Continental revealed its strategy for growth at its Capital Market Day yesterday. The company aims to enhance value creation by implementing cost reduction measures, with a goal of achieving an adjusted EBIT margin of 8-11% within 2-3 years and improving within this range thereafter. Continental also refined its sales targets and now aims for €44-48 billion in 2-3 years and €51-56 billion in 3-5 years.
Tyre-related business profit at Sumitomo Rubber Industries (SRI) stood at 67.9 billion yen in 2016 and was still a respectable 41.4 billion yen in 2021, but last year dropped to 12.3 billion yen (£76.2 million). It’s therefore no surprise that SRI believes it has been investing too much capital in unprofitable businesses, and the company intends to change this.
Bridgestone Corporation today announced the outline of its Mid-term Management Plan for 2017 (2017MTP), which covers the five years from 2018 to 2022. The 2017MTP continues the Bridgestone Group focus, held since the 2013MTP, on three key subjects – cultivating global corporate culture, developing human resources capable of global management, and upgrading the company’s global management structure.
Along with the unveiling of its ‘Vision 2020’ strategic plan that outlined aims leading up to its 100th anniversary, in May 2011 Toyo Tire & Rubber announced its ‘Mid-term 11’ plan that identified goals for the years to 2015. The tyre maker now reports that due to a favourable business climate, including a weakening of the Japanese yen and lower raw material prices, it has met the Mid-term 11 targets – such as boosting supply capacity – ahead of schedule. Toyo has now set itself a new three-year mid-term business plan, titled ‘Mid-term ’14 GO BEYOND’. This latest plan sets this year as a starting point and covers specific targets up to the end of 2016, while looking forward five years to 2018.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.