Bridgestone’s Chemicals & Diversified Products business achieved higher revenues in the first quarter (January-March) of fiscal 2023. In particular, the chemical products business, whose profitability has steadily been improving, and the diversified business in the Americas (pneumatic springs), which is expected to expand into EVs, are showing positive results. The key is seen to be rubber technology, which the company...
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Mitsubishi Chemical to Launch New Grades of Plant-Based Bioengineering Plastics
Mitsubishi Chemical has in May begun offering samples of the Durabio plant-derived bioengineering plastics D93 Series, a new grade of Durabio with a higher degree of biomass plasticity. Durabio is a bio-based engineering plastic made from isosorbide, a renewable plant-derived raw material that reduces the consumption of petroleum, a depletable resource, and also contributes to the reduction of greenhouse gases...
Sumitomo Riko’s Full Year Sales up 24.2%, Automotive Supplies Strong
In its business results for the fiscal year ended March 31, 2023 (IFRS basis), Sumitomo Riko posted sales of 541.01 billion yen ($3.92 billion), up 21.3% year-on-year; business profit of 17.87 billion yen, up 176.3%; and net income of 6.68 billion yen, compared with a loss of 6.35 billion yen in the previous year. By business segment, sales in the...
Sumitomo Chemical to Withdraw From S-SBR Production in Singapore
Sumitomo Chemical will withdraw from the production of solution-polymerized styrene-butadiene rubber (S-SBR) in Singapore by the middle of 2024 as part of the company’s restructuring process. The S-SBR plant in Singapore started commercial production in 2014. Its production capacity is 40,000 tons per year. Although the company will withdraw from S-SBR production in Singapore, it will continue production at its...
Asahi Kasei Posts 10.8% Growth in Net Sales
Asahi Kasei reported net sales of 2.72 trillion yen ($19.69 billion), up 10.8% from the previous fiscal year, operating income of 128.352 billion yen, down 36.7%, ordinary income of 121.53 billion yen, down 42.7%, and a net loss of 91.31 billion yen (compared to 161.88 billion yen profit). Sales reached a record high. The environmental solutions business, which includes synthetic...
Shin-Etsu Polymer Reports Record High Full Year Sales
Shin-Etsu Polymer reported a 16.9% year-on-year increase in net sales to 108.28 billion yen ($781.54 million), 31.0% increase in operating income to 12.74 billion yen, 28.2% increase in ordinary income to 12.98 billion yen, and a 35.2% increase in net income to 8.52 billion yen for the year ended March 31, 2023. “In the previous fiscal year, silicone wafer production...
