sumitomo rubber

Japan’s Major Tire Manufacturers Halt Employee Initiation Ceremonies Amid Coronavirus Concerns

Responding to the continued spread of the novel coronavirus, major tire manufacturers in Japan have decided to call off or postpone initiation ceremonies for new employees. Bridgestone Corp. (TYO:5108) is among this list, having decided to postpone its ceremonial activities. Meanwhile, Sumitomo Rubber Industries Ltd. (TYO:5110) has decided that rather than hold its usual activities for new employees, it will...

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Coronavirus Looks Set to Impact European Operations of Japanese Rubber Companies

The outbreak of the novel coronavirus has now spread to the point where it is impacting Japanese rubber companies with operations in Europe. Bridgestone Corp. (TYO:5108) has halted operations at two of its European plants as of 3:00 p.m. Thursday, March 19, Japan Standard Time. The decision includes a truck and bus tire plant in Bilbao, Spain, as well as...

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METI Highlights Sumitomo Rubber for Program Promoting Companies With Excellent Health Management

Sumitomo Rubber Industries Ltd. (TYO:5110) has been chosen as part of the 2020 Health and Productivity Stock Selection Program, marking the first time for Sumitomo Rubber to be included in the program. Positions in the program were awarded to companies for having health care regulations that stipulate rules and risk levels around various health diagnoses, as well as for engaging...

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Japanese Tire Manufacturers Struggle to Predict How Coronavirus Will Impact 2020 Business Results

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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Falken Tyre Europe Starts Supply of OE Tires for New Car Under Audi A1 Series

Falken Tyre Europe GmbH, a European sales subsidiary of Sumitomo Rubber Industries Ltd. (TYO:5110), has started to supply the Falken Azenis FK510A as an OE tire for the new Audi A1 Citycarver. The Azenis FK510A is notable for having excellent high-speed stability on both dry and wet surfaces. Such qualities have led the tire to meet with strong reviews all-round,...

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Sumitomo Rubber Targets 1T Yen Sales Revenue for 2025 in New Medium-Term Plan

Sumitomo Rubber Industries Ltd. (TYO:5110) President Satoru Yamamoto has revealed a new medium-term management plan set to run through to fiscal 2025. The plan’s goals for that final year are to achieve 1 trillion yen ($9.1 billion) in sales revenue, 100 billion yen in business profit, a return on equity of at least 10 percent and a debt-to-equity ratio of...

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