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    5110   JP3404200002

SUMITOMO RUBBER INDUSTRIES, LTD.

(5110)
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Delayed Japan Exchange  -  01:00 2022-12-01 am EST
1180.00 JPY   -0.67%
11/10Sumitomo Rubber Halves Year-end Dividend as Nine-month Profit Drops 31% on Higher Freight Costs, Raw Material Prices
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11/10Japanese shares fall on sell-off after disappointing forecasts by heavyweights
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Sumitomo Rubber Industries : Group Achieves Shift to 100% Renewable Energy to Meet the Electric Power Needs of Tire Factories in China

01/18/2022 | 02:25am EST
Sumitomo Rubber Group Achieves Shift to 100% Renewable Energy to Meet the Electric Power Needs of Tire Factories in China

Jan. 18. 2022

Sumitomo Rubber Industries, Ltd. is pleased to announce that, as part of our ongoing efforts to contribute to the realization of a carbon-free society, the Sumitomo Rubber Group's two tire factories in the People's Republic of China (Changshu Factory and Hunan Factory) completed the transition to purchasing 100% of their electric power from renewable energy sources in January of 2022.
In addition, with further plans to install solar power generators from the second half of the year, these two factories are now slated to reduce their total annual (2022) CO2 emissions from tire manufacturing processes by an estimated 70% compared to their 2021 emissions levels.


In December of 2020, the Sumitomo Rubber Group promulgated "Our Philosophy," a new Corporate Philosophy Framework that emphasizes engaging in sustainable business activities while coexisting in harmony with society and with the natural environment. It is our hope that Our Philosophy will serve as a major driving force to accelerate strategic groupwide efforts to realize these ideals. Then, in August of 2021, we announced "Driving Our Future Challenge 2050*," a new Long-Term Sustainability Policy based on our Philosophy, pledging to reduce total CO2 emissions at all of our group factories worldwide by 50% (compared with 2017 emissions levels) by the year 2030 and then to achieve full carbon neutrality by the year 2050. Moving forward, the Sumitomo Rubber Group is committed to working toward solutions to social and environmental issues throughout our business activities so that we may contribute to the development of a sustainable society.

Company Name
Location
Representative
Start of Operations
Business Operations
Production Capacity
No. of Employees
: Sumitomo Rubber (Changshu) Co., Ltd.
: Changshu Economic Development Zone (Jiangsu Province)
: Mr. Eiichi Masuda (Chairman & CEO)
: 2004
: Manufacture & Sale of Passenger Car Tires & Tire Molds
: 7,200 Tons/Month (New Rubber Consumption as of December 2020)
: 1,958 (as of December 2020)

Company Name
Location
Representative
Start of Operations
Business Operations
Production Capacity
No. of Employees
: Sumitomo Rubber (Hunan) Co., Ltd.
: Changsha City (Hunan Province)
: Eiichi Masuda (Chairman)
: 2012
: Manufacture & Sale of Passenger Car Tires
: 2,950 Tons/Month(New Rubber Consumption as of December 2020)
: 1,149 (as of December 2020)


*Sumitomo Rubber Establishes Long-Term Sustainability Policy: "Driving Our Future Challenge 2050"
(News Release Issued August 5, 2021): https://www.srigroup.co.jp/english/newsrelease/2021/sri/2021_060.html

Disclaimer

SRI - Sumitomo Rubber Industries Ltd. published this content on 18 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 January 2022 07:24:05 UTC.


ę Publicnow 2022
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Sales 2022 1 113 B 7 985 M 7 985 M
Net income 2022 22 260 M 160 M 160 M
Net Debt 2022 194 B 1 391 M 1 391 M
P/E ratio 2022 13,6x
Yield 2022 3,51%
Capitalization 312 B 2 242 M 2 242 M
EV / Sales 2022 0,46x
EV / Sales 2023 0,43x
Nbr of Employees 40 055
Free-Float 67,5%
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Last Close Price 1 188,00 JPY
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Satoru Yamamoto Managing Executive Officer
Ikuji Ikeda Director & Managing Executive Officer
Kiyoshige Muraoka Executive Officer & GM-Materials Development
Keizo Kosaka Independent Non-Executive Outside Director
Kenji Murakami Independent Non-Executive Outside Director
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