Yokohama Rubber Lowers Annual Projections a Second Time

Projected sales and earnings for the fiscal year ending March 31, 2009 will be lower than previously announced, Yokohama Rubber has stated. Company management now projects consolidated net sales of 520.0 billion yen (£3.

7 billion), down 5.7 per cent from the previous fiscal year; consolidated operating income of 11.5 billion yen (£82.

1 million), down 65.3 per cent; and a consolidated net loss of 8.0 billion yen (£57.

1 million), down from a consolidated net profit of 21.1 billion yen in the previous fiscal year. The revised projection for net sales is 0.

6 per cent lower than the projection Yokohama announced on January 21; the projection for operating income 17.9 per cent lower; and the projected net loss is 1.0 billion yen (£7.