Sumitomo Rubber Industries Ltd. (TYO:5110) has made a revision to its earnings forecast for calendar 2019, driven in large part by the company factoring in expenses of 18.2 billion yen ($165.74 million) in impairment losses. These impairment losses relate both to fixed assets as well as to goodwill, which represents the discrepancy between fair market value and purchase price in...
The Japan Rubber Hose Manufacturers Association has published a forecast pointing to a decline in Japan’s rubber hose market over 2019–2020. Released on Nov. 26, the forecast estimates that while Japan’s high-pressure hose production is set to rise for 2020, the market for automotive hoses looks likely to fall, causing the country’s overall production of rubber hoses to drop for...
The Japan Automobile Tyre Manufacturers Association (JATMA) recently published a midyear revision to its forecast of Japan’s automotive tire demand for 2019. The forecast shows that in terms of overall domestic figures – which include tires not only for four-wheeled vehicles but also for two-wheelers and other special vehicles – demand is projected to come to 117,517,000 tires for 2019,...
Japan’s four major tire manufacturers have now posted their earnings forecasts for calendar 2019, with the general trend of expectations here pointing to increased sales and decreased profits. And amid this, all four of the companies are planning increases to their production capacity. While a number of factors make 2019 a difficult year to predict – including the U.S.–China trade...
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...
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