Yokohama reports sharp decline in results amid slowdown

Tokyo – Yokohama Rubber Co. Ltd has posted sharp declines in its first three quarter results, with operating income dropping 38.0% to Yen18.9 billion (€163 million), on a 7.5% decline in net sales, to Yen410.2 billion.

The company linked the performance to the appreciation of yen as well as “weakening demand and declining prices” in Yokohama’s main markets.

Earnings were further hit by the first-time inclusion of the fiscal results of Alliance Tire Group BV, which Yokohama acquired in July 2016.

Operating income in Yokohama’s tire segment fell…

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