Japanese Company Update: Dunlop, Globeride, Goldwin, Yonex & Zett
Sales at Sumitomo Rubber’s sports division, which includes Dunlop, Srixon and XXIO, declined 9% in the final quarter to ¥20,458 million ($195.8 mm) from ¥22,416 million. The sports business generated its second consecutive quarterly operating profit, netting ¥1,120 million ($10.7 mm) against a profit of ¥1,999 last year. The weak first half weighed on full-year results though, as revenues fell 17% to ¥70,257 million from ¥84,705 million, resulting in an operating loss of ¥741 million against a profit of ¥4,282 million in 2019. Golf and tennis sales both improved in the U.S. and Europe in the final quarter, but the ... Log in to view full article.