rubber consumption – and this is then driving efforts to convert waste tires into reclaimed rubber....

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Carbon Black Association Points to International Competition at 70th Anniversary Event

Japan’s Carbon Black Association held its 21st annual convention on Oct. 9, commemorating the association’s 70th anniversary since its 1948 establishment and providing discussion on issues in the industry. Speaking at the event, Hajime Nagasaka – head of the Carbon Black Association and President at Tokai Carbon Co. Ltd. (TYO:5301) – commented on the competitive environment currently facing the industry...

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Price Hikes Set for Synthetic Rubber, Carbon Black and More

Synthetic rubber, carbon black and a range of other raw materials have entered into a major period of price rises. This comes as price spikes for crude oil and naphtha – as well as the rising costs of distribution – place increasing pressure on companies in the industry. In synthetic rubber, industry leader JSR Corp. (TYO:4185) has announced that it...

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Tokyo Commodity Exchange Lists TSR20 Futures Market

The Tokyo Commodity Exchange Inc. (Tocom) on Oct. 9 listed futures contracts for technically specified rubber 20 (TSR20), expanding its operations in the rubber market. For contracts lasting until April, TSR20 prices per kilogram opened at 163.5 yen ($1.46) for the day before closing at 160 yen, with a high of 163.5 yen and a low of 159.8 yen. Trading...

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Toyoda Gosei Settles for $59M in US Class Action Lawsuit

Toyoda Gosei Co. Ltd. (TYO:7282) recently announced that it has agreed to settle a class action lawsuit brought against the company by auto dealers and end consumers in the U.S. District Court for the Eastern District of Michigan. Toyoda Gosei will be required to pay $59 million for the settlement. Plaintiffs in the lawsuit alleged that Toyoda Gosei violated U.S....

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