Dow Chemical Co.’s (TYO:4850) Japanese subsidiary, Dow Chemical Japan, recently showcased to media members the company’s products used to help provide solutions at the Rio Olympics. Under the banner of using science to make the Rio 2016 Games a success, those solutions include curtailing and counter-balancing the carbon (CO2) footprint of the event. At the Rio Games, Dow Chemical’s Dowlex...
Yokohama Rubber Co. Ltd. (TYO:5101) has revised its projections of full-year earnings for 2016, CEO Hikomitsu Noji recently revealed. Noji pointed to an appreciating yen relative to when the previous public projection was made and to a dip below the previous projection for tire sales, namely in Russia and the Americas. Additionally, Noji said that demand has been sluggish with...
Sumitomo Rubber Industries Ltd. (TYO:5110) has cut its full year earnings projections. According to President Ikuji Ikeda, the downward revision from the earnings projections announced in May 2016 can be attributed to the sharp appreciation of the yen. Full year sales are projected to drop 4.6 percent year-on-year to 810 billion yen ($8.09 billion), while operating profits are expected to...
The outlook for the business environment surrounding Bridgestone Corp. (TYO:5108) over fiscal 2016 indicates no turnaround in demand in the second half of the year. In addition to a continued decrease in North American production of truck and business tires, Bridgestone’s mining company customers, who purchase tires for mining and construction-purpose vehicle tires, are prolonging their inventory adjustment periods. Company...
Led by China, growth in emerging markets will continue to slow down, said Takashi Shimizu, president of Toyo Tire & Rubber Co. Ltd. (TYO:5105). Further, a drastic rise in yen will have a major impact on profit, which will also affect the company’s robust North American market, he said, analyzing the current business environment. As a result, the tire maker...
Tigers Polymer Corp. (TYO:4231), a manufacturer of automotive intake system parts and synthetic resin hoses, recorded an increase in sales volume as well as in operating and pretax profits for the first quarter of fiscal 2016. Quarterly net profit, however, was slightly down after factoring in the nonrecurring expense of losses from the sale of fixed assets. Breaking down the...
