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Profit in yen rises 32% for Sumitomo Rubber

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Sumitomo Rubber Industries Ltd. recorded net income of 28.4 billion yen on net sales of 676.9 billion yen for its fiscal year ended Dec. 31, 2011. That compares to income of 21.4 billion yen on sales of 604.5 billion yen for the same period last year.

Based on the exchange rate on Dec. 31, 2011, Sumitomo posted net income of $366.7 million on sales of $8.7 billion for fiscal 2011. The company's income-to-sales ratio was 4.2%.

Sumitomo's operating income of 53.9 billion yen was up 13.3% compared to the same period in 2010.

Net tire sales were up 15%, from 513.8 billion yen to 591 billion yen. Tire sales accounted for 87.3% of Sumitomo's total sales. That compares to 85% in 2010.

Operating income for the tire segment of the business was up nearly 24%, to 48.8 billion yen.

To compare Sumitomo's previous results from last year with the current numbers, click on the links below.

3Q: "Net sales rise, income falls for Sumitomo."

1H: "Sumitomo posts 1H profit of $110 million."

1Q: "Sumitomo posts higher sales, lower profit."

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