Sumitomo Riko’s first half (April-September 2023) results (IFRS) showed net sales of 297.88 billion yen ($1.98 billion), up 16.5% year-on-year; operating income of 12.78 billion yen, compared with a loss of 894 million yen in the same period of the previous year; and net income of 5.83 billion yen, compared with a loss of 4.79 billion yen. By business segment,...
Japanese automotive rubber parts suppliers in China continue to struggle. This is due to the decline in sales of electric vehicles (EVs) in China, where Japanese automakers are lagging behind their competitors. Japanese automotive rubber parts suppliers, which entered the Chinese market in the 2000s in response to Japanese automakers, are now facing a turning point. In China, the world’s...
Zeon reported a 5.8% year-on-year decline in net sales to 91.9 billion yen ($648.9 million), a 43.0% drop in operating income to 6.1 billion yen, a 35.8% drop in ordinary income to 8.3 billion yen, and a 33.0% drop in net income to 5.8 billion yen for the first quarter of the year ending March 2024. In the elastomer materials...
According to the Feb. 14 report on rubber product production and shipments published by the Ministry of Economy, Trade and Industry (METI), the total value of rubber product shipments in 2022 (January-December) was 2.3 trillion yen ($22.72 billion), up 5.1% from the previous year, marking the second consecutive year of year-on-year growth. By product category, the value of rubber products...
The Carbon Black Association of Japan recently compiled a forecast for carbon black demand in 2023, which is expected to be 727,250 tons, up 3.4% from the previous year. This is based on economy showing signs of improvement, such as a recovery in consumer behavior, a resurgence in capital investment, and an increase in exports, as the coronavirus pandemic has...
During a recent update, Nitta’s president Yasunori Ishikiriyama said that the first phase of the company’s medium- to long-term management plan “Shift2030” may need to be reviewed depending on demand in certain industries. The review process is slated to start while taking into account the progress of EV conversion. In addition, Nitta will further promote globalization by business division and...
