Japan Archives - Page 41 of 58 - Tyrepress

Tag Archive for: Japan

Yokohama Reports 88% Increase in Net Earnings

Yokohama Rubber Co., Ltd. has reported an 88.1 per cent increase in net income. According to official financial results, the company generated a total of 25.7 billion yen (£123.5 million) net income in the first three quarters of its current financial year, ended 31 December. Increases of 80.2 per cent in operating income, to 30.8 billion yen (£148 million), and 11.4 per cent in net sales, to 409.7 billion yen (£2 billion) underlined growth in post-tax earnings.

Operating income nearly doubled in Yokohama’s Tire Group, climbing 98.8 per cent, to 25.6 billion yen (roughly £123.5 million), on sales growth of 13.1 per cent, to 312.5 billion yen (£1.5 billion). Improved profitability at Yokohama’s subsidiaries in the US and in Asian nations outside Japan is said to have “amplified” unit sales gains.

12th February 2008/by Tyrepress Editors

Yokohama Subsidiary Gains ISO Certification

Yokohama Rubber reports that its US subsidiary engaged in the manufacture of rubber hoses for vehicle air conditioning and power steering units, SAS Rubber Company, became ISO 14001 certified in December 2007. According to Yokohama, the ISO 14001 certification of the Ohio facility comes as part of the company’s Grand Design 100 plan (GD100), first announced in April 2006; under the principles of GD100 all Yokohama group companies have been working on acquiring ISO 14001 certification, and all eleven of the company’s production bases in Japan and the corporate head office have already done so. Of Yokohama Rubber’s 13 overseas locations, nine, including SAS Rubber Company, have also been certified. The remainder, Yokohama reports, are working to complete the process at the earliest possible time.

8th February 2008/by Tyrepress Editors

Chicago Pneumatic Buys Japanese Tool Manufacturer

Chicago Pneumatic Vehicle Service Division recently acquired Tokyo based KTS Co. Ltd., a leading Japanese maker of handheld air tools for the vehicle service market. The agreement, which was signed in December 2007, further strengthens the presence of CPVS, and its range of tools and associated products to the automotive aftermarket sector, in Japan and Asia.

KTS’ product range includes Power Magnum branded tools as well as air tools sold under other OEM brands. KTS serves the second largest automobile market in the world, providing Chicago Pneumatic with a brand, sales force and manufacturing arm which will facilitate fast growth in Japan and throughout Asia.

8th February 2008/by Tyrepress Editors

Yokohama Enters Partnership with Mazdaspeed

Mazda’s motor racing support operation in North America, Mazdaspeed Motorsports Development, has announced Yokohama Tire as a new partner for the B-K Motorsports Lola B07/46-Mazda MZR-R LMP2 team as of 2008. The multi-year partnership is, according to Mazdaspeed, more than just a sponsorship arrangement, with Yokohama acting as a key contributor to the team’s overall programme in terms of technical and marketing collaboration. The announcement of Yokohama’s partnership was made simultaneously to a similar agreement with BP.

31st January 2008/by Tyrepress Editors

Bridgestone to Expand China Retail Network

Bridgestone intends to more than double its retail network in China within the next four years, reports Japan’s Nikkei News. At present the company operates 700 outlets in China, and by the end of 2012 plans to have increased this number to 1,700. Specifically, the number of specialised Bridgestone tyre stores will grow from 587 to about 1,200, while its automotive products outlet network will grow from 121 to around 500.

28th January 2008/by Tyrepress Editors

Synthetic Rubber Producers Fined for Price Fixing

The European Commission has imposed fines totalling 34,230,000 euros on the Bayer and Zeon groups for fixing prices for Nitrile Butadiene Rubber (NBR) in violation of the EC Treaty’s and the EEA Agreement’s ban on cartels and restrictive business practices (Article 81 of the EC Treaty and Article 53 of the EEA Agreement).

Between late 2000 and 2002, Germany’s Bayer and Japan’s Zeon managed to raise or otherwise stabilise prices through a series of meetings and other illicit contacts. Bayer’s and Zeon’s fines have been reduced by 30 and 20 per cent respectively, because they co-operated with the investigation under the Commission’s 2002 Leniency Notice (see IP/02/247 and MEMO/02/23). However Bayer’s fine was then increased by 50 per cent because it had been fined for cartel activity in a previous Commission decision.

24th January 2008/by Tyrepress Editors

Toyo Releases Findings of Compliance Reporting Investigation

On January 8 Toyo Tire & Rubber issued its findings from an internal investigation into the company’s urethane-based heat-resistant building construction material business, and announced an action plan to ensure future compliance with all laws, regulations, company policies and rules. The compliance reporting issue in question was made public in November 2007, and its rectification will cost the company as much as £17.52 million.

The investigation was performed by an internal fact-finding committee with oversight by a panel of independent, third party experts. The committee first determined the causes and circumstances that led to this compliance issue, and made recommendations to management on an action plan to eliminate the likelihood of its recurrence. On December 26, the committee made its report to Toyo’s Board of Directors, and to Japan’s Ministry of Land, Infrastructure and Transport.

