Minekazu Fujimura named Chairman, CEO and President of BSEU
As from April 2004, Minekazu Fujimura has taken up the position of Chairman, Chief Executive Officer (CEO) and President of Bridgestone Europe (BSEU).
Tag Archive for: Japan
Toyo and Michelin Conclude A Licensing Agreement for PAX
Product NewsToyo and Michelin signed a licensing agreement, under which Michelin will license its PAX System technology to Toyo. With the new agreement, Toyo obtains rights to produce and market run-flat systems for passenger cars and light trucks based on PAX System, both for auto makers and the replacement tire market in Japan.
ALPS Develops Batteryless TPMS
Product NewsJapan-based ALPS Electric has completed development of a batteryless tyre pressure monitoring system and plans to commence mass production this year. The system has been developed in collaboration with the world’s leading tyre and valve manufacturers and will be on display at the ALPS Show, to be held at the New Takanawa Prince Hotel in Tokyo for three days, beginning 26th May.
Keegan joins SRI board
Product NewsRobert J. Keegan, chairman and chief executive officer of The Goodyear Tire & Rubber Company, has been elected to the board of directors of Sumitomo Rubber Industries Ltd. in Kobe, Japan. Goodyear and Sumitomo Rubber Industries have six joint venture businesses in North America, Europe and Japan. In addition, each company holds common stock in the other.
Bridgestone Corporation Reports Sales and Earnings for Fiscal 2003
Product NewsThe group recorded a 96 per cent increase in net income in 2003, to ¥88.7 billion (0.8 billion US dollars), on a 2 per cent increase in net sales, to 21.5 billion US dollars. Operating income was basically unchanged, at 1.7 billion US dollars, and ordinary income rose 13 per cent 1.6 billion US dollars. Net return on shareholders’ equity was 10.5 per cent, compared with 5.6 per cent in the previous year. Contrasting geographical trends characterized the operating environment. In Japan, economic recovery was weak. In the latter half of the year the weakening of the dollar affected Japanese exports adversely. Escalating costs for natural rubber and other raw materials undercut profitability in all principal markets throughout the year. Sales of tyres increased 2 per cent to 17.2 billion US dollars. However, operating income in the tyre segment declined 4 per cent to 1.4 billion US dollars. Sales in Europe rose 20 per cent to 2.7 billion US dollars, and operating income climbed 87 per cent to 0.14 billion US dollars, reflecting success in focusing sales on high-value products and the results of a financial restructuring in the previous year.
Bridgestone expects special profit
Product NewsBridgestone Corp. said yesterday it expects a group special profit of around 60.0 billion yen (445 million euro) related to plans to return 65.0 billion yen in pension assets to the government in 2005. The Japanese tyre maker said that on a parent basis it expects a special profit of around 60.0 billion yen. Since the move is planned for 2005, the size of the special profit it will book may change, the company said. Many companies in Japan have opted to return the state-financed portion of employee pension plans they managed on behalf of the government.
Yokohama Rubber Announces Consolidated Semiannual Results
Product NewsThe Yokohama Rubber Co., Ltd., announced its consolidated results for the first half of fiscal 2004. The high value of the yen and sluggishness in the market for replacement tyres in Japan led to an overall decline in Yokohama’s tyre sales, but sales of hydraulic hoses and golf products increased. Sales of the tyre group amounted to 960.3 million Euro, a 0.8 per cent slide, and operating income decreased 27.5 per cent, to 15.1 million Euro. Demand in the Japanese market fell considerably, as both unit- and value-based sales of replacement tyres contracted. Sales of tyres on an original equipment basis were basically unchanged. Reflecting the current operating environment and these results, in fiscal 2004 Yokohama forecasts consolidated net sales of 3.02 billion Euro, a 0.1 per cent decrease, and net income of 75.6 million Euro, a 1.4 per cent decrease.
Yokohama plans tyre plant in Thailand
Product NewsYokohama is set to invest 5.5 billion Yen (US$ 50.8 million) to build a new factory in Thailand, producing steel radials for trucks and buses. The new factory – Yokohama’s second for CV tyres outside Japan (the first is in the USA) – will initially produce 300,000 tyres annually, with this figure doubling to 600,000 units by 2007. The tyres will be marketed world-wide.
German drivers happiest driving Japanese cars, says study
Product NewsCar drivers in Germany, long held to be home to some of the best engineered vehicles in the world, are happier driving Japanese cars than German ones, a consumer satisfaction survey has shown. The survey, complied by German drivers association ADAC and the Center for Automotive Research (CAR) group, asked more than 38,000 German car owners how satisfied they were both with the product and the service they received from manufacturers. German industry stalwarts Mercedes, Volkswagen and Opel came in near the bottom of the pile, while Japanese names clinched the top seven places. Porsche, the world’s most profitable carmaker famed for its growling sports cars, was the only German company to make it into the top ten. Japan’s Toyota, maker of the world’s best selling car, the Corolla, and the envy of the auto industry due partly to the efficiency of its plants, topped the list. Subaru, Honda, Mazda and Nissan completed the top five.
