Tokyo – Yokohama Rubber Co. Ltd. (YRC) reported higher earnings and record sales for fiscal 2017.
Operating income rose 22.7% to Yen51.9 billion (€393 million) million on 12.1% better sales of Yen668.0 billion, increasing the operating ratio three-fourths of a point to 7.8%.
Net income jumped 87.5% to Yen35.2 billion.
YRC did not elaborate on specific reasons for its earnings improvements. Most of its major competitors reported earnings declines for the same period because of elevated raw materials costs.
Yokohama’s tire segment reported 10.3% improved operating income of Yen40.0…