Sumitomo Rubber Industries Ltd. plans to reform its group structure in July, spinning off operations other than tire manufacturing and merging the parent firm and two units, Ohtsu Tire & Rubber and Dunlop Japan Ltd. (Corporate, financial news).Sumitomo Rubber Industries Sumitomo Rubber Industries, Ltd. (住友ゴム工業株式会社 Ltd. plans to reform its group structure in July July: see month. , spinning off operations other than tire manufacturing and merging the parent firm and two units, Ohtsu Tire & Rubber and Dunlop Japan Ltd. The planned absorption of Ohtsu, Japan's fifth-largest tire maker, into third-largest Sumitomo Rubber is said to boost the company's market position as Japan's second-largest tire maker, ahead of Yokohama Rubber in terms of output volume. Bridgestone is the largest Japanese tire maker and the merger will leave its position unaffected. Under a business reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. , Sumitomo Rubber will first spin off its two operations, one producing sport goods and the other making a variety of industrial rubber products, before merging with Ohtsu, which will be dissolved dis·solve v. dis·solved, dis·solv·ing, dis·solves v.tr. 1. To cause to pass into solution: dissolve salt in water. 2. . |
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