TOKYO (Oct. 26, 2004) — Yokohama Rubber Co. Ltd. has raised its earnings and revenue forecasts for the first half of fiscal 2005, citing higher tire sales domestically and abroad.
Yokohama raised its ordinary (pre-tax) and net income forecasts 50 and 40 percent, respectively—to $28.1 million and $6.6 million—for the six months ended Sept. 30. First half sales should come in at $1.77 billion, or 1.6 percent higher than previously projected.
The revised forecast puts ordinary income ahead of the fiscal 2004 pace but still leaves net earnings shy of last year's performance, the company said.
The higher earnings would raise the ordinary and net profit/sales ratio to 1.6 and 0.4 percent, respectively.
Yokohama will release its first half results and full-year forecast Nov. 11.