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...
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Sumitomo Rubber Industries Ltd. (TYO:5110) plans to surpass its sales goals for 2018, said President and CEO Ikuji Ikeda in a recent interview with Japan Rubber Weekly. The company, he said, is looking to turn around its business ahead of 2020, the company’s Vision 2020 target year. Ikeda said that the automotive industry, to which Sumitomo Rubber is deeply connected,...
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Sumitomo Rubber Industries Ltd. (TYO:5110) is accelerating its development of specialized tires for electric vehicles (EVs) in anticipation of further vehicle electrification. Although the company already supplies tires for EVs, the inclusion of batteries makes EVs heavier than vehicles with internal combustion engines, leading to demand for more durable tires. Sumitomo Rubber President Ikuji Ikeda said that by further improving...
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Sumitomo Rubber Industries Ltd. (TYO:5110) will increase its U.S. production capacity of passenger car and light truck tires from currently 5,000 tires to 10,000 per day by the end of 2019, said President and CEO Ikuji Ikeda during a recent interview with Japan Rubber Weekly. He added that this move aims at expanding sales of high value-added tires in the...
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Sumitomo Rubber Industries Ltd. (TYO:5110) is proceeding with revamping its North American plants and bringing in new equipment for use with current production, said President & CEO Ikuji Ikeda at a press conference last week. He added that, with a view to the future, the company will also adopt new production technology to increase production capacity for high-performance tires. Increasing...
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Sumitomo Rubber (Thailand) Co. Ltd. (SRT), a tire manufacturing and marketing subsidiary of Sumitomo Rubber Industries Ltd. (TYO: 5110), held a ceremony recently to mark 10 years in operation. In addition to holding a Buddhist ceremony within the factory, SRT held a ceremonial party, playing host to a guest list of 300 people, including the local governor and members from...
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