Sales at Sumitomo Rubber’s sports division slipped 5% to ¥27,961 million ($183.5 mm) in the fourth quarter from ¥29,391 million, blamed on a decelerating global golf market. Operating loss was ¥48 million ($0.3 mm) against a profit of ¥3,582 million. For the full year, revenues declined 1% to ¥125,650 million from ¥126,647 million, and operating income dropped 37% to ¥7,878 million from ¥12,482 million, with profitability impacted by deterioration in ... Log in to view full article.
