Tokai Rubber raises mid-year forecasts

ERJ staff report (DS)

Tokyo -- Tokai Rubber Industries Ltd has revised upwards its sales and earnings forecasts for the 6 months to September 2009, following improved sales.

The company now says sales will reach Yen 100 130 million (Euro 731 million) rather than yen 94 000 milllion. The company said its losses will be considerably lower, predicting an operating loss for the half year of yen 260 million, rather than yen 4000 million.

In the same period last year, the Tokai reported sales of yen 155 695 million and operating income of Yen 9441 million.

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Press release from Tokai (Japanese language)

Press release from Tokai (Auto-translated into English from Japanese)

Reuters report