TOKYO (May 5, 2010)—Tokai Rubber Industries Ltd. has revised upwards its projections for the 12 months to the end of March 2010.
The company said sales would be a little higher than previously forecast but that profits would improve substantially. Tokai said recovery in the automotive sector, combined with overall cost reduction activities, were behind the improved forecasts.
Tokai now says sales in the 12 months will be $2.5 billion, compared with last year's sales of $2.9 billion and a previous forecast of $2.4 billion.
Operating profits are now expected to be $113 million, up from last year's result of $64 million and a further improvement over the previous forecast of $74 million.