Denka Co. Ltd. (TYO:4061) recently announced that it has downwardly revised its projected business results for fiscal 2019. Explaining its decision here, Denka noted first that it has seen sluggish sales trends for chloroprene rubber (CR) amid the U.S.–China trade war. The chemical company has also looked to account for the novel coronavirus to some extent, expecting that this will...
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Japan’s four major tire manufacturers – Bridgestone Corp. (TYO:5108), Sumitomo Rubber Industries Ltd. (TYO:5110), Yokohama Rubber Co. Ltd. (TYO:5101) and Toyo Tires Corp. (TYO:5105) – are all forecasting improvements at the operating profit level for calendar 2020. Bridgestone is using adjusted operating profit here, while Sumitomo Rubber and Yokohama Rubber use business profit. However, with Bridgestone noting that it is...
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Toyo Tires Corp. (TYO:5105) is gradually reducing the operating losses of its auto parts business. While the company’s forecasts for calendar 2020 point to this business – which is focused on anti-vibration rubber – as posting another operating loss, the specific loss here is set to more than halve compared to 2018, when the company first changed the auto parts...
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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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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...
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Sumitomo Rubber Industries Ltd. (TYO:5110) has made a revision to its earnings forecast for calendar 2019, driven in large part by the company factoring in expenses of 18.2 billion yen ($165.74 million) in impairment losses. These impairment losses relate both to fixed assets as well as to goodwill, which represents the discrepancy between fair market value and purchase price in...
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