Toyo Tire & Rubber Co. Ltd. (TYO:5105) has downwardly revised its results forecast for calendar 2018, lowering its projections for sales by 1.3 percent, operating profit by 4.3 percent, ordinary profit by 5.2 percent and net profit by 24.1 percent when compared to initial estimates. Explaining the adjustment to operating profit, company president Takashi Shimizu first said that while raw...
Yokohama Rubber Co. Ltd.’s (TYO:5101) consolidated results for calendar 2018 appear set to hold to the company’s forecast announced this past February. While this has been helped along by natural rubber prices dropping 7 cents from what had been expected, a surge in crude oil prices has brought increases to synthetic rubber and carbon black prices, with this expected to...
Sumitomo Rubber Industries Ltd. (TYO:5110) has announced a downward revision to its forecast of business results for calendar 2018. Compared to the company’s initial forecast, the revision sees sales lowered by 1.1 percent, business profit by 6.8 percent and net profit by 10.4 percent. The main factor behind the revision is Sumitomo Rubber’s tire business, for which both sales and...
Bridgestone Corp. (TYO:5108) has released its business results for the first half of calendar 2018, showing 1.9 percent year-on-year sales growth to total 1.78 trillion yen ($15.98 billion) for the period. Meanwhile, the company’s operating profit fell 1.4 percent to 199.43 billion yen, ordinary profit was down 2.6 percent to 190.76 billion yen, and net profit was up 2.1 percent...
Sumitomo Rubber Industries Ltd. (TYO:5110) announced on Aug. 7 that it has established production facilities for truck and bus tires at its South Africa Factory, beginning production for this on July 19. Having invested approximately 970 million rand ($64.73 million) into the facilities, the company expects that production capacity will get up to 750 truck and bus tires per day...
Nihon Michelin Tire Co. Ltd. recently announced that it will start selling retreads of the Michelin X One, a wide single tire for trucks and buses, starting from October 1. The launch will see the company accelerate its efforts toward cost-cutting and environmental protection in the transportation industry. As a single tire able to replace the dual tires used at...
