Expanding our business in the major markets of Europe and North America is one of the most important themes of our ongoing efforts to enhance our group’s overall profitability in overseas markets.Toward enhancing our profitability in Europe and North America, the Sumitomo Rubber Group is actively working to increase sales in these two key regions, and our FALKEN brand is playing a central role in these efforts.
At the same time, we are also pushing forward with efforts to expand our Industrial & Other Products Business in Europe and North America, particularly in the field of fine rubber parts for medical applications. Having acquired Lonstroff AG, a Swiss company that manufactures and sells fine rubber parts for medical applications and does much of its business with major European pharmaceutical manufacturers, in 2015, we have since been working to expand this business in Europe and throughout the world, most notably with the establishment of a brand-new factory in Slovenia in 2019.
The Sumitomo Rubber Group is actively engaged in an aggressive campaign to increase sales of tires bearing our global FALKEN brand in Europe and North America. This campaign involves not only introducing new products that match the needs of these markets, but also various promotional efforts undertaken throughout the world, including sponsorin the famed 24 Hours Nürburgring race. Thanks to these efforts, we are now making sure and steady progress in enhancing the presence and value of the FALKEN brand in markets throughout Europe, North America and beyond.