Shin-Etsu Polymer Co. Ltd. (TYO:7970) has revealed decreased sales and a mixed bag of profit metrics in its business results for fiscal 2019. The chemical manufacturer posted sales revenue of 80.25 billion yen ($746.98 million), down by 6.1 percent year-on-year; operating profit of 7.76 billion yen, down by 4.9 percent; ordinary profit of slightly less than 8.1 billion yen, up...
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...
Japan’s production of rubber belts has fallen 7 percent year-on-year to end at 24,575 tons for 2019, according to figures from the Japan Belting Manufacturers Association. Making up a large proportion of overall rubber belt production, that for conveyor belts fell 8 percent year-on-year to 13,633 tons. While domestic demand for such belts was strong enough to outshine 2018 figures...
Shin-Etsu Polymer Co. Ltd. (TYO:7970) has taken a hit to its sales and profit performance over the first three quarters of fiscal 2019. Business results recently released by the company show that its sales fell 6.9 percent year-on-year for the period, totaling 60.72 billion yen ($556.72 million) for the first three quarters. Operating profit was down 9.2 percent to 5.84...
The Japan Rubber Hose Manufacturers Association has published a forecast pointing to a decline in Japan’s rubber hose market over 2019–2020. Released on Nov. 26, the forecast estimates that while Japan’s high-pressure hose production is set to rise for 2020, the market for automotive hoses looks likely to fall, causing the country’s overall production of rubber hoses to drop for...
Mitsuboshi Belting Ltd. (TYO:5192) recently posted its business results for the first half of fiscal 2019, revealing increased sales and decreased profits. The company’s sales rose 1.2 percent year-on-year to 37.2 billion yen ($340.04 million), with operating profit down 6.8 percent to 4.4 billion yen, ordinary profit down 17.6 percent to 4.33 billion yen and net profit down 13.2 percent...
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