The Automotive Parts Services Group (The Group) has honored three suppliers for sales and service excellence.
DENSO Corp. posted net income of 287.4 billion yen on net sales of 4.1 trillion yen for its fiscal year ended March 31, 2014. That compares to income of 181.7 billion yen on sales of nearly 3.6 trillion yen for the previous year.
Based on the exchange rate on March 31, 2014, DENSO recorded net income of $2.8 billion on sales of $39.8 billion for fiscal 2014. Its income-to-sales ratio was 7%.
The company's operating income was up 44% year over year, from 262.3 billion yen to 377.7 billion yen ($3.6 billion).
"The sales and operating income increased due to an increase in car production mainly in developed countries, in addition to the impact of the weak yen,” says CEO and President Nobuaki Katoh.
In North America, an increase in car production and the impact of the weak yen led to an increase in sales to 816.6 billion yen ($7.9 billion), a 28.5% increase from the previous year. As a result of the increase in production volume, the operating income totaled 14.7 billion yen ($143 million), a 9.1% increase.
“For the new fiscal year, we expect sales to increase and income to decrease from the previous year," says Katoh. "This is due to the decrease in production volume within Japan, in addition to investment costs for initiating new products and to increase capabilities in overseas plants for future competitiveness."
DENSO's board of directors approved a fiscal year-end dividend of 58 yen per share payable June 19, 2014.
Zhongce Rubber Group Co Ltd. (ZC Rubber) has opened a research and development center in China in cooperation with a state-owned research and development institute.
Since 1994 Bauer Built Inc. has recognized the children and grandchildren of its employees through the G. F. “Sam” and Ethel V. Bauer/Bauer Built Inc. Scholarship program. Four high school seniors have earned the prize in 2017.
Amanda Mathis will continue to lead Bridgestone America Inc.'s financial team in a new role: chief financial officer (CFO).
Pneus Unimax Ltd., the company that's working to spread the Point S banner in Canada, has hired Jeff Bullock as its business development manager for the English-speaking portions of the country.
As I am sure all MTD readers can appreciate, Europe is currently in the grip of a number of significant business trading changes including a fluctuating economy and the very real prospect of the UK market eventually leaving the European Union.
According to the results of our survey, demand for passenger and light truck replacement tires declined in March. Indeed, from a volume standpoint, the dealers reported they sold 0.8% fewer tires in March relative to the previous year’s period. The decline marks the third straight month of poor results versus the prior year’s period. However, on more a positive note, trends improved sequentially.
Which tire company is associated with Major League Baseball? Is it Falken Tire Corp.? Hankook Tire America Corp.? Yokohama Tire Corp.? Toyo Tire U.S.A. Corp.? Kenda USA? Nexen Tire America Inc.?
American Tire Distributors Inc. (ATD) has opened its fourth regional mixing center in the U.S. Large enough to hold nearly 1 million tires, the mixing center in the Dallas/Fort Worth area will replenish the inventories of 32 ATD distribution centers in the Southwest.
The Tread Rubber and Tire Repair Materials Manufacturers Group (TRMG) has released additional Recommended Practices (RPs) for retreading and repairing through the Tire Retread & Repair Information Bureau (TRIB) website. The RPs are free to view on TRIB’s website, www.retread.org.
Tire sales at Monro Muffler Brake Inc.'s comparable stores fell 11% in the fourth quarter of fiscal year 2017, capping off a year of lower tire sales in those same stores.
As a kid growing up in Wilmington, Del., I played Little League Baseball. My neighbor, Nat Shockley, the barber, sponsored my team, the Delpark Colts.
CUVs are on the verge of running passenger cars off the road in America. Tire makers insist it’s not a matter of if it will happen. It’s when. And it signals good news for tire dealers, says Drew Howlett, product manager for light truck and SUV tires at Falken Tire Corp.
Tire Discounters Inc. continues to make a splash in Tennessee. The Ohio-based tire retailer is opening its 11th store in the Greater Nashville, Tenn. area.
Registration is open for the Tire Industry Association's pre-show events on Oct. 30 at the Global Tire Expo/Specialty Equipment Market Association (SEMA) Show.