Mitsuboshi Belting Ltd. (TYO:5192) is setting aside approximately 5.7 billion yen ($52.64 million) for capital investments in fiscal 2019, marking a 74 percent increase over fiscal 2018 to make for the company’s largest ever year of such investments. This will go toward updating and expanding the company’s production facilities, both in Japan and abroad; enriching test research facilities; and reconstructing...
Toyo Tire & Rubber Co. Ltd. (TYO:5105) has agreed to enter into a new capital partnership with Mitsubishi Corp. As part of this, Mitsubishi will be issued new Toyo Tires shares through a third-party allotment, bringing its current 3.05 percent stake in the company up to 20 percent and making it the top shareholder. Mitsubishi will achieve this by investing...
Sumitomo Rubber Industries Ltd. (TYO:5110) has announced that it intends to make an additional investment of 153 million Brazilian reals ($37.38 million) in response to growing Brazilian demand for truck and bus tires. The investment will go toward boosting production capacity at the company’s Brazil Factory, which is set to begin production of truck and bus tires next March. Initial...
Shin-Etsu Chemical Co. Ltd. (TYO:4063), a major player in the market for polyvinyl chloride (PVC) and silicone products, recently announced that it is looking to invest nearly 110 billion yen ($982.1 million) into facilities for its silicones business. These investments will be implemented in stages over approximately the next two and a half years, with the company improving its capacity...
Okamoto Industries Inc. (TYO:5122) President Yoshiyuki Okamoto believes that his company this year will likely be able to maintain the business performance that it saw with automotive products in 2017. Sitting down for an interview recently with Japan Rubber Weekly, Okamoto said that he expects these products to keep up sales levels, particularly in the U.S. and China, though he...
Nitta Corp. (TYO:5186) is moving forward with a capital investment plan totaling at 4.5 billion yen ($40.38 million) for fiscal 2017, directly linking the investment to company sales. Included in this amount, says President Motonobu Nitta, are remaining funds from fiscal 2016’s budget, as only 3 billion of the allotted 4.8 billion for the year was used. Investment will mainly...
