Yokohama Posts Record Sales and Earnings in 2012

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.

The Goodyear Tire & Rubber Company has named Ryan Waldron as president of the company's Americas business unit, reporting to Chief Executive Officer and President Mark Stewart. He succeeds Steven R. McClellan, who retired on April 1.

"At Goodyear, our customers are at the center of everything we do, and in Ryan Waldron, we have a customer-centric, execution-focused business leader with a deep understanding of both the marketplace and all aspects of our business, as well as a proven track record of delivering results," Stewart said. "I am thrilled to announce him as president of Goodyear's Americas business and have enormous confidence that under his leadership, both the company and our customers will reach even greater levels of success."