Sumitomo Riko has begun renovation of its Komaki Plant to achieve the 2029 Sumitomo Riko Group Management Vision (2029V). As the first phase of this project, a groundbreaking ceremony for a new chemical engineering plant was held on November 28. In 2021, the company has dismantled the former company housing and gymnasium in the northern part of the Komaki Plant...
Sumitomo Riko’s heat shielding film is widely being adopted for in-vehicle use in Malaysia. The film is installed on front and front side glass and has been used in approximately 100,000 vehicles, including in police vehicles. The company plans to strengthen its sales expansion activities in Southeast Asia and India. The film was developed in collaboration with Ecotint, a Malaysian...
Sumitomo Riko’s first half (April-September 2023) results (IFRS) showed net sales of 297.88 billion yen ($1.98 billion), up 16.5% year-on-year; operating income of 12.78 billion yen, compared with a loss of 894 million yen in the same period of the previous year; and net income of 5.83 billion yen, compared with a loss of 4.79 billion yen. By business segment,...
Sumitomo Rubber will collaborate with Sumitomo Riko and Sumitomo Electric Industries to develop recycling technologies to realize the Circular Economy. In November 2022, Sumitomo Riko announced the conclusion of a joint development agreement with Lanzatech, a U.S. biotechnology company with carbon capture and conversion technology. Sumitomo Rubber and Sumitomo Electric Industries are now participating in this joint development. By collaborating...
On May 30, President Kazushi Shimizu of Sumitomo Riko announced the Sumitomo Riko Group Vision 2029 (2029V) and the Sumitomo Riko Group Medium-Term Management Plan 2025 (2025P). Under 2025P, which begins in fiscal 2023, the company aims to increase consolidated net sales from 541 billion yen ($3.87 billion) in fiscal 2022 to 620 billion yen and business profit from 17.9...
In its business results for the fiscal year ended March 31, 2023 (IFRS basis), Sumitomo Riko posted sales of 541.01 billion yen ($3.92 billion), up 21.3% year-on-year; business profit of 17.87 billion yen, up 176.3%; and net income of 6.68 billion yen, compared with a loss of 6.35 billion yen in the previous year. By business segment, sales in the...
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