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Article: 4 JAPANESE TIREMAKERS END JULY-SEPT QTR IN BLACK ON OPERATING BASIS.
- Article from:
- AsiaPulse News
- Article date:
- November 10, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO, Nov 10 Asia Pulse - Four leading tire manufacturers have seen their group earnings improve, with all of them turning profits in the July-September quarter.
A decline in raw materials prices since last autumn contributed, as did progress made in cost-cutting. Demand appears to have bottomed out, mainly in such emerging nations as China.
Sumitomo Rubber Industries Ltd. (TSE:5110) swung to an operating profit in the April-June quarter, then posted a 10.4 billion yen (US$115.6 million) operating profit for the following three-month period.
Toyo Tire & Rubber Co. (TSE:5105) on Monday reported a 1.7 billion yen July-September operating profit, ...