Yokohama dials back 2018 forecast

Tokyo – Yokohama Rubber Co. Ltd. has revised downward its earnings outlook for fiscal 2018 despite reporting a double-digit gain in “business profit” for the first nine months of the fiscal year.

Yokohama cited “weaker-than-expected” sales in the tires segment in China, Russia and the Middle East, weaker-than-expected sales of construction sealants and an asset impairment charge related to its US truck tire plant as reasons for the downgrade.

While the revisions are below earlier forecasts, the company’s projected sales and operating earnings will still exceed the…

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