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...
Production of automobile tires and tire tubes for the first half of 2016 suffered a year-on-year drop of 6.6 percent, to a total of 500,481 tons, according to records compiled by the Japan Automobile Tyre Manufacturers Association (JATMA). Apart from a year-on-year increase of 7.3 percent in the production of industrial vehicle tires, production volumes fell year-on-year for all tire...
Nihon Michelin Tire Co. Ltd. has recently invited members of the press to an educational seminar about winter tires. During the event, Michelin Japan’s engineers offered commentary about winter tire history, advances in tire technology, smart winter tire use and performance variation based on U.S. Department of Transportation (DOT) identification numbers. As technological innovation in the tire industry has accelerated...
Demand for automobile tires in Japan is expected to decrease for a second consecutive year, according to the mid-year review of domestic tire demand for 2016 published by the Japan Automobile Tire Manufacturers Association (JATMA) on July 21. The review places gross demand for tires including those for special and two-wheeled vehicles at 117.366 million units, a decline of 1.837...
