TOKYO (Nov. 9, 2007) — Yokohama Rubber Co. Ltd.'s operating income rose 3.7 times over the same period last year for the six months ended Sept. 30.
Sales growth outside of Japan offset higher raw materials and logistics costs, aiding the firm's boost.
Operating income rose to $105 million on 13.9-percent higher sales of $2.2 billion. Net income rose to $113 million versus $29.3 million in the 2006 period. Yokohama credited higher selling prices and the weakening yen for aiding the increases.
The firm's tire group reported a jump in operating income to $78.2 million—from $10 million in 2006—on 16.2-percent higher sales of $1.64 billion. The sales growth came primarily from overseas, Yokohama said, including a 20.6-percent rise in North American sales to $492 million.