TOKYO (April 28. 2009)—Yokohama Rubber Co. Ltd. said its losses in the 12 months to March 31 will be smaller than the projections announced a month ago.
Management now believes consolidated operating income will be $134.7 million, down 60.7 percent from the previous fiscal year, with a consolidated net loss of about $57 million, compared with consolidated net profits $218.6 million in the previous fiscal year. Sales are expected to fall 6.2 percent $5.4 billion.
The new projection shows a 13-percent improvement in the operating loss, 31.3 percent for the net loss and a 0.6-percent decline in sales from the forecast issued on March 24.