Market Background

Toyo Tires Forecasts Revenue and Profit Growth for 2021 on Back of 8.6% Sales Increase in Tires Business

Toyo Tire Corp. (TYO:5105) has released its business forecast for calendar 2021, indicating a recovery for the year. The company is projecting 372 billion yen ($3.49 billion) in sales revenue, up 8.2 percent year-on-year; 44 billion yen in operating income, up 21.1 percent; 42.7 billion yen in ordinary income, up 38.2 percent; and 26.4 billion yen in net income, up...

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Yokohama Rubber Expects to Grow Revenue, Profits for 2021 on Back of Strong Tire Sales

Yokohama Rubber Co. Ltd. (TYO:5101) has released its results forecast for calendar 2021. The company expects to generate 620 billion yen ($5.83 billion) in sales revenue for the year, up 8.7 percent year-on-year; 50 billion yen in business profit, up 35.9 percent; and net profit of 34.5 billion yen, up 31.1 percent. Looking at the upward and downward factors on...

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JRW Report: Rubber and Resin Conveyor Belts See Spotty Demand Amid Coronavirus

Demand for rubber and resin conveyor belts remains spotty as the industry is impacted by the wide division of peaks and valleys it faces. Since the spread of COVID-19, demand for rubber and resin parts has declined for many applications, as is the case with other rubber and resin products. On the other hand, there are also applications for which...

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Showa Denko Sees Decline in Chloroprene Rubber Sales for First Quarter

Showa Denko KK (TYO:4004) recently released its business results for the first quarter of calendar 2020, revealing a decline in both sales and profit metrics. The company posted sales of 171.73 billion yen ($1.6 billion), down 26.8 percent from the same period last year; operating income of just under 2.47 billion yen, down by 94.6 percent; and ordinary income of...

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Shin-Etsu Polymer Posts Sales Drop for FY2019 Despite Silicone Rubber Molding Products Finding Solid Foothold

Shin-Etsu Polymer Co. Ltd. (TYO:7970) has revealed decreased sales and a mixed bag of profit metrics in its business results for fiscal 2019. The chemical manufacturer posted sales revenue of 80.25 billion yen ($746.98 million), down by 6.1 percent year-on-year; operating profit of 7.76 billion yen, down by 4.9 percent; ordinary profit of slightly less than 8.1 billion yen, up...

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Sumitomo Rubber Calculates 18.2B Yen Impairment Loss for 2019, Lowers Profit Projections

Sumitomo Rubber Industries Ltd. (TYO:5110) has made a revision to its earnings forecast for calendar 2019, driven in large part by the company factoring in expenses of 18.2 billion yen ($165.74 million) in impairment losses. These impairment losses relate both to fixed assets as well as to goodwill, which represents the discrepancy between fair market value and purchase price in...

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