Bridgestone to supply Airbus with plane tyres
Product NewsBridgestone Corp, Japan’s biggest tyre maker, said on Wednesday that European plane maker Airbus will use its tyres on all its aircraft. Bridgestone, which already supplies tyres to Airbus’s rival Boeing, said in a statement that it had certified its tyres for use on all aircraft models, ranging from the long-range A330 to the single-aisle A320 planes. The deal follows an announcement in June that Bridgestone will supply tyres for Airbus’s A380 — a next-generation super jumbo that is being touted as the world’s biggest passenger plane and is due to go into service in early 2006. A Bridgestone spokeswoman said the latest agreement would help boost sales of Bridgestone’s aircraft tyre business but would have a negligible impact on its earnings outlook. Bridgestone has one-third of the global market for passenger aircraft tyres, and its annual aircraft tyre sales came to around 10 billion yen (80 million euro), or 0.5 percent of total revenues, in 2002/03.
Honda net profit up 58 per cent
Product NewsHonda’s net profit for the third quarter was up 58 per cent to 137.36 billion Yen (1.08 bn Euro). The main reasons were strong sales of the Accord in China and the USA, plus good US sales of the Pilot and Element SUVs. Operating profit was down slightly at 151.69 billion Yen (1.2 bn Euro), compared with 153.05 billion Yen for the same period last year. Despite the good figures, Honda says that full year revenue will probably be lower than forecast, due to unfavourable currency movements and continued low sales in Japan.
Thai rubber price hits record high
Product NewsThe price of rubber in Thailand has risen to a record high of 50 Baht per kilo (1.07 Euro), which is good news for growers and not so god for producers of products such as tyres. Last year Thailand exported 2.35 million tonnes of rubber to 60 countries, with China and Japan each taking just under half a million tonnes. This year China is expected to be the largest customer, taking around 550,000 tonnes, valued at 30 billion Baht (642.6 million Euro).
Continental buys wheel sensor business
Product NewsContinental has bought a wheel sensor business with operations in Japan and China. Continental and its Japanese partner Nisshinbo Industries bought Nagano Japan Radio Co.’s wheel sensor unit as well as its Chinese subsidiary. Nagano Japan Radio Co. produces sensors used in anti-lock braking systems, with much of its production at its Chinese plant. The unit employs around 1,350 people and had sales of around 65 million US Dollars in 2002.
Fire at Bridgestone factory to have long-term effects
Product NewsEarly in September, a major fire broke out in Bridgestone’s Tochigi factory in Kuroiso City, 150 km north of Tokyo. The factory is located in a residential area and more than 5,000 local residents were evacuated, spending the night at public facilities as firefighters battled to control the blaze. Some members of the public suffered minor eye and throat irritation, but there were no reports of serious casualties.
At its height, 128 fire engines, over 1,000 firefighters and a firefighting helicopter were involved in tackling the blaze and, 24 hours after the fire began, it was under control, though still not totally extinguished. The Tochigi complex opened in 1971 and covers 510,000 square metres. 850 workers are employed at the plant, all of who were evacuated safely, and products include tyres for passenger cars, trucks and monorails. Around 6,700 tons of tyres a month were produced at the factory, or some 13 per cent of Bridgestone’s Japanese production.
One estimate was that, of 250,000 tyres stored near the plant, 150,000 had been destroyed, as well as extensive damage to the production facility itself. Even before the fire was completely extinguished, industry pundits and investors were debating the possible knock-on effects for the Japanese manufacturer. Mitsubishi was reported as saying that it expected stocks of Bridgestone tyres to be depleted after 16th September, at which date it would seek to source tyres from other manufacturers. On the other hand, Toyota said that it did not expect the fire to disrupt operations and the company would “get tyres from other production sites”.
Bridgestone has eight other tyre plants in Japan and the company said that overtime and weekend work would be necessary at these and other factories in southeast Asia. This may be easier said than done, as recently Bridgestone said it wanted to increase production capacity at plants in Japan (including Tochigi) and elsewhere in the world. These factories were said to be already running at full capacity and Bridgestone had earmarked $773 million to fund this expansion.
Bridgestone To Re-open Plant Today
Product NewsThe fire-ravaged Bridgestone factory at Kuroiso City in northern Japan will resume “limited production” today, said corporation president Shigeo Watanabe at a press conference. He added that the shortfall in production would be made up by Bridgestone’s other Japanese factories.
