Yokohama achieves record annual sales
Yokohama Rubber Co. Ltd.'s net sales rose 10% to 497.4 billion yen, a record for the company, during its 2007 fiscal year, which ended March 31.
"Sales increased in Yokohama's Tire Group (11%) and in its Multiple Business (diversified products) Group," say company officials.
However, Yokohama's operating income declined 4% to 21.1 billion yen "as raw material costs outpaced the increase in net sales."
Meanwhile, Yokohama's net income dropped 23.7% versus previous year levels to 16.4 billion yen.