Yokohama Rubber says operating income in the fiscal first quarter (January to March) of 2015 was its highest ever, increasing 1% to JPY11.8bn (US$98m) on a 0.9% decline in net sales, to JPY138.7bn.

Net income declined 10.1%, to JPY5.8bn.

The company’s income before income taxes was down 10.4% to JPY9.23bn compared with JPY10.30bn in the year ago period.

In Yokohama’s tyre segment, sales declined in Japan, but sales gains overseas offset most of that decline.

Sales increased, meanwhile, in the company’s multiple business segment, led by growth in high-pressure hoses and in industrial materials.