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Annual Rubber Industry Accounts for FY2020 Show Second-Half Recovery on Automotive Rebound

on May 25, 2021 in Industry

Rubber industry earnings reports for the fiscal year through March 2021 show a second-half recovery from nearly across-the-board first-half negative revenue and profit performance due to the economic impact of the COVID-19 pandemic that struck early in 2020. The second-half turnaround reflected a worldwide economic recovery, powered in large part by strong performance in the Chinese and U.S. automotive industries....

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Evonik Develops Highly Dispersible Silica for Wide-Ranging Use

on May 24, 2021 in Materials

Evonik Industries AG recently announced Ultrasil 4000 GR, a silica with high dispersibility and low specific surface area to allow for an extremely high silica fill ratio in tire treads. Compared to using conventional silica, Ultrasil 4000 GR vastly improves traction for winter tires on snowy and slushy roads. Ultrasil’s grades also have uses beyond tire treads and sidewalls, including...

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Sumitomo Riko Sees Profits Decline for FY2020 Despite Strong Performance From High-Pressure Hoses

on May 21, 2021 in Products

Sumitomo Riko Co. Ltd. (TYO:5191) recently posted its business results for fiscal 2020. The company revealed 397.94 billion yen ($3.66 billion) in sales revenue, down 10.6 percent year-on-year; 7.86 billion yen in business profit, down 30.6 percent; and a net loss of 4.96 billion yen, down from a net profit of 881 million yen in fiscal 2019. While sales for...

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Mitsui Chemicals Reports Mixed Bag of Results for 2020; Anticipates Surge in Chinese EPDM Sales

on May 20, 2021 in Materials

Mitsui Chemicals Inc. (TYO:4183) has posted its results for fiscal 2020. The company recorded 1.21 trillion yen ($11.09 billion) in sales revenue for the year, down 10.2 percent year-on-year; 85.14 billion yen in core operating income, up 17.7 percent; and 57.87 billion yen in net income, up 70.4 percent. This marks a new record high for the company’s core operating...

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Tokai Carbon Looks to Boost Carbon Black Profitability With New Management Plan

on May 19, 2021 in Materials

Tokai Carbon Co. Ltd. (TYO:5301) President Hajime Nagasaka has unveiled T-2023, the company’s new three-year medium-term management plan. The company aims to end the plan in fiscal 2023 with record-high sales revenue of 320 billion yen ($2.94 billion), as well as operating income of 57 billion yen, an ROS figure of 18 percent and an EBITDA of 86 billion yen....

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Toyoda Gosei Posts Revenue Decline, Profit Increase for Fiscal 2020

on May 18, 2021 in Materials

Toyoda Gosei Co. Ltd. (TYO:7282) posted IFRS-based 721.5 billion yen ($6.61 billion) in sales revenue for the fiscal year ending March 2021, marking an 11.2 percent drop from the previous fiscal year. Operating income was 36.48 billion yen, up 103.9 percent annually, while net profit was 35.21 billion yen, up 213.6 percent. While sales increased as major customers in China...

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