Yokohama H1 earnings drop on flat sales

Tokyo — Yokohama Rubber Co. Ltd.’s operating and net income fell during the six months ended 30 June due to increased manufacturing and logistics costs and the negative effects of lower unit sales volume.

Sales revenue grew 0.5% during the period as higher revenue in the firm’s industrial rubber products and ATG off-road tire unit offset lower revenue in the tire business unit, Yokohama reported 8 Aug.

Business profit declined 27.5% to $156.4 million (€140 million) on sales of $2.83 billion. Operating profit was off 4.7% to…

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