Yokohama Rubber Co. posted record figures for net sales, operating income and net income in fiscal year 2012, ended Dec. 31, 2012.
2012 net income increased 187.3% over the previous year to 32.6 billion yen, on an 85.7% increase in operating income, to 49.7 billion yen, and a 0.3% increase in net sales, to 559.7 billion yen.
The results reflect “strong growth in sales of tires to automakers in Japan, a business recovery in industrial products, success in securing market acceptance for price increases, a decline in raw material costs, continuing progress in reducing costs, and the weakening of the yen toward the end of the year,” the company noted.
In Yokohama’s tire operations, operating income increased 91.9%, to 43.4 billion yen, despite a 0.6% decline in sales, to 444.6 billion yen.
Operating income in Yokohama’s industrial products business increased 104.6%, to 5.1 billion yen, on a 6.1% increase in sales, to 91.9 billion yen.
Yokohama’s fiscal projections for 2013 call for another year of record sales and earnings. The company projects net income will reach 36.0 billion yen on operating income of 59.0 billion yen and net sales of 630.0 billion yen.
