Sales, earnings up solidly in fiscal first quarter at Yokohama Rubber

qiangzi

Monday, May 14, 2012

Tokyo, Japan - Yokohama Rubber announced that its net sales in the three months from January 1 to March 31 increased 7.4 percent over the same period of the previous year, to 135.3 billion yen; operating income increased 403.3 percent, to 9.3 billion yen; and net income increased 389.7 percent, to 8.8 billion yen. Yokohama shifted its fiscal accounting to a calendar-year basis in 2011, from the previous April-to-March basis. The first-quarter sales growth reflected strong gains in sales of tires to automakers in Japan and progress in raising prices for tires and other products in Japan and overseas. Sales in Yokohama’s tire operations increased 10.5 percent, to 107.2 billion yen, and operating income increased more than 20-fold, to 7.9 billion yen. Yokohama posted sales growth of 1.3 percent in industrial products, to 22.7 billion yen, and operating income increased 18.5 percent, to 1.2 billion yen. Those products center on high-pressure hoses, sealants and adhesives, conveyor belts, antiseismic products, marine hoses and pneumatic marine fenders. Sales were strong in Japan and overseas in high-pressure hoses for automobiles and in automotive sealants. Yokohama also posted sales growth in marine hoses, reflecting the worldwide boom in resources development.