Yokohama Rubber Co. Ltd. posted a 132.4% year-over-year operating profit gain in 2021. The company also grew its sales by 21.7% versus 2020 levels.
"The upturns in sales revenue and earnings reflected Yokohama's success in implementing price increases for tires in North America and other overseas markets," plus other factors, according to Yokohama officials.
Yokohama's OE tire sales increased "as the adverse effects of the COVID-19 pandemic abated somewhat. Yokohama also posted sales growth in replacement tires."
The company's Alliance Tire Group division also achieved record sales and profits during 2021.
Yokohama management predicts that sales will grow by nearly 12% in 2022.
