Bridgestone Corp. (TYO:5108) has announced that it is set to consolidate its production bases for truck and bus radial tires in China. Under its 2021–2023 medium-term business plan, Bridgestone is striving to rebuild its earning power by pursuing global restructuring efforts over the medium–long term for all of its operations, including tires, diversified products and material manufacturing. This latest decision...
Sumitomo Chemical Co. Ltd. (TYO:4005) is ceasing operations at its ethylene propylene diene monomer (EPDM) production plant in Sodegaura, Chiba Prefecture, with plans to complete its sale by the end of March 2023. Sumitomo Chemical has been making efforts to boost the competitiveness of its operations here by increasing added value and cutting costs. More than 50 years after it...
Toyoda Gosei UK Ltd. (TGUK), a local subsidiary of Toyoda Gosei Co. Ltd. (TYO:7282), is planning to end its production operations. The company is currently looking to consult with employees regarding the proposed closure. With automakers continuing to scale back or close their production in the U.K., TGUK has determined that it cannot expect to achieve growth going forward. This...
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