sumitomo riko

For 70th Anniversary, Fukoku Bussan Eyes Foray Into ASEAN: CEO

With Fukoku Bussan Co. Ltd. approaching the 70th anniversary of its founding this coming May, CEO and President Yoshie Kibe spoke recently on the rubber industrial product trading company’s aspirations moving forward. The last few decades has seen the company develop joint venture factories and sales offices in China, Indonesia and Thailand, Kibe said. Looking forward, she said, the company...

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In Bid to Propel Global Business, Sumitomo Riko Opens New Sales HQ in Germany

Sumitomo Riko Co. Ltd. (TYO:5191) is establishing a new sales head office in Germany, as the company drives forward with its efforts to grow sales overseas. Set to be launched on Feb. 2, the new office will serve as the company’s second global automotive sales headquarters. With this move, Sumitomo Riko’s original sales head office will serve as the first...

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Sumitomo Riko to Invest in US If NAFTA Collapses: CEO Nishimura

Sumitomo Riko Co. Ltd. (TYO:5191) will need to boost production in the U.S. if renegotiation of the North American Free Trade Agreement (NAFTA) following President Trump’s inauguration results in high tariffs, said Chairman and CEO Yoshiaki Nishimura. Speaking at a recent media gathering, Nishimura stated that the company will monitor developments involving NAFTA, tailoring investment and employment plans accordingly and...

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Sumitomo Riko to Launch Flexographic Printing Plate Production in Italy

Sumitomo Riko Co. Ltd. (TYO:5191) has announced plans to establish a flexographic printing plate production site in Italy. The investment of 5 million euros ($5.22 million) in Turin province is part of the company’s efforts to develop the European market. With operations scheduled to start from beginning of 2018, the project is expected to contribute to achieve 14 million euros...

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Sumitomo Riko’s Operating Profit up in First Half on Overseas Sales, Restructuring

Sumitomo Riko Co. Ltd. (TYO:5191) has reported that sales for the second quarter of the fiscal year ending March 2017 declined due to a negative impact of currency exchange rates caused by a strong yen. However, operating profit rose on the back of a sales volume increase mainly in North America, China and other Asian countries, positive effects of restructuring...

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Japanese Rubber Companies Heavily Revise Earnings Projections

As companies are releasing their second-quarter earnings for the business year ending on March 31, 2017, some stand out for their revisions to projected full-year earnings. Cost-cutting boosted profits for some, while the higher yen hurt others. The following companies announced upward revisions to profit for the period: Achilles Corp. (TYO:5142), Okamoto Industries Inc. (TYO:5122), Mitsuboshi Belting Ltd. (TYO:5192), Tigers...

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