Yokohama Rubber Announces Consolidated Semiannual Results

The Yokohama Rubber Co., Ltd., announced its consolidated results for the first half of fiscal 2004.

The high value of the yen and sluggishness in the market for replacement tyres in Japan led to an overall decline in Yokohama’s tyre sales, but sales of hydraulic hoses and golf products increased. Sales of the tyre group amounted to 960.3 million Euro, a 0.

8 per cent slide, and operating income decreased 27.5 per cent, to 15.1 million Euro.

Demand in the Japanese market fell considerably, as both unit- and value-based sales of replacement tyres contracted. Sales of tyres on an original equipment basis were basically unchanged. Reflecting the current operating environment and these results, in fiscal 2004 Yokohama forecasts consolidated net sales of 3.

02 billion Euro, a 0.1 per cent decrease, and net income of 75.6 million Euro, a 1.