Sumitomo Rubber Industries is raising the bar. Now, under the dynamic leadership of newly-minted President and CEO Satoru Yamamoto, the company is poised to further strengthen its competitive position against US competitors Michelin and Bridgestone. In a recent briefing in Tokyo, Yamamoto provided details of the company’s ambitious roadmap. He highlighted just how essential structural reform and growth strategies are to improving the business bottom line.
During his presentation, Yamamoto focused on how the company is committed to making changes. He said these initiatives are directly about improving efficiencies and growing into new markets. He stated, “Up to now, we have been steadfastly working on structural reform, growth strategies and recovering business performance.” Sumitomo Rubber is deeply committed to continually improving operational efficiencies. This commitment is especially important now as the company seeks to take a bite out of the global tire market.
Yamamoto’s remarks reflect a shift in the company’s approach as it looks to transition from recovery to a more aggressive expansion strategy. He asserted, “We want to take an offensive stance from here on out.” This announcement underscores Sumitomo Rubber’s continued determination to recapture that lost ground. They’re unprepared to pursue any new growth avenues with reckless abandon in an industry characterized by cut throat competition.
This briefing in Tokyo comes at an important time. Meanwhile, the international tire sector has been hobbled by unpredictable raw material prices and shifting consumer trends. By doubling down on its strategic pillars of ride and handling qualities, Sumitomo Rubber seeks to make itself more competitive against longer-tenured rivals.