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Yokohama Rubber will hike prices on exports

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Yokohama Rubber Co. Ltd. will increase prices on its tire exports on January 2010.

The price increase applies to all passenger, light truck, truck and OTR tires exported from Japan.

"The maximum markup is around 15%," says the company, "but even larger (markups) may be applied to specific regions and products."

Yokohama says the price increases are necessary because "it is difficult to absorb the increased cost of tire raw materials, including natural rubber and crude oil, only by corporate efforts based on internal improvement."

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