Yokohama names Karashima to succeed Ikawa

May 13, 2004

Koji Ikawa will step down as CEO and president of Yokohama Tire Corp. (YTC) On June 29, 2004. He will be replaced by Norio Karashima, pending shareholder approval.

Karashima, 51, most recently served as general manager of the OE tire Planning Department at Yokohama's parent, Yokohama Rubber Co. Ltd. He also will be promoted to the newly created position of corporate officer of Yokohama Rubber.

Ikawa, 63, also will resign as managing director of Yokohama Rubber. He will remain in the United States as chairman of YTC.

"I strongly requested to Yokohama Rubber Co. to seek out the best successor to me for Yokohama Tire Corp.," says Ikawa. "I am very happy with their choice of Mr. Karashima. I will be here to fully support him and work with him to lead this organization to our mutual goals -- a consistent, stable, profitable company."