The board of Yokohama Rubber Co. Ltd. has announced several changes to the company’s senior management, including the promotion of Gota Matsuo to chief financial officer. These changes are expected to take effect on 28 March. The tyre and rubber products manufacturer also shares that former chief executive officer Tadanobu Nagumo will retire as chairman and member of the board at this time; he will continue to work with Yokohama Rubber in the capacity of senior advisor. Nagumo’s successor as chairman has yet to be announced.
The Yokohama Rubber Co. Ltd. posted an 8.3 per cent increase in business profit (a measure basically equivalent to operating income and calculated as sales revenue less the sum of cost of sales and selling, general and administrative expenses) to 11.7 billion yen (£78.6 million), and a 27.5 per cent increase in operating profit to 14.1 billion yen (£94.8 million) in the first quarter of 2018. The company’s sales revenue in the three months to 31 March 2018 increased 2.3 per cent to 149.2 billion yen (£1.0 billion), the highest sales total ever reported by Yokohama Rubber.
For the sixth consecutive year, Yokohama Rubber Co. Ltd. has earned Caterpillar’s premier supplier award, Platinum Level Recertification in its Supplier Quality Excellence Process (SQEP). The award went to Yokohama’s factory in Onomichi, Japan, which produces original equipment and replacement off-the-road tyres for a wide range of equipment.
The Yokohama A008P was the first Yokohama Rubber tyre to gain OEM approval from Porsche. Shortly after its launch in 1989, the A008P was selected as an original equipment fitment on the Porsche 911 type 964. This initial Porsche homologation was a significant moment for Yokohama Rubber, and the Japanese manufacturer thus considers the A008P the product that “paved the way for Porsche’s steady use of Yokohama brand tyres.” Now it’s back – Yokohama Rubber announced the return of the Yokohama A008P at a press conference during this year’s Geneva Motor Show.
Although Yokohama Rubber clocked up a fourth consecutive year of record sales in 2015, operating income and net income declined year-on-year as falling vehicle production affected the company’s original equipment business in Japan and both escalating price competition and a mild winter hit the country’s replacement market business. Yokohama’s net sales rose 0.7 per cent to 629.9 billion yen (£3.9 billion) in 2015, while operating income declined 7.7 per cent to 54.5 billion yen (£334.6 million) and net income dropped 10.4 per cent to 36.3 billion yen (£222.9 million).
A ceremony held on 20 January marked the official opening of Yokohama Rubber’s new winter tyre testing facility in Japan. The ribbon on the Tire Test Center of Hokkaido (TTCH) was cut by a number of dignitaries, including Yokohama Rubber president Hikomitsu Noji and Masahito Nishikawa, mayor of host city Asahikawa.
The Yokohama Rubber Co., Ltd. has announced that Shigeo Komatsu will take on new management responsibilities, effective 15 May 2015. Shigeo Komatsu, who is currently director and managing corporate officer, head of Global Procurement Div., in charge of Corporate Finance & Accounting Dept., president of Yokohamagomu Finance Co., Ltd; adds president of Yokohama Rubber Singapore […]