Yokohama Rubber Co. Ltd. (TYO:5101) recently posted its business results for calendar 2019. While the company’s tire division struggled for the year, overall sales revenue was up marginally year-on-year to 650.46 billion yen ($5.85 billion), with business profit down 15.4 percent to 50.13 billion yen and net profit up 17.8 percent to 41.97 billion yen. This marks a new record...
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Sumitomo Rubber Targets 1T Yen Sales Revenue for 2025 in New Medium-Term Plan
Sumitomo Rubber Industries Ltd. (TYO:5110) President Satoru Yamamoto has revealed a new medium-term management plan set to run through to fiscal 2025. The plan’s goals for that final year are to achieve 1 trillion yen ($9.1 billion) in sales revenue, 100 billion yen in business profit, a return on equity of at least 10 percent and a debt-to-equity ratio of...
Coronavirus Outbreak Raises Major Concerns Over Supply of Raw Materials From China
With the spread of the novel coronavirus showing no signs of letting up, companies in the rubber sector are seeing increasingly serious effects on business. Problems are piling up with regard to securing employees, carrying out logistics, operating supply chains and more. Issues on the production side of business have spread to regions outside of China, including Japan. And with...
Denka Subsidiary Moves to Develop Coronavirus Test Kit
Chemical manufacturer Denka Co. Ltd. (TYO:4061) announced on Feb. 13 that consolidated subsidiary Denka Seiken Co. Ltd. has started development of a diagnostic test kit for China’s novel coronavirus. Making use of the immunochromatography method for coronavirus antigens, the kit can be used quickly and simply even at general medical facilities. Since its establishment in 1950, Denka Seiken has been...
Fuji Latex Posts Decline to Sales, Profits Despite Strong Performance for New Condom Line
Fuji Latex Co. Ltd. (TYO:5199) recently posted its business results for April–December 2019, showing a drop in both sales and profits. The company’s sales for the three quarters came to 5.42 billion yen ($49.34 million) for a 14.1 percent year-on-year drop, while operating profit was down 95.6 percent to 22 million yen, ordinary profit was down 94.3 percent to 27...
Yokohama Rubber Adds New Course to Winter Tire Test Center in Hokkaido
Yokohama Rubber Co. Ltd. (TYO:5101) is continuing to expand facilities at its Tire Test Center of Hokkaido (TTCH), a winter tire testing base located in the city of Asahikawa. This January, the company established a new handling course at the location with aims of putting this to use in evaluating tires for the domestic and European markets. Covered with compacted...
