Kinugawa Rubber Industrial Co. Ltd. (TYO:5196) posted first quarter sales of 18.941 billion yen ($1.89 billion), marking a year-on-year decline of 2.2 percent. Operating profit for the same April–June period was similarly down, sitting at 1.774 billion yen after a 4.9 percent decrease. Meanwhile, pretax profit and quarterly net profit felt the brunt of exchange-rate losses. Pretax profit dropped 33.4...
Kinugawa Rubber Industrial Co. Ltd. (TYO:5196) will accept a takeover bid (TOB) from the Development Bank of Japan, Inc. (DBJ). For this deal, the DBJ has concluded separate agreements with Kinugawa Rubber Industrial’s largest shareholder, Nissan Motor Co. Ltd. (TYO:7201; stake of 20.25 percent), and second largest shareholder, Toyo Tire & Rubber Co. Ltd. (TYO:5105; stake of 11.89 percent), to...
Nissan affiliate Kinugawa Rubber Industrial Co. Ltd. enjoyed increased revenue and profit in the first half of fiscal 2015 (April–September). While revenue was down slightly in Japan due to lower output at Nissan Motor Co. Ltd. and a fall in orders for construction machinery products, earnings were up in the Americas and Asia. Factors contributing to higher profits included more...
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