Toyo Tire Corp. (TYO:5105) and Nitta Corp. (TYO:5186) recently announced that they have agreed to transfer the Toyo Tire Group’s business for truck and bus air springs to the Nitta Group. Plans are for a June 30 transfer of this business, which in fiscal 2018 generated approximately 2 billion yen ($18.2 million) in sales revenue. The companies have not yet...
Industry
Japan’s Rubber Belt Production Falls 7% in 2019 Despite Strong Domestic Demand for Conveyor Belts
Japan’s production of rubber belts has fallen 7 percent year-on-year to end at 24,575 tons for 2019, according to figures from the Japan Belting Manufacturers Association. Making up a large proportion of overall rubber belt production, that for conveyor belts fell 8 percent year-on-year to 13,633 tons. While domestic demand for such belts was strong enough to outshine 2018 figures...
Coronavirus Outbreak Poses Major Issue for Chinese Plant Operations of Japanese Rubber Companies
The novel coronavirus outbreak in Wuhan, Hubei Province, China, is having a major impact on society. This is especially true in China itself, though there is also the possibility that the virus will spread further overseas going forward. Looking then to get a better idea of how all this will impact business, Japan Rubber Weekly collected information from a number...
JRMA Forecasts Slight Drop in New Rubber Consumption for 2020
The Japan Rubber Manufacturers Association (JRMA) recently published a forecast on rubber consumption for 2020 as part of its 19th executive meeting. As its baseline, this forecast estimates Japan’s new rubber consumption as having risen 0.8 percent for 2019, reaching 1,343,700 tons to make for a third consecutive year of growth. But for 2020, the JRMA is estimating that consumption...
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...
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,...
