JAPAN: Ohtsu Tyre, Sumitomo Rubber to restructure
Ohtsu Tire & Rubber Co have unveiled a restructuring plan which will result in back-office functions integrated with parent company Sumitomo Rubber Industries Ltd and a reduced workforce, Kyodo News reported. The tyre producer will post a 2.5 billion yen net loss in its interim settlement in December after taking a charge for losses in stocks of its sales subsidiary, the report added.
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