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Four Japanese Tire Makers Post Record Sales and Profit in First Half

on August 26, 2024 in Industry, Tires

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...

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Nitta to Merge Two Subsidiaries

on August 1, 2024 in Industry

Nitta will merge its wholly owned subsidiary Nitta Air Solutions as the surviving company and Morimitsu, also a wholly owned subsidiary, as the dissolving company, effective October 1. The surviving company, Nitta Air Solutions, was established on November 16, 1960. The company is engaged in sales of air filtration materials and dust collectors, pipe installation, real estate maintenance and management,...

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Sumitomo Rubber Signs Shohei Otani for Dunlop Advertisement

on July 31, 2024 in Industry

Sumitomo Rubber has signed an advertising contract with Shohei Otani for its Dunlop brand. Otani stars in a new brand commercial in which he and Babe Ruth, whom he describes as a baseball icon, appear together in a dream collaboration. The commercial has begun airing nationwide on July 23. In addition, they will appear together in a commercial for the...

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Eneos Materials Advances Development of World’s First Battery Made from Recycled Tires

on July 30, 2024 in Industry, Innovation

Eighteen member companies of the Tire Battery Project, including Eneos Materials, have been developing the world’s first next-generation storage battery, the Tire Battery, which is created by recycling used tires. After 12 years of development and improvement, the companies will now begin demonstration testing of stationary products, namely street lights, equipped with the Tire Battery. The demonstration test will be...

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Yokohama Rubber to Acquire Goodyear OTR Business

on July 29, 2024 in Industry, Tires

Yokohama Rubber will acquire the off-the-road tire (OTR) business for mining and construction vehicles of U.S.-based tire producer and distributor Goodyear. The acquisition is priced at $905 million and will be completed after receiving approval from the relevant authorities. Goodyear’s OTR business had sales of $678 million in fiscal 2023, EBITDA of $129 million, and an EBITDA margin of 19.0%....

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Japanese Rubber Union Urges Promotion of Women

on July 17, 2024 in Industry

Gomu Rengo, the Japanese Rubber Workers’ Union Confederation, held a labor-management round-table conference to exchange lectures and information to promote the advancement of women. The meeting was attended by 57 representatives from labor and management, thereof 33 from the union side and 24 from the management side. In response to the 2007 revision of the Equal Employment Opportunity Law, Gomu...

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