Sumitomo Riko’s first half (April-September 2023) results (IFRS) showed net sales of 297.88 billion yen ($1.98 billion), up 16.5% year-on-year; operating income of 12.78 billion yen, compared with a loss of 894 million yen in the same period of the previous year; and net income of 5.83 billion yen, compared with a loss of 4.79 billion yen. By business segment,...
financial results
Nishikawa Rubber Sales up 21.5% in First Quarter
Automotive rubber parts maker Nishikawa Rubber reported first quarter (April-June) net sales of 27.39 billion yen ($187.90 million), up 21.5% year-on-year, operating income of 731 million yen (compared to a loss of 379 million yen in the same period last year), ordinary income of 1.74 billion yen, up 286.2%, and net income of 1.33 billion yen, up 426.9%. The company...
Japan’s Four Major Tire Makers Achieve Record First-Half Results
The four major Japanese tire makers have reported their first-half (January-June) results for the fiscal year ending December 31, 2023. All four companies achieved record-high sales, driven by a weak yen and a recovery in sales of tires for new vehicles. Moreover, Bridgestone, Sumitomo Rubber and Toyo Tires secured higher operating income (adjusted operating income for Bridgestone, and operating income...
Okamoto Posts 12.1% Sales Growth in First Quarter
Okamoto reported a 12.1% year-on-year rise in sales to 25.28 billion yen ($172.75 million), a 26.5% rise in operating income to 2.2 billion yen, a 27.7% rise in ordinary income to 3.27 billion yen, and a 68.5% rise in net income to 2.74 billion yen for the first quarter of this fiscal year (April-June 2023). By segment, sales of industrial-use...
Denka Posts Declining Sales and Profits in First Quarter
In the first quarter of the fiscal year ending March 31, 2024 (April-June 2023), chemical and rubber manufacturer Denka’s sales fell 6.9% year-on-year to 87.82 billion yen ($603.63 million), operating income fell 43.0% to 2.79 billion yen, ordinary income fell 53.7% to 2.38 billion yen, and net income fell 47.1% to 2.29 billion yen. By segment, the Elastomers & Infrastructure...
Toyo Tires Revises 2023 Earnings Forecast, Eyes Record Results
Toyo Tires has upwardly revised its full-year forecasts for fiscal 2023. The company expects record-high sales, ordinary income, and net income. President Takashi Shimizu said that the company expects to achieve its operating income target of 60 billion yen ($409.9 million) for 2025 – the final year of its mid-term plan – two years ahead of schedule. According to the...
