Yokohama Rubber Co. Ltd. has lowered its sales and income projections for its fiscal year, which ends March 31, 2009.
Yokohama now projects net sales of 523 billion yen, down 5.2% from the previous fiscal year, and operating income of 14 billion yen, a 57.7% drop.
The Tokyo, Japan-based tire manufacturer also expects to absorb a net loss of $7 billion yen.
"Slumping demand associated with the global economic downturn" and unexpected currency fluctuations made the revisions necessary, say Yokohama officials.
