Yokohama Rubber posts record sales and earnings in 2024

Hiratsuka, Japan—The Yokohama Rubber Co., Ltd., announced its business and financial results for fiscal 2024 (January to December 2024). Sales revenue increased 11.1% over the previous year, to \1,094.7 billion, exceeding ¥1 trillion for the first time ever. In addition, the Company achieved record highs in all profit categories, with business profit rising to \134.4 billion, up 35.6% year on year; operating profit reaching \119.2 billion, up 18.7%; and profit attributable to owners of parent at \74.9 billion, up 11.4%. Business profit margin also rose to a record high of 12.3%.

The strong year-on-year growth in Group business profit reflects successful efforts to increase sales volume, realize more optimal product prices, and expand sales of consumer tires with sizes of 18-inches or larger. These efforts were supplemented by a full-year contribution from Y-TWS and the positive forex impact from the yen’s depreciation.

Management projects that full-year sales and earnings will again attain record-high levels in fiscal 2025. Its projections call for an 11.4% increase in sales revenue, to \1,220.0 billion; a 2.7% increase in business profit, to \138.0 billion; a 10.8% increase in operating profit, to \132.0 billion; and an 8.8% increase in profit attributable to owners of parent, to \81.5 billion. Management plans to pay an interim dividend of \48 and to recommend a year-end dividend of \54. The resultant annual dividend of \102 would represent the fifth consecutive increase in the annual dividend.