Yokohama sales, profits up in FY2011
During the 2011 fiscal year, which in Japan began on April 1, 2010, net sales at Yokohama Rubber increased 11.4 per cent year-on-year to 519.7 billion yen (£3.9 billion); leading this sales growth were tyres and hose, sealant and adhesive products, and the company reports it “reinforced its sales momentum” through successfully implementing price increases that offset the effect of rising raw material costs and the appreciation of the yen. Operating income increased 37.5 per cent to 29.5 billion yen (£223.0 million) and net income grew 21.2 per cent to 13.9 billion yen (£105.1 million).
Sales generated through Yokohama’s tyre operations increased 12.0 per cent to 411.6 billion yen (£3.1 billion), 79.2 per cent of the company total, and operating income rose 20.9 per cent to 25.0 billion yen (£189.0 million). Sales growth for replacement market tyres outpaced overall growth in demand and tyre sales increased both in the domestic market and internationally; in Japan, products aimed at improving fuel efficiency were especially well received, while in overseas markets the greatest growth was witnessed in the US and China.
Yokohama Rubber intends to change its fiscal year to a January – December year. Therefore, this year the company will have a nine-month financial year starting on April 1, 2011 and ending December 31. The company projects net sales of 471.0 billion yen (£3.6 billion), operating income of 21.0 billion (£158.8 million) and net income of 11.0 billion (£83.2 million) in the nine-month fiscal period.