Yokohama Reports Increased Earnings
The Yokohama Rubber Co Ltd posted a 10.7 per cent increase in operating income, to 4.8 billion yen, in the interim fiscal period ended 30 September. The increase is attributed to a 6.1 per cent increase in net sales, to 201.3 billion yen. Furthermore the company reports that growth in unit sales of tyres and progress in reducing costs more than offset increases in raw-material costs. Leading the sales growth were gains in Yokohama’s tyre operations in North America and in Europe. The company also registered growth in sales of tires in Japan. A decline in income taxes was the chief reason for a 12.6 billion yen increase in net income, to 13.4 billion yen.