Sumitomo Rubber parent cuts profit forecast for full year

ERJ staff report (DS)

Kobe, Japan -- Sumitomo Rubber Industries has cut its profit forecast for the year - for its Japanese parent company only. No data was released for consolidated profits.

SRI said it now expects operating profit for the year to be Yen 7000 million, instead of yen 11 000 million previously forecast. The company said this will only have a limited impact on net profit. That is expected to be Yen 16 000 million, down from a previous forecast of Yen 17 000 million.

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Press release from SRI