28 Jul 2017
Tokyo - The Yokohama Rubber Co. (YRC) has announced upward revisions in its projections for interim sales and earnings in the first half of 2017, ended 30 June.
In a 28 July Yokohama raised its projection for net sales 3.3%, to Yen310.0 billion (€2.4 billion) and its projection for operating income 28.6%, to Yen18.0 billion compared to figures offered earlier in February.
According to the Japanese tire and rubber company, key contributors to the upward revisions were strong sales in the Japanese replacement tire market, Chinese and Russian tire markets and the weakening of the yen.
The positive factors, said YRC, “more than offset” the negative impact of increasing raw materials prices.
Yokohama also added that it is reviewing its full year projections, considering the trends, raw material prices and currency exchange rates.
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
Already a subscriber? Log in here
