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Sumitomo Rubber Industries SWOT & PESTLE Analysis

ID : 52760453| Sep 2020| 11 pages

COMPANY PROFILE -Sumitomo Rubber Industries

Business Sector :Tires and Sports

Operating Geography :Japan, Asia, Global

About Sumitomo Rubber Industries :

Sumitomo Rubber Industries Ltd. operates as a global tire and rubber company in Japan. The company primarily manufactures motorcycle and automobile tires, sports equipment and industrial rubber products. Its diverse portfolio includes tennis rackets, golf balls, rubber gloves and artificial turf. Sumitomo Rubber is headquartered in Kobe, Japan and it employs a workforce of approximately 39233 people as of 2020. The company traces its roots back to 1909, after Sumitomo Group invested in Dunlop Japan. Both parties developed strategic partnerships and in 1963, Sumitomo Group acquired Dunlop Japan and renamed it Sumitomo Rubber Industries Ltd. Sumitomo Rubber retails its products under the Dunlop brand globally. The company has also collaborated with Goodyear Tire & Rubber to promote Goodyear brands in Japan whilst Goodyear markets its Dunlop brand tires in North America and Europe. Sumitomo has initiated minor operations such as SRI Sports which designs golf and tennis gear and SRI Hybrid that markets industrial wares such as rubber components for office automation equipment. Sumitomo recently bagged the KZN Exporter of the Year Award 2019 for the second consecutive year. The company received the prestigious award at the Inkosi Albert Luthuli International Convention Centre in Durban.
Sumitomo Rubber Industries’ unique selling proposition or USP lies in being Japan’s third-largest automobile tire producer. Sumitomo Rubber’s mission statement reads, “Our mission is to become the most reliable manufacturer. SRI will accomplish this by continued focus on our customers striving for continuous improvement, and exhibiting the highest commitment to safety, communication and team work.”

Sumitomo Rubber Industries Revenue :


JPY 893.3 billion – FY ended 31st December 2019 (y-o-y increase of (-) 0.1%)
JPY 894.2 billion – FY ended 31st December 2018

Competitive Analysis of Sumitomo Rubber Industries

SWOT
PESTLE
The SWOT analysis for Sumitomo Rubber Industries is presented below in a table followed by the detailed analysis report.
StrengthsWeaknesses
1. Strong portfolio of rubber-based products of well recognized and respected brands
2. Proactive engagement in R&D activities for greater value creation
3. Powerful history of business contributions with aid of proprietary rubber technology
4. Robust value chain supporting sustainable growth
1. Decreasing profitability over the last few years
OpportunitiesThreats
1. Global expansion of systems for new business development
2. Building upon the global R&D network as well as supplier and customer bases
3. Growing demand for next-generation electric vehicles
4. Developing & promoting sales of advanced products
1. Contraction in Japanese population leading to shrinking golf and tennis markets
2. Market dynamics getting affected by jump in raw material prices
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Detailed SWOT Analysis of Sumitomo Rubber Industries

Strength

1. Strong portfolio of rubber-based products of well recognized and respected brands: Sumitomo Rubber Industries Ltd has made strong commitments in its three areas of business, namely tires, sports and industrial products. For its tire business, employing state-of-the-art technologies, Sumitomo develops tires for passenger cars, trucks, buses and motorcycles under the globally renowned brands of DUNLOP and FALKEN. Since the commercialization of the first pneumatic tire, the brand DUNLOP has received recognition across the world with its 130 years of history. Under the sports segment, Sumitomo offers three global brands, namely “XXIO,” “SRIXON” and “Cleveland Golf”. The company aims to expand into other businesses across geographies, particularly Europe & the Americas by leveraging the presence and brand value of its robust brand portfolio.

2. Proactive engagement in R&D activities for greater value creation: The Sumitomo Rubber Group engages proactively in research and development activities, keeping in mind the ambitious targets of creating greater value. As a result of these research efforts, the Group capitalizes on a number of intellectual properties with the help of its self-established structures. Moreover, by closely collaborating with its affiliates and subsidiaries from all over the world, and keeping the R&D organization and facilities in its core, Sumitomo conducts its research activities in all of its business areas including tire, sports, industrial and other products businesses. In the year of 2018, Sumitomo recorded investments equivalent to 2.9% of consolidated sales revenue, that is, 25.8 billion yen as the total R&D expenses incurred. Also, the group has been actively involved in the development of new products such as vibration control units using high damping rubber, and rubber parts for medical applications and office equipment.

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

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Opportunity

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Threats

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Major Competitors :

  • Hankook Tire
  • Kuhmo Tire
  • Toyo Tire
  • Nokian Tyres
  • Coteroute
  • BFGoodrich
  • Nittotire
  • JVD Custom Works Online
  • Wheel Source
  • Goodyear

Major Brands :

  • Dunlop Tires
  • Falken Tire
  • Cleveland Golf
  • Srixon
  • Ohtsu Tire
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Check Out Analysis of Other Relevant Companies

TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Sumitomo Rubber Industries Analysis Report

1. Sumitomo says Trump tariffs could threaten WNY expansion - https://buffalonews.com/news/local/sumitomo-says-trump-tariffs-could- threaten-wny-expansion/article_ef214c20-41f8-54ef-b8d7--a6b2a64e9c75.html
2. Sumitomo Rubber Group Report 2019 - https://www.srigroup.co.jp/english/sustainability/dvql4p000000f222-att/2019_csr_e_GroupReport.pdf
3. Financial Highlights - https://www.srigroup.co.jp/english/ir/highlight.html
4. The golf market of Japan is shrinking! - https://piece-of-japan.com/investing/golf/market-share.html
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SWOT & PESTLE.com (2020). Sumitomo Rubber Industries SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/sumitomo-rubber/ [Accessed 27 Nov, 2020].

In-text: (SWOT & PESTLE.com, 2020)

Copyrights and Disclaimer

Sumitomo Rubber Industries SWOT and PESTLE analysis has been conducted by Anindya Anindita and reviewed by senior analysts from Barakaat Consulting.

Copyright of Sumitomo Rubber Industries SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

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Sumitomo Rubber Industries SWOT & PESTLE Analysis
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