Sumitomo Riko Co. Ltd. (TYO:5191) has announced plans to establish a flexographic printing plate production site in Italy. The investment of 5 million euros ($5.22 million) in Turin province is part of the company’s efforts to develop the European market. With operations scheduled to start from beginning of 2018, the project is expected to contribute to achieve 14 million euros...
Sumitomo Riko Co. Ltd. (TYO:5191) has reported that sales for the second quarter of the fiscal year ending March 2017 declined due to a negative impact of currency exchange rates caused by a strong yen. However, operating profit rose on the back of a sales volume increase mainly in North America, China and other Asian countries, positive effects of restructuring...
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...
Sumitomo Riko Co. Ltd. (TYO:5191) has recently set up “Kyoshokai,” a distributors conference for Sumiriko Industrial Products Shanghai Co. Ltd., the company’s industrial hose sales subsidiary based in Shanghai, China. Kyoshokai has been established with the aim of gathering dealers that market Sumitomo Riko-branded products, provide them with information about new products and other company news, and to share market...
During a recent interview granted to Japan Rubber Weekly, Tetsu Matsui, president and COO of Sumitomo Riko Co. Ltd. (TYO:5191), shared his thoughts about the company’s overseas operations and strategies for getting new business, especially its plans to gain new customers by establishing and utilizing the Advanced Automotive Systems R&D Center, a new facility intended to boost profitability. Matsui said...
Tetsu Matsui, president and COO of Sumitomo Riko Co. Ltd. (TYO:5191), said in a recent interview with Japan Rubber Weekly that although net sales fell due to currency exchange losses caused by a higher yen and despite a cloudier picture that falling business confidence paints for future profits, the company’s performance has been largely as planned. Matsui said that Sumitomo...
