Sumitomo Riko Co. Ltd. (TYO:5191) has revealed major downward trends in its business results for the first quarter of fiscal 2020. The company posted sales revenue of 65.38 billion yen ($620.49 million) for the quarter, down by 43.4 percent; an operating loss of 8.04 billion yen, down from a profit of 2.04 billion yen; and a net loss of 7.38...
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Toyo Tires Sees US Business Propped up by Strong Results for Large-Diameter Tires
Toyo Tire Corp. (TYO:5105) President Takashi Shimizu recently revealed that his company is performing well in the U.S. market, giving insight into the company’s operations here as part of a recent results announcement for the first half of calendar 2020. Commenting on these regional operations, Shimizu said that things are going quite well for Toyo Tires in the U.S., with...
Bridgestone’s First-Half Sales Revenue Drops 22%
Bridgestone Corp. (TYO:5108) announced its business results for the first half of calendar 2020 on Aug. 7, revealing sales revenue of just under 1.36 trillion yen ($12.76 billion) to mark a 22.1 percent year-on-year drop. The company’s adjusted operating profit for the half came to a little below 48.27 billion yen, down by 68.3 percent, and it posted a net...
Shin-Etsu Polymer Posts Declining Results for Q1 as Coronavirus Hits Automotive Industry
Shin-Etsu Polymer Co. Ltd. (TYO:7970) recently posted its business results for the first quarter of fiscal 2020, revealing a drop in both sales revenue and profits. The company ended the quarter with sales of 18.33 billion yen ($171.49 million), down by 5.7 percent year-on-year; operating profit of just under 1.36 billion yen, down by 25.3 percent; ordinary profit of 1.58...
Nitta Launches Automatic Tool Changer With High Payload Capacity, Thin Design
Nitta Corp. (TYO:5186) launched sales on Aug. 1 for the NittaOmega Type XM, an automatic tool changer. In recent years, automakers have shown an increasing need for robots able to transport heavy objects. Improvements to robotic capabilities have meanwhile allowed for faster robotic movement, causing the market to seek out lighter, thinner products to serve as automatic tool changers here....
Survey: Rubber Product Manufacturers Voice Concern and Uncertainty Over Economic Trends
Japan Rubber Weekly recently sent a survey regarding current economic conditions to 156 domestic manufacturers of rubber and plastic products. Responses were received from 102 of these companies, helping to quantify expectations for the industry’s economic outlook. In an earlier survey conducted this January, the major concern was sluggish performance in demand industries on account of the U.S.–China trade war,...
