ERJ staff report (BC)
Tokyo – The Yokohama Rubber Co. has announced record figures for net sales, for operating income, and for net income in fiscal 2012 (January to December 2012).
Net income increased by 187.3 percent over the previous year, to 32.6 billion yen, on an 85.7 percent increase in operating income to 49.7 billion yen, and a 0.3 percent increase in net sales to 559.7 billion yen.
The company bettered its projections of 30.0 billion yen for net income and 49.0 billion yen for operating income, though the total for net sales was lower than the company's projection of 576.0 billion yen.
(Yokohama cautions that 2012 was its first 12-month fiscal period since it shifted to calendar-year accounting in 2011, so year-on-year comparisons are estimated rather than formal.)
The company attributes “historic” sales and earnings performance to strong growth in tires for Japanese automakers, a business recovery in industrial products, success in securing market acceptance for price increases, a decline in raw material costs, continuing progress in reducing costs, and the weakening of the yen toward the end of the year.
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