NAGOYA, Japan (July 3)—Tokai Rubber Industries Ltd., parent of DTR Industries Inc. in the U.S., reported record sales and operating earnings for the fiscal year ended March 31. Net income, however, fell 19 percent from the year earlier because of one-time charges related to retirement accounts, the company said. Tokai's operating profits jumped 26 percent to $140.7 million, while sales rose 10 percent to $1.54 billion. Rubber products made up 73.9 percent of sales; plastic products constituting the rest, Tokai said. Net earnings slipped to $48.1 million, or 3.1 percent of sales. For its part, DTR Industries reported a 13.1-percent sales increase last year to $225 million.
Tokai Rubber posts record sales, operating earnings
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