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Yokohama Rubber Announces Consolidated Semiannual Results

The 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.

10th December 2003/by Tyrepress Editors

Yokohama plans tyre plant in Thailand

Yokohama 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.

5th December 2003/by Tyrepress Editors

German drivers happiest driving Japanese cars, says study

Car 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.

27th November 2003/by Tyrepress Editors

Bridgestone to supply Airbus with plane tyres

Bridgestone 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.

5th November 2003/by Tyrepress Editors

Honda net profit up 58 per cent

Honda’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.

30th October 2003/by Tyrepress Editors

Thai rubber price hits record high

The 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).

23rd October 2003/by Tyrepress Editors

Continental buys wheel sensor business

Continental 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.

15th October 2003/by Tyrepress Editors

Fire at Bridgestone factory to have long-term effects

Early 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.

9th October 2003/by Tyrepress Editors

Bridgestone To Re-open Plant Today

The 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.

12th September 2003/by Tyrepress Editors

Bridgestone Fire May Affect Supply

The fire at Bridgestone’s factory in Kuroiso City, Japan, has been brought under control, with nearby residents returning home after staying overnight at public facilities. It is anticipated that the fire will disrupt supplies to car manufacturers, with 150,000 tyres out of a total stored of 250,000 having gone up in flames. Mitsubishi is reported as saying that it will seek stocks from other manufacturers from 16th September, when stocks of Bridgestone tyres are expected to run out, while Toyota says that it does not expect the fire to disrupt its operations and the company will “get tyres from other production sites”.

9th September 2003/by Tyrepress Editors

Yokohama To Introduce Advan Brand To Europe

Yokohama Rubber is to introduce its Advan tyre brand into Europe for the first time at the forthcoming Frankfurt International Motor Show. The tyres on show will be run-flats and it is believed that Yokohama will market Advan as a high quality, high performance tyre for luxury cars, building up brand awareness by participation in motorsports events. Advan is an established brand in Japan and its only European exposure so far has been through OE fitment on imported vehicles.

3rd September 2003/by Tyrepress Editors

Toyo In Talks With Michelin

Toyo Tire & Rubber is involved in talks with “several companies” to jointly develop a run-flat tyre, say press reports. The name mentioned most often is that of Michelin, but Satoshi Takashina, spokesman for Toyo, said that no final decision has been reached and discussions are under way with a number of companies. A report in a Japanese business publication said that Toyo and Michelin would jointly develop and sell run-flat tyres, produced in Japan and the USA, by the year 2005. The speculation caused Toyo’s shares to rise sharply – at one point up by over 13 per cent.

26th August 2003/by Tyrepress Editors

Bridgestone Announces Expansion Of Truck And Bus Tyre Production

Bridgestone Corporation has announced an expansion in truck and bus radial production at three plants in Japan and one in Thailand. In Japan, two billion Yen (US$16.86 m) will be spent to increase capacity to 1,300 tyres a day. The factory at Chonburi, Thailand, will begin production in the second half of next year, at a rate of 2,500 tyres daily, which will double by 2006. Total investment in the plant will reach 24 billion Yen ($202.3 m).

13th August 2003/by Tyrepress Editors

Visteon Moves To China

Car parts producer Visteon is moving its Asian HQ from Tokyo to Shanghai in order to capitalise on the growth in demand for vehicles in China. Visteon has five joint ventures in China, all supplying the domestic industry, and last year they turned over $550 million, compared with $350 million from Japan.

25th June 2003/by Tyrepress Editors

Ohtsu Name To Disappear As Merger With SRI Is Completed

The merger between Sumitomo Rubber Industries and Ohtsu Tire & Rubber, which began in late 2001, is now complete, making SRI Japan’s second largest tyre manufacturer. The move will see the disappearance of the Ohtsu name as its activities are integrated into the new holding company Falken Tire Trading in an attempt to generate new synergies and reduce costs. Falken tyres will continue to be marketed independently and compete with other brands within the SRI group.

13th June 2003/by Tyrepress Editors