Latest Sumitomo Financials See Company in Stronger Position

Sumitomo Rubber Industries’ financial results for the nine months to September 30 show a 19 per cent increase in net sales plus a return to the black. During the nine-month period the company took in net sales of 424,514 million yen (£3.2 billion), as opposed to 356,662 during the same period of 2009. Operating income amounted to 28,640 million yen (£215.2 million), 190 per cent more year-on-year. Ordinary income was for the nine months was 25,311 million yen (£190.2 million) and net income 14,036 million yen (£105.5 million).

Just over half of all net sales were generated outside of Japan, with Europe accounting for 6.8 per cent of the global total. The company’s tyre segment accounted for 84.2 per cent per cent of the total sales, with sales to unaffiliated customers amounting to 357,557 million yen (£2.7 million), 22.3 per cent higher than between January and September 2009. Tyre segment operating income was 22,462 million yen (£168.7 million), up 225.4 per cent on a year earlier.