Yokohama Tire Corp. will break even in 2003, says parent company

Aug. 28, 2002

Yokohama Rubber Co. Ltd. expects its Yokohama Tire Corp. (YTC) subsidiary to break even next year.

YTC pared losses from nearly $80 million in 2000 to $19 million last year, Yokohama Rubber officials said in the company's recently published annual report.

YTC will lower its losses to $9 million by the end of 2002, they say.

Yokohama Rubber increased its net sales during the past year to 399.8 million yen vs. 387.8 yen the previous year.

Its net income jumped to 7.3 million yen, while its operating income totaled 22.7 million yen.