Yokohama maintains projections for fiscal year
Yokohama Rubber Co. Ltd. is projecting net income of seven billion yen for its full fiscal year, which ends on March 31. Last year, the Tokyo, Japan-based company lost 5.7 billion yen.
Yokohama also projects that its operating income will increase nearly 33% to 17 billion yen for its present fiscal year. However, it expects net sales to decline 10.1% to approximately 465 billion yen.
Earlier this month, Yokohama reported that it posted net income of nine billion yen for the first three quarters of its current fiscal year vs. 222 million yen during the same prior-year period.