TOKYO (Aug. 10, 2004) — Yokohama Rubber Co. Ltd. reported a 7.5-percent jump in overall net sales as revenue in the Tire Group rose 8.6 percent for the first quarter ended June 30.
Yokohama's sales grew to $821.9 million in the quarter. Operating income was up 11.8 percent to $29.7 million, and net income rose 59.3 percent to $8.9 million.
In the Tire Group, sales hit $599.9 million as operating income increased 34.2 percent to $29.6 million. Yokohama said tire group sales were favorable mainly in Europe, Asia and North America.
For the first half of the fiscal year ending Sept. 30, Yokohama expects sales to rise 2.2 percent from the previous year while net income is expected to fall 66.4 percent.