Yokohama sales and income down over a third, but outlook ‘unchanged’
The Yokohama Rubber Co., Ltd., has reported first quarter net sales of 127.7 billion yen a 5.6 per cent decline compared with the same period in the previous year. Operating income was worse, down 18.1 per cent, to 7.6 billion yen. Meanwhile net income was down 35.7 per cent to 5.6 billion yen. According to the company, the downturn in sales and earnings resulted chiefly from weakening sales of tyres in the Japanese original equipment market and in Yokohama's principal markets overseas.