10th January 2008/by Tyrepress Editors

American Market WRX STI on Dunlop Performance Tyres

The 2008 Subaru Impreza WRX STI sold in North America will sport Dunlop SP Sport 600 radials. The tyres, which were specially designed to match the car’s suspension, were produced in Japan, Goodyear said. The tyre will be supplied in size 245/40R18 93W, The Dunlop SP WinterSport 3D is the winter tyre option on the new car, as is the Dunlop SP Sport 01 UHP in size 235/45R17 94W. (Tire Review/Akron)

7th January 2008/by Tyrepress Editors

Michelin to Up Prices in Japanese Market

Michelin is set to raise prices in Japan across a range of products due to the rising cost of raw materials. The price of summer tyres for passenger and light trucks will increase by an average of 5 per cent, while truck and bus summer tyres will increase by an average of 7 per cent, according to a Michelin statement. The changes will take effect on 1 March 2008. The prices for industrial tyres will increase by 8 per cent, with agricultural tyre prices rising 3 per cent.

2nd January 2008/by Tyrepress Editors

Bridgestone Climbs Nikkei Environment Rankings

The Bridgestone Corporation jumped to 2nd place in the 2007 Nikkei Environmental Management Survey in Japan on 1st December 2007. The research was conducted by Japan’s leading business newspaper Nihon Keizai Shimbun Inc., abbreviated as Nikkei and known the world over for its Tokyo stock market index.

The survey monitors environmental policies and practices, both in Japan and around the world, of leading Japanese companies in all major industry sectors. Findings are converted into scores to produce a ranking for both manufacturing and non-manufacturing companies. According to the company, Bridgestone’s strong showing is partly due to earning the maximum 100 points for “product measures”, defined by the company’s global commitment to reduce the environmental impact of tyres right through the product life cycle.

2nd January 2008/by Tyrepress Editors

Japan’s Trade Commission Issues Order Against Rubber Hose Cartel

Japan’s Fair Trade Commission is taking steps against Bridgestone and four international companies that have since May been under the spotlight for rubber marine hose price fixing. The competition watchdog intends to issue an administrative order to the companies to ensure the cessation of any remaining cartel activities, the first time such an order has been issued to foreign companies. The four international companies are the UK’s Dunlop Oil and Marine, a unit of Sweden’s Trelleborg AB, and Italy’s Parker ITR and Manuli Rubber Industries.

7th December 2007/by Tyrepress Editors

Toyo Names New President & CEO

Toyo Tire & Rubber Co. Ltd. of Osaka, Japan, has appointed Kenji Nakakura as the company’s new president and chief executive officer. Mr. Nakakura will also serve as Representative Director for the company and will continue to serve as a member of the board. He will assume all responsibilities effective 1 January, 2008. Mr. Nakakura has previously served as a managing executive officer for the company and president of Toyo’s DiverTech business prior to this appointment. DiverTech manages and oversees both chemical and industrial products as well as an automotive parts division for the company. Mr. Nakakura replaces Yoshio Kataoka, who will become advisor to the president and will continue serving as a member of the board.

6th December 2007/by Tyrepress Editors

BFMO President Wada to Retire

Masao Wada, a 37-year veteran of the Bridgestone group of companies and current president of President of Bridgestone Firestone Manufacturing Operations (BFMO), had taken the decision to retire as of March 1, 2008. Wada will also retire from his positions as executive vice president and member of the Board of Directors of Bridgestone Americas Holding. Succeeding Wada in the role of president will be incumbent BFMO vice president Steven Brooks, whose appointment commences on January 1, 2008 in order to provide for a smooth management transition.

5th December 2007/by Tyrepress Editors

Yokohama Releases 2007 Environmental Report

The Yokohama Rubber Co has produced an English language version of the company’s “Environmental and Social Report 2007”, and a PDF file of this report has been posted on the Yokohama Rubber website. It can be viewed at: http://www.yrc-pressroom. jp/env_en. The 56-page document presents environment related data from 20 of the group’s domestic and overseas production sites plus the Yokohama Rubber headquarters and the group’s companies in Japan. The release of the PDF has been accompanied by the introduction of a new section of the Yokohama website, where information on the company’s environmental and social activities can be found.

3rd December 2007/by Tyrepress Editors

Bridgestone to Increase Prices in Japan

Bridgestone announced on November 22 that it will raise prices on March 1, 2008 for tyres, tubes and flaps sold in the Japanese replacement market, with prices for winter tyres to increase a month later. Specific price increases include 5.5 per cent for passenger car and light truck tyres, 7.0 per cent for truck and bus tyres, 10 per cent for construction vehicle tyres, 7.0 to 10.0 per cent for industrial vehicle tyres, 10.0 per cent for motorcycle bias tyres, 7.0 per cent for other kinds of tyres, and 10.0 per cent for tubes and flaps.

22nd November 2007/by Tyrepress Editors