Yokohama profits halved, tire unit reports major declines

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Tokyo – The Yokohama Rubber Co. (YRC) has reported a 50.1% year-on-year decline in first quarter business profit at Yen5.8 billion (€47 million) on 0.2% higher sales of Yen149.5 billion.

In the tires segment, sales revenue for the first three months of the year fell 3.9% to Yen100 billion, due in part to a decline in sales volumes, Yokohama reported 14 May.

Segment profit dropped 81.6% to Yen1.4 billion, due to lower volumes and an increase in production costs associated with reduced production.

Read the source article at European Rubber Journal