Yokohama Rubber reports revaluation loss

ERJ staff report (RD)

Tokyo - The Yokohama Rubber Co. Ltd., has reported a loss of 2.9 billion yen (Euro 21.5 million) following the revaluation of investment securities in fiscal 2009, the company said 1 April.

The company said it is analyzing the loss in the context of Yokohama's overall financial performance and will determine whether the loss will mean a revision of financial projections.

In March Yokohama revised its sales and earnings projections and predicted net loss to hit Euro 61 million, or roughly 12.5 percent worse than the loss it predicted in late January.

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Press release from Yokohama Rubber Co.