Yokohama raises earnings projections

ERJ staff report (DS)

Tokyo - The Yokohama Rubber Co., Ltd., has raised its projections for consolidated net sales and earnings for the six-months to September 30, 2010. They update projections announced by Yokohama on July 30, 2010, when the company released its business and financial results for the fiscal year ended March 31, 2010. The improved outlook for earnings reflects accelerated progress in trimming costs, as well as the increased sales forecast.

Yokohama now projects it will break even int he period, compared with a net loss of 3.9 billion yen. Management expects the company to post operating income of 6300 million yen (euro 55.7 million), compared with an operating loss of 400 million yen in the first half of the previous fiscal year.

Yokohama's projections call for net sales to increase 18.3 percent over the same period of the previous fiscal year, to 239.0 billion yen. The projection for net income is a 1.4 billion yen improvement over the projection announced on July 30, 2010. Yokohama has raised the projection for operating income 57.5% and the projection for net sales 0.4%. The company will announce its full-year fiscal projections on November 1, 2010, when it will release its interim business and financial results

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Press release from Yokohama