Yokohama Rubber reports income, sales increases
Yokohama Rubber Co. Ltd.'s net income for its fiscal year, which ended March 31, 2003, totaled a record 10 million yen, a 37.8% increase over previous year results.
Yokohama's operating income for the year grew 2.1% to 23.1 million yen, while its net sales reached 400 million yen.
Sales for the company's Tire Group rose 1% to 286.9 million yen, while its operating income increased 10.8% to 17.2 million yen.
Yokohama officials say the Tokyo, Japan-based tiremaker "pursued aggressive marketing of original equipment tires during the year to take advantage of rising domestic auto production, thus boosting sales volumes and value from the previous term."
The company's Fullerton, Calif.-based subsidiary, Yokohama Tire Corp., "greatly enhanced its revenues and earnings by bolstering its distribution efficiency and its financial position."