Yokohama Rubber reports positive third quarter

Hiratsuka, Japan—The Yokohama Rubber Co., Ltd., announced its business and financial results for the first three quarters (January to September) of fiscal 2024. Sales revenue increased 13.1% over the same period of the previous year, to \782.9 billion; business profit increased 69.6%, to \83.4 billion; operating profit increased 63.8%, to \85.8 billion; and profit attributable to owners of parent increased 36.5%, to \60.8 billion. The figures for all those items were record-high figures for performance in the first three quarters at Yokohama Rubber. In addition, the company’s business profit margin, at 10.7%, was the highest ever for the first three quarters.

The strong year-on-year growth in Group business profit reflects successful efforts to increase sales volume, raise product prices, and improve product MIX supplemented by a full contribution from Y-TWS over the entire period and the positive forex impact from the yen’s depreciation.