Yokohama's H1 net profit rises 19.2% y/y to USD161 million

Japanese tire-maker reaffirms full-year financial outlook

Yokohama Rubber’s net income increased 19.2% year-over-year (y/y) to JPY17.83 billion in first half ended 30 June 2018, the Japan-based tire company said in a press release today (10 August). The company also recorded 32.3% y/y growth in operating profit to JPY26.4 billion. Yokohama reported strong growth in earnings in first six months of the financial year, as sales revenue increased 1.8% y/y to JPY209.7 billion . The company reported 9% y/y increase in business profit, which is sales revenue minus cost of sales and selling, general and administrative expenses, to JPY23.8 billion.