Yokohama lowers fiscal forecast again

Tire Business staff report

Tokyo – Yokohama Rubber Co. Ltd. (YRC) has again lowered its sales and earnings projections for the fiscal year ending 31 March, citing a “worse than expected” deterioration in world demand.

YRC expects its net loss to hit $82 million (Euro 61 million), or roughly 12.5 percent worse than the loss projected in late January. By contrast, YRC reported $185 million in net income in fiscal 2008.

Operating income is projected at $118 million or 18 percent lower than the late January…

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