Notice Regarding the Transfer of Fixed Assets by a Consolidated Subsidiary
Oct. 14. 2025
Sumitomo Rubber Industries, Ltd. announces that Sumitomo Rubber USA, LLC (“SRUSA”), a consolidated subsidiary of the company, signed an Asset Purchase Agreement with Hwa Fong Rubber Ind. Co., Ltd. and its subsidiary Hwa Fong Rubber (USA), Inc. on October 13th, 2025. Under this agreement, certain remaining fixed assets of SRUSA will be transferred to Hwa Fong. The transaction is scheduled to be completed within this year.
This transaction is part of a series of restructuring measures announced on November 7, 2024, regarding the termination of production and dissolution of a consolidated subsidiary, as well as the recognition of related expenses. The impact of this asset sale on the company’s consolidated financial results is expected to be minimal.
Under the current mid-term plan, the company has positioned the period through 2025 as a phase for “selection and concentration” of existing businesses. The company will continue to allocate and utilize resources toward growth businesses to ensure the future development of the Group.
Research and development and sales activities in the North American market will continue to be carried out primarily by SRI America, Inc. and Sumitomo Rubber North America, Inc.
■Overview of Hwa Fong Rubber Ind. Co., Ltd.
Year Founded : 1945 (Incorporated: May, 1959)
Headquarters : Changhua County, Taiwan
Capital: TWD 2.79 billion
Core Business: Manufacturing and sales of tires
Net Sales: TWD 4.94 billion (FY2024)
Number of Employees : 2,398 (As of May, 2025)
This transaction is part of a series of restructuring measures announced on November 7, 2024, regarding the termination of production and dissolution of a consolidated subsidiary, as well as the recognition of related expenses. The impact of this asset sale on the company’s consolidated financial results is expected to be minimal.
Under the current mid-term plan, the company has positioned the period through 2025 as a phase for “selection and concentration” of existing businesses. The company will continue to allocate and utilize resources toward growth businesses to ensure the future development of the Group.
Research and development and sales activities in the North American market will continue to be carried out primarily by SRI America, Inc. and Sumitomo Rubber North America, Inc.
■Overview of Hwa Fong Rubber Ind. Co., Ltd.
Year Founded : 1945 (Incorporated: May, 1959)
Headquarters : Changhua County, Taiwan
Capital: TWD 2.79 billion
Core Business: Manufacturing and sales of tires
Net Sales: TWD 4.94 billion (FY2024)
Number of Employees : 2,398 (As of May, 2025)