Yokohama net income fell 99 percent in first nine months

ERJ staff report (DS)

Tokyo – The Yokohama Rubber Co., Ltd., said operating income in the nine months to December 2008 declined 43.8 percent from the same period of the previous year, to 17.3 billion yen (euro 148.5 million), on a 0.2% increase in net sales, to 410.6 billion yen (euro 3525 million). Net income declined 99.1%, to 222 million yen.

Sales growth in Yokohama’s Tire Group offset a decline in the Multiple (diversified) Business Group. Profitability suffered from the rise in raw material costs…

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