Bridgestone, Sumitomo Rubber, Yokohama Rubber and Toyo Tires have released their nine months (January-September) financial results for fiscal 2024. While some companies achieved record-high performance in the same period, partly due to the effect of yen depreciation, the North American market, which is in a sense a dollar box for Japanese, European, and U.S. tire makers, was affected by the...
Sumitomo Rubber has resolved at a meeting of its board of directors to conclude a share transfer agreement for the transfer of all shares of its consolidated subsidiary, Dunlop Sports Wellness, to Nagase Brothers. The transfer is scheduled to take place in early December 2024. Regarding the share transfer agreement, the company said, “Dunlop Sports Wellness has been striving to...
Sumitomo Rubber began selling its Tire Pressure Monitoring System (TPMS) in July. The company has been offering a tire pressure and temperature management service for trucks using this system at Dunlop’s truck tire dealers since the same month, and is now focusing on developing its tire solution business, which is a key business for the company. At the DTS (Dunlop...
The four Japanese tire makers have released their first half (January-June) results for the fiscal year ending December 31, 2024. Bridgestone, Sumitomo Rubber, Yokohama Rubber and Toyo Tires all posted record-high sales and profits for the period. Although tire sales volume was slightly struggling, the external environment, including raw material prices, yen depreciation, and lower ocean freight rates, in addition...
Sumitomo Rubber posted second quarter (January-June) results for fiscal 2024, showing revenue of 587.04 billion yen ($4.03 billion), up 4.6% year-on-year; operating profit of 42.29 billion yen, up 147.6%; and net income of 38.73 billion yen, up 372.5%. Sales revenue, operating profit, and net income were all record highs for the same period. By business segment, the tire business posted...
Sumitomo Rubber will launch its next-generation all-season tire Synchro Weather on October 1. It is a revolutionary tire that combines the performance of a summer tire and a studless tire, and can be used on dry, wet, icy, snowy, and other road surfaces. The new Active Tread technology, which incorporates two switches, the Water Switch and the Temperature Switch, that...
