KOBE, Japan (Aug. 30, 2006) — Sumitomo Rubber Industries Ltd.'s operating income fell 10.4 percent in the first half of 2006, while sales rose 10.4 percent to $2.21 billion.
Net income fell 84 percent during the period to $16.7 million, while operating income slipped to $160.3 million.
Sumitomo did not comment on the results, published Aug. 29 in Japan, or offer any outlook for the remainder of the year.
The company's tire division reported 21.5-percent lower operating income of $100 million on 11.5-percent higher sales of $1.7 billion.
Sales in North America rose 18.5 percent to $286.9 million. Sumitomo's tire brands are represented in North America by Treadways Corp. and Falken Tire Corp.