Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Best Places to Work
    • Rubber Division IEC
    • War in Ukraine
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • ITEC
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • Airless Tires
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • Ask the Expert
    • Healthcare Elastomers Conference
    • Rubber In Automotive Conference
    • Women Breaking the Mold Networking Forum
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
February 22, 2017 01:00 AM

Yokohama fiscal 2016 sales, income down

Tire Business Report
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    TOKYO—Yokohama Rubber Co. Ltd. suffered a 22.4 percent drop in operating income for the fiscal year ended Dec. 31 on a 5.3 percent decline in sales.

    The Japanese tire maker cited "adverse conditions" in overseas tire markets, including the appreciation of the yen and declining prices, for the earnings decline.

    Operating income slid to $398.4 million, while sales dropped to $5.61 billion despite the addition of six months of revenue from Alliance Tire Group. The operating ratio dropped one and a half points to 7.1 percent.

    Net income fell 48.3 percent to $177 million.

    Yokohama's tires segment reported a 15.6 percent drop in operating income to $341.9 million, while sales fell 10 percent to $4.24 billion. YRC blamed the drops on the appreciation of the yen and escalating price competition, even though unit volume increased.

    Unit volume was flat in North America but increased in Europe, partly due to Yokohama's progress in cultivating new sales channels, and in the Chinese OE market.

    Sales in the ATG segment totaled $240 million, consistent with management's projections regarding unit volume and sales value. The segment's performance reflected vigorous measures for promoting sales amid slumping demand and escalating price competition associated with a decline in grain prices.

    Yokohama recorded an operating loss of $19.8 million for the ATG segment, a result that reflects the inclusion of acquisition-related expenses under selling, general and administrative expenses and the amortization of goodwill.

    Yokohama's projections for fiscal 2017 call for net income to rise nearly 60 percent, a 12.2 percent increase in operating income and a 10.7 percent rise in sales.

    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    EV owners: OE tires falling drastically short of treadwear expectations
    2
    80 years later, PPG silicas still driving tire performance
    3
    Michelin reaches deal to sell Russian operations
    4
    Bolder, Liberty Tire collaboration sets stage for more circular industry
    5
    VMI outlines tire technology upgrades for efficient, sustainable manufacturing
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • News
      • Best Places to Work
      • Rubber Division IEC
      • War in Ukraine
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • ITEC
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • Airless Tires
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • Healthcare Elastomers Conference
        • Rubber In Automotive Conference
        • Women Breaking the Mold Networking Forum
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
      • Ask the Expert
    • Advertise
    • DIGITAL EDITION