YRC No. 2 to take YTC helm

TOKYO (April 2, 2013) — Yokohama Rubber Co. Ltd. (YRC) has named Hikomitsu Noji, president of Tokyo-based YRC, to be president and CEO of Yokohama Tire Corp. and CEO of Yokohama Corp. of North America, replacing Yasushi Tanaka, who's returning to Japan as assistant to the president of YRC's tire business.

Mr. Noji, 53 and a 21-year YRC veteran, has been president and representative director of YRC since June 2011. Other assignments have included chief director of global tire production, manger of the Mishima, Japan, plant, and president of Yokohama Tire Philippines Inc.

He will continue to be based in Tokyo, YTC said. YRC did not name Mr. Noji's successor.

Commenting on the moves, YRC Chairman and CEO Tadanobu Nagumo said, "Yokohama is fully committed to investing resources in the North American marketplace, and we are confident that this vital market will be served most effectively with the key management structure we have put in place."

Mr. Tanaka leaves YTC after just 10 monthsas the top executive in North America. He was named managing corporate officer and CEO of YTC and CEO of Yokohama Corp. of America and Yokohama Corp. of North America in June 2012.

Prior to that, Mr. Tanaka was corporate officer in charge of YRC's corporate planning department, secretariat, GD100 Promotion Department. He also is in his 21st year with the tire maker.

In his new capacity, Mr. Tanaka will oversee YRC's global plans on new plant constructions and expansions involving existing plants.

In addition, YRC said YTC Chief Operating Officer Takayuki Hamaya will be in charge of YTC's day-to-day operations including strategy development, corporate planning and driving YTC's business performance.

Yokohama also recently named former YTC President and CEO Norio Karashima to be executive adviser to YTC management at the company's Fullerton, Calif., headquarters, effective April 1.

"Mr. Karashima has a deep understanding of YRC's long-term plans, goals and capabilities at the highest level," Mr. Tanaka said at the time.

"Coupled with his extensive knowledge of the market and the dealer network in the U.S., he is in a unique position to advise our executive management team and make the strategies we have put together that much stronger in steadily growing our sales."