Sumitomo Rubber Industries Ltd. (TYO:5110) has announced a downward revision to its forecast of business results for calendar 2018. Compared to the company’s initial forecast, the revision sees sales lowered by 1.1 percent, business profit by 6.8 percent and net profit by 10.4 percent. The main factor behind the revision is Sumitomo Rubber’s tire business, for which both sales and...
Bridgestone Corp. (TYO:5108) has released its business results for the first half of calendar 2018, showing 1.9 percent year-on-year sales growth to total 1.78 trillion yen ($15.98 billion) for the period. Meanwhile, the company’s operating profit fell 1.4 percent to 199.43 billion yen, ordinary profit was down 2.6 percent to 190.76 billion yen, and net profit was up 2.1 percent...
Sumitomo Rubber Industries Ltd. (TYO:5110) announced on Aug. 7 that it has established production facilities for truck and bus tires at its South Africa Factory, beginning production for this on July 19. Having invested approximately 970 million rand ($64.73 million) into the facilities, the company expects that production capacity will get up to 750 truck and bus tires per day...
Nihon Michelin Tire Co. Ltd. recently announced that it will start selling retreads of the Michelin X One, a wide single tire for trucks and buses, starting from October 1. The launch will see the company accelerate its efforts toward cost-cutting and environmental protection in the transportation industry. As a single tire able to replace the dual tires used at...
The Japan Automobile Tyre Manufacturers Association (JATMA) has revised its forecast of tire demand for the business year through next March. Total domestic demand in the updated forecast – covering four-wheel vehicles, two-wheel vehicles and non-four-wheel specialty vehicles – was upwardly revised by 75,000 tires. But with higher figures having been confirmed for 2017 since the previous forecast, this still...
Bridgestone Corp. (TYO:5108) U.S. subsidiary Bridgestone Americas Inc. recently announced plans to increase its production capacity for off-the-road tires. Taking place at a plant in Bloomington, Illinois, this expansion will cost the company $12 million and is slated for completion at some point in 2020. The project will see the plant begin producing 29-inch, 33-inch and 35-inch tires for small-...
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