Nishikawa Rubber Co. Ltd. (TYO:5161), a large manufacturer of rubber parts for the automotive industry, inaugurated Yoshitomo Fukuoka as its new CEO three months ago. Unlike most in the automotive parts industry, Fukuoka’s prior work has been based around shipbuilding, and his switch between these highly divergent industries has drawn attention over recent months. Japan Rubber Weekly recently sat down...
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Major automotive rubber parts manufacturer Nishikawa Rubber Co. Ltd. (TYO:5161) announced on Sept. 14 that it had reached an agreement in principle for a settlement with plaintiffs in a class-action civil lawsuit. The lawsuit, filed at the U.S. District Court for the Eastern District of Michigan, involves the company’s sales of automotive sealing components. Nishikawa Rubber has agreed to pay...
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Nishikawa Rubber Co. Ltd. (TYO:5161) has reported 22.1 billion yen ($200.34 million) in sales, up 2.3 percent year-over-year, and 1.96 billion yen in operating profit, up 9.8 percent, for the first quarter of the fiscal year ending March 2018. Ordinary profit for the quarter increased 34.5 percent to 2.66 billion yen, while net profit was 1.91 billion yen, contrasting a...
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Nishikawa Rubber Co. Ltd. (TYO:5161), a rubber manufacturer of automotive parts such as weatherstrips and seal material, unofficially selected a new president at a board meeting convened on May 12. The company offered the position of president and CEO to Managing Director Yoshitomo Fukuoka, aged 64. The decision will be formalized at a regular shareholder and board meeting scheduled for...
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Nishikawa Rubber Co. Ltd. (TYO:5161) recorded significant increases in operating and pretax profits for the first quarter of fiscal 2016, despite sales being flat. With regards to quarterly net profit for the same April–June period, the company allocated reserves for the loss that it took on an antitrust law matter, the nonrecurring expense leading to a posted loss of 11.995...
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Nishikawa Rubber Co. Ltd. (TYO:5161) announced on July 20 that it has agreed to plead guilty and pay $130 million in fines for infringement of U.S. antitrust law through the company’s sales of automotive sealing parts. Nishikawa Rubber had fully cooperated with the U.S. Department of Justice in its investigation into the company’s automobile sealing products, and has decided to...
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