Yokohama revises profit forecast upwards

ERJ staff report (DS)

Tokyo-The Yokohama Rubber Co., Ltd. said its losses in the 12 months to March 31, 2009, will be smaller than the projections announced a month ago. Management now projects consolidated operating income of 13.0 billion yen (Euro 103 million), down 60.7% from the previous fiscal year; and a consolidated net loss of 5.5 billion yen (euro 44 million), down from a consolidated net profit of 21.1 billion yen in the previous fiscal year; on consolidated net sales of 517.0 billion (euro 4113 million), down 6.2% from the previous year.

The revised projection for operating income 13.0 percent higher, the revised projection for net loss 31.3 percent smaller, and the revised projection for net sales 0.6 percent lower than the projections announced on March 24.

The company said it has been more successful than expected in reducing selling expenses and its foreign currency assets had been affected by favourable exchange rate movements.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Press release from Yokohama Rubber