Yokohama announces financial results
Yokohama Rubber Co. Ltd. achieved net sales of 305.9 billion yen during the first three quarters (April 1-Dec. 31, 2004) of its 2005 fiscal year, a 3% increase over the same period the previous year.
"This reflected strong tire sales, particularly overseas, which offset the impact of a high yen," say Yokohama officials.
They describe overseas sales as "solid, especially in North America, Asia and Europe, while sales of replacement tires grew in Japan."
Yokohama's Tire Group sales grew 4.3% to 226 billion yen, while the unit's operating income jumped 16.8% to 17.1 billion yen.
The Tokyo, Japan-based company's ordinary income rose 4.6% over previous corresponding levels to 16 billion yen. However, its net income fell 6.9% to 8.1 billion yen and its operating income dropped to 17.5 billion yen due to high raw material and administrative costs, among other factors.