Yokohama Rubber Company Limited has announced upward revisions

Time: Jul 31th 2017   Copy editor: Tyrefull

The Yokohama Rubber Company Limited has announced upward revisions in its projections for interim sales and earnings. These revisions pertain to the company’s financial performance in the first half (January to June) of 2017 and are in reference to earlier projections announced on February 20.

Yokohama has raised its projection for net sales 3.3 per cent, to 310.0 billion yen; for operating income 28.6 per cent, to 18.0 billion yen; for profit attributable to owners of parent 46.7 per cent, to 11.0 billion yen. The upward revisions are on account of strong sales in the Japanese replacement market for tires and in the Chinese and Russian tyre markets and of the weakening of the yen. Those positive factors more than offset the adverse effects of upward movement in raw material prices.

In regard to the full fiscal year, Yokohama is reviewing its projections in consideration of such variables as trends in demand, raw material prices, and currency exchange rates. The company will announce any revisions in its full-year projections if and when management deems such revisions to be appropriate, the company said.

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