During the 2011 fiscal year, net sales at Yokohama Rubber Corp. increased 11.4% year-on-year to 519.7 billion yen.
Leading this sales growth were tires and hose, sealant and adhesive products, and the company reports it "reinforced its sales momentum" through successfully implementing price increases that offset the effect of rising raw material costs and the appreciation of the yen. Operating income increased 37.5% to 29.5 billion yen and net income grew 21.2% to 13.9 billion yen.
Sales generated through Yokohama’s tire operations increased 12% to 411.6 billion yen, 79.2% of the company total, and operating income rose 20.9% to 25 billion yen. Sales growth for replacement market tires outpaced overall growth in demand and tire sales increased both in the domestic market and internationally. In Japan, products aimed at improving fuel efficiency were especially well received, while in overseas markets the greatest growth was witnessed in the U.S. and China.
Yokohama intends to change its fiscal year to a January-December year. Therefore, this year the company will have a nine-month financial year starting on April 1 and ending Dec. 31. The company projects net sales of 471 billion yen, operating income of 21 billion and net income of 11 billion in the nine-month fiscal period. (Tyres & Accessories)