SUMITOMO Rubber Industries Ltd. has reported sales and earnings slipped for the first quarter ended March 31.
Operating income fell 6.5% to US$162.3 million in the first quarter. Sales also hit low at 1.8% to US$1.78 billion. Net income dropped 11% to US$97.5 million.
The Japan-headquartered company’s tyre segment operating income also fell 2% to US$149.3 million on 2.2-percent lower sales of US$1.54 billion.