Yokohama Achieves Record First Quarter Sales
Yokohama Rubber Co. Ltd. posted a 28.4% year-over-year sales increase during the first three months of 2022, an all-time first quarter high for the company.
The gain "reflected success in securing price increases in North America and other markets," among other factors, according to Yokohama officials.
"In replacement tires, sales revenue rose overall," including sales in North America.
And the company "posted solid growth in off-highway tires for agricultural machinery, industrial machinery and other applications."
However, Yokohama experienced a 63.5% profit decline during 1Q 2022 versus the same period in 2021.
The Tokyo, Japan-based company is maintaining its original full-year projections.