Yokohama Rubber posts 'record' results for first three quarters

Hiratsuka, Japan – Yokohama Rubber Co. (YRC) has reported record results for the first three quarters of the year, the Japanese group announced 14 Nov.

Earnings (business profit) for the nine-month period came in at Yen83.4 billion (€512 million), up 70% year-on-year, on 13% higher sales at Yen783 billion.

In addition, the earnings margin, at 10.7%, was “the highest ever for the first three quarters,” said YRC.

The group linked the growth to stronger volumes, higher pricing, and improved product-mix.

Furthermore, a full contribution from Yokohama Trelleborg Wheel Systems (Y-TWS) over the entire period and a depreciation of the yen helped increase earnings.

Overall, YRC reported Yen701 billion revenue within its tires business during the period, up 14.5% year-on-year.

The tire sales included contributions of Yen106 billion and Yen115 billion from Yokohama off-highway tires and Y-TWS respectively.

Segment earnings were up 76% year-over-year at Yen79 billion, the group reported.

YRC’s ‘multiple business’ rubber products unit posted 17.5% increase in nine-month earnings to Yen5.1 billion, on 2.7% higher sales at Yen75 billion.