The outlook for the business environment surrounding Bridgestone Corp. (TYO:5108) over fiscal 2016 indicates no turnaround in demand in the second half of the year. In addition to a continued decrease in North American production of truck and business tires, Bridgestone’s mining company customers, who purchase tires for mining and construction-purpose vehicle tires, are prolonging their inventory adjustment periods. Company...
Led by China, growth in emerging markets will continue to slow down, said Takashi Shimizu, president of Toyo Tire & Rubber Co. Ltd. (TYO:5105). Further, a drastic rise in yen will have a major impact on profit, which will also affect the company’s robust North American market, he said, analyzing the current business environment. As a result, the tire maker...
Tigers Polymer Corp. (TYO:4231), a manufacturer of automotive intake system parts and synthetic resin hoses, recorded an increase in sales volume as well as in operating and pretax profits for the first quarter of fiscal 2016. Quarterly net profit, however, was slightly down after factoring in the nonrecurring expense of losses from the sale of fixed assets. Breaking down the...
Nishikawa Rubber Co. Ltd. (TYO:5161) recorded significant increases in operating and pretax profits for the first quarter of fiscal 2016, despite sales being flat. With regards to quarterly net profit for the same April–June period, the company allocated reserves for the loss that it took on an antitrust law matter, the nonrecurring expense leading to a posted loss of 11.995...
Kinugawa Rubber Industrial Co. Ltd. (TYO:5196) posted first quarter sales of 18.941 billion yen ($1.89 billion), marking a year-on-year decline of 2.2 percent. Operating profit for the same April–June period was similarly down, sitting at 1.774 billion yen after a 4.9 percent decrease. Meanwhile, pretax profit and quarterly net profit felt the brunt of exchange-rate losses. Pretax profit dropped 33.4...
A major manufacturer of silicone products for the electronics and information industries, Shin-Etsu Polymer Co. Ltd. (TYO:7970), posted first quarter sales of 17.937 billion yen ($1.79 billion), representing a year-on-year decline of 1.1 percent. Meanwhile, operating profit for the same April–June period increased 118.5 percent, rising to 1.645 billion yen; pretax profit rose 3.9 percent, hitting 1.196 billion yen; and...
