YRC posts sharp income, revenue drops for 2016

Tokyo – Yokohama Rubber Co. Ltd. (YRC) suffered a 22.4% drop in operating income for the fiscal year ended 31 Dec on a 5.3% decline in sales.

The Japanese tire maker cited “adverse conditions” in overseas tire markets, including the appreciation of the yen and declining prices, for the earnings decline.

Operating income slid to $398.4 million (€377 million), while sales dropped to $5.61 billion despite the addition of six months of revenue from Alliance Tire Group. The operating ratio dropped one and a half points to…

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