TOKYO (April 25, 2008) — Yokohama Rubber Co. Ltd. has revised upward its sales and operating earnings projections for the fiscal year ended March 31 but said net income would be nearly 8 percent lower than projected earlier because of the strengthening of the yen.
Yokohama said it is revising its revenue projection upward by nearly 2 percent, to $4.7 billion, on stronger-than-expected sales in markets outside Japan. The newly revised figure represents a 10.6-percent improvement over fiscal 2007 sales.
Operating income is projected to hit nearly $280 million, a 3.1-percent improvement over the November 2007 forecast and 56 percent better than the fiscal 2007 figure.
Net income should come in at about $178 million, which would be 28 percent better than the 2007 net result but lower than the November forecast.