TOKYO (Feb. 13, 2008) — Improved profitability at its North American operations helped Yokohama Rubber Co. Ltd. achieve large gains in net and operating income on an 11.4-percent rise in sales for the first nine months of is fiscal year.
The Japanese company reported net profits of $218.2 million and operating income of $261.3 million, increases of 88.1 and 80.2 percent, respectively. Sales for the period hit $3.48 billion.
Yokohama said its operating income in North America jumped 134.5 percent to $46 million on 15.3-percent higher sales of $706.1 million, yielding an earnings ratio of 6.5 percent.
Yokohama also attributed the improved earnings to the higher sales, which more than offset the adverse earnings impact of rising raw materials, logistics and administrative costs.