Yokohama revises six-month forecast
Yokohama Rubber Co. Ltd. has revised its forecasts for the first half of fiscal 2006 (April 1, 2005, to Sept. 30, 2005), based on its recent performance trends.
The new first-half forecasts are as follows:
* net sales of 200 billion yen, a 2.3% increase over the initial forecast;
* net income of 13 billion yen, an 8.3% increase.
* ordinary profit of 3.5 billion yen, a 133.3% increase.
Yokohama's previous forecasts were publicized Aug. 9, 2005, when the company announced net income of 1.5 billion yen on net sales of 96.2 billion yen for the first quarter ended June 30.
"These upward revisions reflect an increase in volume of sales in our overseas tire business, profit improvements in North America, and the weaker-than-expected foreign exchange rate of yen, which brought the forecast for ordinary profit to surpass the previous one," says the company.
Yokohama will report its forecasts for the entire fiscal year (ending March 31, 2006) when it releases its first-half results.