Sales Up, Earnings Down at Yokohama Rubber

(Akron/Tire Review) Yokohama Rubber Co. today reported that its most recent quarterly net sales increased 10.5 per cent over the same period last year, while its net income plummeted 74.8 per cent for the same period. Yokohama said it had quarterly sales of 222.4 billion yen, and that the sales increase was due to business growth in North America and Asia, including increased OE tyre business. Sales increased 11.5 per cent in Yokohama’s Tire Group to 162.5 billion yen. Operating income in the Tire Group declined 69.7 per cent, to 1.1 billion yen, reflecting the rising prices for natural rubber and other raw materials.