Automotive rubber parts maker Fukoku posted sales of 42.95 billion yen ($291.76 million), up 10.2% year-on-year, operating profit of 1.06 billion yen, up 29.6%, recurring profit of 1.39 billion yen, down 23.2%, and net profit of 1.047 billion yen, down 28.7% in the first half (April-September) of the fiscal year ending March 2024). Sales were affected by the economic slowdown...
Mitsuboshi Belting’s results for the first half (April-September 2023) of the fiscal year ending March 2024 showed an increase in sales of its mainstay automotive belts, but a decline in sales and profits from general industrial and OA equipment use. With the company raising product prices in 2021 and 2022, it said that this led to a buildup of market...
Sumitomo Rubber will open a new research base, the Sumitomo Rubber Innovation Base Sendai, in Sendai City, Miyagi Prefecture, as a base for utilizing Nanoterrace, a next-generation synchrotron radiation facility that will start operation in 2024. The number of researchers will be increased in the future. The company wants the center to become a hub for innovation in academia and...
Chloroprene rubber (CR) sales volume and prices are likely to bottom out in the second half of fiscal 2023 (October-March 2024). This comes with demand for CR currently being sluggish due to weak demand for industrial goods and adhesive applications, as well as inventory adjustment in automotive applications, where demand has been recovering. Supply chain inventories have built up significantly...
Toyo Tires will support the Freeride World Tour (FWT) Japan Series, an international freeride skiing and snowboarding competition to be held from January to February 2024, as the title sponsor of the “2024 Toyo Tires FWT Japan Series”. Freeride skiing and snowboarding is a winter extreme sport in which skiers compete in their technique and style by freely skiing down...
Rubber products maker Achilles posted sales of 38.18 billion yen ($258.94 million) in the first half of the fiscal year ending March 2024 (April-September 2023), down 6.4% year-on-year. The company posted an operating loss came of 519 million yen (vs. a loss of 102 million yen in the same period last year), an ordinary loss of 45 million yen (vs....
