Yokohama Rubber’s sales increased by 28.8 percent year-on-year to 391.48 billion yen ($2.81 billion) in the first half (January-June) of the fiscal year ending December 31, 2022. Business profit for the period was 27.73 billion yen, up 5.3 percent; and net income was 23.31 billion yen, down 36.9 percent. The factors for increases and decreases at the business profit level...
This article follows part 1 in a series of 2 on Sumitomo Rubber’s first half financial results (January-June of the fiscal year ending December 31, 2022). Looking at Sumitomo Rubber’s performance by segment, the tire business posted sales revenue of 430.85 billion yen ($3.13 billion), up 16.7 percent year-on-year, and operating profit of 7.66 billion yen, down 67.4 percent. Japanese...
Sumitomo Rubber has posted revenues of 512.11 billion yen ($3.71 billion) for the first half (January-June) of the fiscal year ending December 31, 2022, up 16.4 percent year-on-year. Business profit was 14.18 billion yen, down 52.9 percent; and overall profit was 17.19 billion yen, down 16.2 percent. In a highly uncertain economic environment, including the coronavirus pandemic, the situation in...
This article follows part 1 in a series of 2 on second quarter financial results (January-June of the fiscal year ending December 31, 2022) of the four large Japanese tire manufacturers. Sales increased by double digits year-on-year for all four companies. With its strong demand and weak yen exchange rate, the U.S. market was one of the factors that contributed...
Japan’s four major tire manufacturers have now all posted their financial results for January–June 2022. The four companies – Bridgestone, Yokohama Rubber, Sumitomo Rubber, and Toyo Tires – each achieved double-digit increases to their sales revenue when compared to the first half of the previous year, on top of which the first two of these companies managed a year-on-year increase...
Butadiene rubber (BR) manufacturer Ube has posted its results for the first quarter of fiscal 2022. The company’s sales revenue came to 116.18 billion yen ($871.79 million), down 20.6 percent from the same quarter last year; operating profit was 4.36 billion yen, down 51.1 percent; ordinary profit was 2.3 billion yen, down 74.3 percent; and net profit was 5.74 billion...
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