Sumitomo Rubber Industries Posts Big 1Q Increases

Sumitomo Rubber Industries (SRI) achieved a 566% operating profit gain during the first quarter of 2021 compared to operating profit posted during 1Q 2020.

The company also achieved a year-over-year 112% increase in sales during the first three months of 2021.

SRI's tire sales rose by 110% 1Q 2021 versus 1Q 2020 and the firm's business profit attributable to tires climbed 559% versus 1Q 2020 levels.

In North America, the company achieved 1Q 2021 sales of 42.5 billion yen compared to 37.4 billion yen posted during the same period in 2020.