TOKYO (Feb. 10)—Yokohama Rubber Co. Ltd.'s operating income jumped 19.1 percent in the first nine months of fiscal 2006, as sales growth, cost-cutting measures and the weakening of the yen against the dollar more than offset increases in raw-material costs.
Yokohama projects full-year operating income will exceed that in fiscal 2005 by 9.8 percent to about $200 million, while sales are expected to climb 6.5 percent to $3.76 billion.
For the nine months ended Dec. 31, Yokohama posted operating income of $177.1 million. Sales were up 9.1 percent to $2.86 billion, largely on improved sales by the firm's tire units in North America and Europe and by the multiple business unit worldwide, Yokohama said.
Operating income grew 7.2 percent in the tire group to $156 million on a 10-percent increase in sales to $2.1 billion.