First-half 2014 results a record for Yokohama Rubber
Yokohama Rubber Co., Ltd. reports that its net sales, operating income and net income reached record first-half highs in the first half of the 2014 financial year. Net income climbed 38.4 per cent over the same period of the previous year to 18.0 billion yen (£104.9 million), on a 23.8 per cent increase in operating income to 23.6 billion yen (£137.6 million), and a 5.3 per cent increase in net sales to 283.9 billion yen (£1.7 billion). Underlying this performance was a strong sales growth in the company’s tyre business, both in Japan and internationally, along with gains in a number of other business areas. Earnings in each segment benefited additionally from a downward trend in raw material prices and from the weakening of the yen.