Tokyo – Yokohama Rubber Co. Ltd has reported another “record-level” performance in fiscal year 2014 (January to December 2014) for the third consecutive year, registering a rise of 4.3 percent in operating income and 3.9 percent in sales.
“The strong sales and earnings performance reflected robust growth in tire business in the original equipment market in Japan and vigorous sales gains in markets overseas,” said a company announcement on 13 Feb.
Net income at Yokohama in 2014 increased 15.7 percent over the previous year, to 40.5 billion yen (€300 million), on a 4.3 percent increase in operating income, to 59.1 billion yen, and a 3.9 percent increase in net sales, to 625.3 billion yen.
Earnings, said the company, benefited from a decline in raw material costs and from the weakening of the yen, as well as from the sales growth.
Operating income in Yokohama’s tire operations increased 5.6 percent, to 48.6 billion yen, on sales growth of 3.8 percent, to 497.6 billion yen.
Yokohama’s industrial products business’ operating income declined 1.4 percent, to 7.6 billion yen, on a 4.7 percent increase in sales, to 101.5 billion yen.
The business consists mainly of high-pressure hoses, sealants and adhesives, conveyor belts, anti-seismic products, marine hoses, and marine fenders.
Yokohama posted strong growth in sales of high-pressure hoses for construction equipment in addition to strong sales in conveyor belts and in marine hoses.