As of Jan. 1, 2016, Sumitomo Rubber Industries Ltd. will absorb its consolidated subsidiary Dunlop Goodyear Tires Ltd., which serves the original equipment market with tires and other products. The move will focus Sumitomo Rubber’s resources for more effective management and operations....
Denka Company Limited completed it acquisition of the chloroprene rubber (CR) business of E.I. Dupont de Nemours and Company (Dupont) on Oct. 31, 2015. In December 2014, the companies announced that Dupont would sell its CR business to Denka Performance Elastomer (DPE; capital: $62 million), a joint venture between Mitsui & Co. Ltd. and Denka, for between 10 and 14...
Ube Industries Ltd. recorded increased sales and profit for the first six months (April-Sept.) of fiscal 2015. Sales were up 5 percent year-on-year to 323.3 billion yen ($2.62 billion), operating income was up 230 percent to 20.5 billion yen ($166.4 million), and ordinary income was up 303 percent to 19.7 billion yen ($159.9 million). Profit attributable to owners of parent...
Yokohama Rubber Co. Ltd. recently held a groundbreaking ceremony for new buildings at its Nagano Toyooka Plant (Nagano Prefecture) as the company consolidates its Nagano production facilities with the aim of strengthening its hoses and couplings business. Construction is set for completion in November 2016, after which equipment will be moved from the current Nagano Takamori Plant to Toyooka. Consolidation...
Bridgestone Retail Operations LLC (BSRO), a wholly owned subsidiary of Bridgestone Corp., will acquire The Pep Boys – Manny, Moe & Jack, one of America’s leading automotive aftermarket chains, in an all-cash transaction, purchasing all outstanding shares at approximately $835 million in aggregate equity value. Bridgestone’s biggest acquisition to date was the $2.6 billion purchase in 1988 of The Firestone...
Japan’s domestic automobile production dropped in September according to the Japan Automobile Manufacturers’ Association (JAMA). The number of cars (4-wheelers) produced was approximately 830,000, down 3 percent over September 2014 and marking the 15th consecutive month that the figure had fallen year-on-year. The number of all vehicle types produced fell year-on-year. Passenger car production was just over 700,000 units, down 2...
