Sales and earnings up at Yokohama Rubber in first nine months

Thursday, February 3, 2011

Tokyo - Yokohama Rubber announced that its sales and earnings increased in the first three quarters of the present fiscal year, the nine months ended December 31, 2010. Net sales increased 13.5% over the same period of the previous fiscal year, to 390.4 billion yen; operating income increased 52.2%, to 26.3 billion yen; and net income increased 25.2%, to 11.3 billion yen. Yokohama posted sales gains in tires and in high-pressure hoses, sealants, and other diversified products. The sales growth more than compensated for the adverse effect on earnings of rising prices for raw materials and the appreciation of the yen. Also contributing to improved profitability were a rise in capacity utilization rates and progress in trimming costs.

In Yokohama’s tire operations, sales increased 13.7%, to 310.2 billion yen, and operating income rose 37.4%, to 23.2 billion yen. Sales in Yokohama’s industrial products operations increased 18.2%, to 62.4 billion, and operating income rose 36.1-fold, to 2.1 billion yen. Business in those operations centers on high-pressure hoses, sealants and adhesives, conveyor belts, anti-seismic rubber-and-steel fittings for structures, marine hoses, and marine fenders. Leading the sales growth were strong gains in high-pressure hoses for construction equipment and in automotive window sealants.

(Source: http://www.rubberworld.com/news.asp#16112)