Current Issue

PREMIUM CONTENT FOR SUBSCRIBERS ONLY

Industry News Management Products Suppliers

Yokohama Anticipates 'Stronger Than Expected' Rebound

Order Reprints
Yoko car

Yokohama has revised its full-year 2020 projections based on optimism that the market will recover more robustly than originally anticipated.

Yokohama Rubber Co. Ltd. expects to see a “stronger than expected recovery” and is revising its full-year sales and income projections as a result.

During the first three months of 2020, Yokohama experienced a 74.5% decline in operating profit and a 16.2% drop in sales revenue.

The Tokyo, Japan-based company also reports that sales and “business profit” in its tire segment declined from the same period last year.

“In original equipment tires, sales revenue declined on account of a sharp decline in demand during the first two quarters,” say Yokohama officials.

“That decline offset a modest recovery in Japanese demand, following a fiscal first half downturn caused by the COVID-19 pandemic and a recovery in demand in China and elsewhere.”

Overall, the drops that Yokohama experienced during the first three quarters of 2020 “reflected the first half impact of the COVID-19 pandemic on demand,” but “masked a sales upturn” in replacement tires.

 

Related Articles

Toyo Sees 'Earlier Than Expected' Recovery

Hankook Posts Big Rebound During Third Quarter

3Q Sales, Profit Gains Drive 'Strong Rebound' for Cooper

You must login or register in order to post a comment.