ERJ staff report (LMH)
Tokyo - Tokai Rubber Industries' sales for the six months ended 30 Sept 2011 have dropped by 12.8 percent to Yen 113.2 billion (Euro 1 billion). Operating income was down 41.6 percent at Yen 4.52 billion, the Japanese company said in its 28 Oct results report.
Tokai revised its full year sales forecast from Yen 260 billion to Yen 250 billion yen. Operating income has been revised downwards to Yen 15 billion from Yen 18 billion.
Tokai attributed the results to the difficulties caused by the 11 March earthquake in Japan, as well as power shortages and the appreciation of the yen.
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Report from Tokei Rubber Industries - autotranslated from Japanese