Yokohama Grew Sales, Profit During First Half
Yokohama Rubber Co. Ltd. posted a 28.8% year-over-year sales increase and a 5.3% year-over-year gain in "business profit" during the first half of 2022.
"First half sales revenue and business profit in Yokohama Rubber's Tires segment increased over the same period of the previous year," say Yokohama officials.
"Sales revenue in original equipment tires increased, supported by Yokohama Rubber's success in winning new (fitments) in North America and China," despite the impact of supply chain problems and COVID-19 lockdowns in China.
On the replacement side, Yokohama achieved passenger and light truck tire sales gains, including increases in North America.
The Tokyo, Japan-based company also posted "solid growth in off-highway tires for agricultural machinery, industrial machinery and other applications" during the first six months of 2022.