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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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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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 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 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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Sumitomo Rubber Industries Ltd. (TYO:5110) has made a revision to its earnings forecast for calendar 2019, driven in large part by the company factoring in expenses of 18.2 billion yen ($165.74 million) in impairment losses. These impairment losses relate both to fixed assets as well as to goodwill, which represents the discrepancy between fair market value and purchase price in...
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