Yokohama Rubber’s sales were down 5.6% year on year to JPY127.7bn (US$1.26bn) in the first quarter of the year (to 31 March 2013). Operating income fell 18.1% to JPY7.6bn and net income plunged 35.7% to JPY5.6bn.
In tyre operations, sales declined 6.6% to JPY100.1bn and operating income was down 27.6% to JPY5.7bn.
Go deeper with GlobalData
Industrial products sales fell 2.7% to JPY22.1bn but operating income increased 21.6% to JPY1.5bn. The decline in sales reflected weakening Japanese demand for automotive sealants and for sealants for electronic and electrical equipment, the supplier said. But it posted gains in overseas sales of automotive hoses and sealants.
Yokohama forecast H1 sales up 9.7% to JPY295bn, operating income up 0.5% to JPY20bn, and net income off 5.1% to JPY13bn.
Full year sales are seen rising 12.6% to JPY630bn, operating income 18.7% to JPY59bn and net income up 10.4% to JPY36bn.
This is because Yokohama expects a strong recovery in overseas tyre sales in the second half.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
