Yokohama says 2014 net income rose 15.7% to JPY40.5bn (US$340m), while net sales increased 3.9% to JPY625bn.

The supplier said its sales and earnings performance reflected growth in the tyre business in the original equipment market in Japan and sales gains in markets overseas, as well as growth in industrial products and other products, led by gains in high-pressure hoses, sealants and adhesives.

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Earnings benefited from a decline in raw material costs and from the weakening of the yen, as well as from sales growth.