Nitta Corp. (TYO:5186) subsidiary Nitta Corporation of America (NCA) has conducted a ceremony, believed under the indigenous Japanese Shinto religion to purify land, at the expanded construction site where its second factory is to be built. Operating mainly in North and South America, NCA is building the new factory facilities to reinforce its production and processing efforts as its regional...
In January 2016, the shipment value of rubber products in Japan fell by 6 percent to 160 billion yen ($1.41 billion), the seventh consecutive month of year-on-year decreases, according to Japan’s Ministry of Economy, Trade and Industry (METI). Automobile tire production was down 67 percent to 10.72 million tires, the 14th consecutive month of year-on-year decreases. Meanwhile, the value of...
Hiroshima Kasei Ltd. is moving ahead with the construction of a factory to make vehicle seals in Bandung, Indonesia. The decision is in response to Japanese vehicle manufacturers operating plants outside Japan. The venture in Indonesia will be the first time the company will directly manufacture vehicle seals outside Japan. The company has until now indirectly supplied vehicle manufacturing plants...
Kinugawa Rubber Industrial Co. Ltd. (TYO:5196) will accept a takeover bid (TOB) from the Development Bank of Japan, Inc. (DBJ). For this deal, the DBJ has concluded separate agreements with Kinugawa Rubber Industrial’s largest shareholder, Nissan Motor Co. Ltd. (TYO:7201; stake of 20.25 percent), and second largest shareholder, Toyo Tire & Rubber Co. Ltd. (TYO:5105; stake of 11.89 percent), to...
Yokohama Rubber Co. Ltd. (TYO:5101) has a policy with its conveyor belt business to focus on the steel sector in Japan while focusing on resource development sectors in overseas markets. In the last few years, the company has been actively developing new conveyor belt products, including the popular High-Heat Resistant MJ Fabric Belt that it developed last year. The use...
Nitta Corp. (TYO:5186) held ceremonies on March 18 at its head office in Osaka and plant in Nara to celebrate 131 years in business, followed by awards for its long-service employees. In his ceremony speech, President and Representative Director Motonobu Nitta said that the company has survived through the generations by responding to whatever challenges have come its way and...
