Yokohama Rubber Co. Ltd. reported revenue of $1.88 billion during the first three months of 2025, a first quarter record for the company.
However, the Tokyo, Japan-based company’s operating profit dropped by 27.7% on a year-over-year basis to $132.3 million.
Yokohama officials attribute the drop to “one-time costs related to the acquisition and consolidation of Goodyear’s OTR tire business,” a $905 million deal that closed in February.
“Otherwise, profit from existing businesses was strong” as the company benefited from “increased sales volume for (its) consumer tires, mainly in overseas markets, and continued expansion of sales of high value-added Advan, Geolandar and winter tires, as well as high-inch tires.”
North America activity
Various Yokohama businesses in the North American market rolled out new products and made big announcements during the first quarter of 2025.
In April, Yokohama Tire Corp. announced it would increase consumer and commercial tire prices by up to 10% on May 1 in response to an “unparalleled rise in costs associated with materials and finished goods.”
Around the same time, Yokohama TWS announced its renewed commitment to the Mitas ag tire brand via continued investment in the firm’s Mitas ag tire plant in Charles City, Iowa. (The Yokohama TWS Trelleborg ag tire plant in Spartanburg, S.C., closed at the end of March.)
During the first quarter, YTC announced top-level organizational changes. Jeff Barna, president and CEO of YTC, was also named president and CEO of Yokohama Corporation of North America (YCNA), a role that oversees Yokohama Canada and Yokohama Mexico.
Shinichi Takimoto, who had served as chairman and CEO of YCNA for the past nine years, assumed the roles of head of Yokohama’s Japan Tire Business division and head of OE tire sales and marketing for Yokohama Rubber.
It also was announced that YTC Chief Operating Officer Stan Chandgie will serve in the same role for YCNA, adding responsibility for both Canada and Mexico.
All three changes were effective on March 28.
In late-February, YTC unveiled two new medium truck tires, the 116R and the BluEarth 718L.
Full-year forecast
Yokohama Rubber’s full-year forecast remains unchanged. Yokohama management projects an 11.4% increase in sales and a 10.8% increase in operating profit.
