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Japanese Rubber Companies Heavily Revise Earnings Projections

on November 17, 2016 in Industry

As companies are releasing their second-quarter earnings for the business year ending on March 31, 2017, some stand out for their revisions to projected full-year earnings. Cost-cutting boosted profits for some, while the higher yen hurt others. The following companies announced upward revisions to profit for the period: Achilles Corp. (TYO:5142), Okamoto Industries Inc. (TYO:5122), Mitsuboshi Belting Ltd. (TYO:5192), Tigers...

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JRW Survey: Tire Makers Top Other Rubber Manufacturers in Ordinary Income

on August 31, 2016 in Interviews, Market Background

With an ordinary income of 226.91 billion yen ($2.205 billion) in fiscal 2015, Bridgestone Corp. (TYO:5108) held the top spot among 165 major Japanese rubber manufacturers, found a survey published in the September issue of Japan Rubber and Elastomers, a monthly sister publication of Japan Rubber Weekly. For Bridgestone, this marked a 0.4 percent year-on-year decline. The number two, Toyo...

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NOK Gets Spark From Overseas Automotive Demand in Otherwise Difficult Q1

on August 16, 2016 in Products

Major manufacturer of oil seals NOK Corp. (TYO:7240) posted first quarter sales of 147.11 billion yen ($1.454 billion) for April–June, representing a year-on-year decline of 16.5 percent. Operating profit, meanwhile, plummeted 96.8 percent, dropping down to 377 million yen. Furthermore, after having enjoyed pretax profits of 15.263 billion yen for the same period in 2015, this year NOK has reported...

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Rubber Industry Feels Impact of Kumamoto Earthquakes – Special Report

on April 27, 2016 in Interviews, Market Background

Rubber manufacturers in the Japanese prefectures of Kumamoto and Oita have been greatly affected by a recent string of earthquakes that have centered on Kumamoto Prefecture, beginning with a foreshock at 9.26 p.m. on April 14. Bridgestone Corp. (TYO:5108) and NOK Corp. (TYO:7240) suspended operations at their respective manufacturing plants in Kumamoto Prefecture. Meanwhile, damage to locally based Tsuchiya Rubber...

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Good Second-Half Earnings for NOK

on November 25, 2015 in Industry

Major Japanese oil seal maker NOK Corp.‘s performance in the first half (April-September) of 2015 achieved large increases in revenues and profits, with net sales increasing 22 percent year-on-year to 383.6 billion yen ($3.13 billion); operating profit rising 15 percent to 29.3 billion yen ($239.37 million); ordinary income increasing 11 percent to 34.3 billion yen ($280.23 million); and quarterly net...

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