Sumitomo Gomu Kogyo KK
5110
ISIN JP3404200002 / Valor 763404
Sumitomo Gomu Kogyo KK
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About company
Sumitomo Rubber Industries, Ltd., a member of the Sumitomo Group, is a prominent global manufacturer of rubber-based products headquartered in Japan. The company produces a diverse range of products, including automobile tires, golf balls, and tennis balls. Its tire brands encompass Dunlop (in specific regions such as Asia, Africa, and Latin America), Falken, and Ohtsu. Additionally, Sumitomo Rubber Industries operates in the sports equipment sector through its subsidiary, SRI Sports Limited, which markets products under the Dunlop Sport brand and owns brands like Srixon, XXIO, and Cleveland Golf. The company has a historical connection to Dunlop Rubber, dating back to 1909, and has expanded its global footprint through strategic acquisitions, including Apollo Tyres South Africa in 2013. Sumitomo Rubber Industries continues to leverage its extensive portfolio and global presence to maintain a significant position in both the tire and sports equipment markets.
Summarized from source with an LLMView SourceSector: Non-Energy MaterialsLatest Results (07.08.2024):
Record High Sales Revenue
In Q1 of FY2024, Sumitomo Gomu Kogyo KK achieved a record high in sales revenue, reaching JPY291.4 billion. This represents a significant increase compared to the same period last year, driven by strong performance in their tire and sports businesses.
Increased Business Profit
Sumitomo Gomu Kogyo KK reported a business profit of JPY23.2 billion for Q1 of FY2024, marking a substantial improvement from the previous year. The business profit margin also saw a notable increase, rising from 2.9% to 8%.
Strong Tire Sales
The tire segment of Sumitomo Gomu Kogyo KK recorded sales revenue of JPY244.1 billion in Q1 of FY2024, which is 106% of the same period last year. Despite a decrease in unit sales, both sales revenue and business profit in this segment reached record highs.
Sports Business Performance
In the sports business, Sumitomo Gomu Kogyo KK achieved sales revenue of JPY36.7 billion in Q1 of FY2024, 103% of the previous year's level. However, business profit in this segment decreased to JPY4.2 billion due to increased overseas production costs influenced by the yen's depreciation.
Full-Year Forecast
For the full year of 2024, Sumitomo Gomu Kogyo KK expects sales revenue to reach JPY1.2 trillion, with a business profit of JPY80 billion. The company has revised its net income forecast upward to JPY38 billion, reflecting a positive outlook for the remainder of the year.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
2988 M
Market cap (USD)
757,700
Daily traded volume (Shares)
1785.5 / 1757
1 day high/low (USD)
52 weeks high/low (USD)
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