The Yokohama Rubber Co., Ltd. Announces Earnings Results for the First Quarter Ended March 31, 2016; Provides Earnings Guidance for the First-Half and Full-Year of 2016
May 12, 2016
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The Yokohama Rubber Co. Ltd. announced earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported net sales of JPY 129,344 million against JPY 138,733 million a year ago. Operating income was JPY 6,868 million against JPY 11,834 million a year ago. Income before income taxes and minority interests was JPY 5,607 million against JPY 9,228 million a year ago. Profit attributable to owners of parent was JPY 3,621 million against JPY 5,829 million a year ago. Profit per share attributable to owners of parent was JPY 22.58 against JPY 36.17 a year ago.
The company abides by the first-half and full-year fiscal projections for 2016 that it announced in February 2016. Those projections call for profit attributable to owners of parent to decline 16.8% in the first half, to JPY 13.5 billion, on a 13.1% decline in operating income, to JPY 22.0 billion, and a 1.2% increase in net sales, to JPY 300.0 billion.
For the full year, the company call for profit attributable to owners of parent to decline 6.4%, to JPY 34.0 billion, on 0.9% increase in operating income, to JPY 55.0 billion, and a 3.5% increase in net sales, to JPY 652.0 billion.
The Yokohama Rubber Company, Limited is one of the world's leaders in manufacturing and marketing tires. Net sales break down by activity as follows:
- production of tires (81.3%): for private vehicles, buses, heavy trucks, mining and civil engineering engines, etc.;
- manufacturing of polymer and rubber products (17.3%): high pressure pipes, conveyor belts, seismic products, marine hoses, aircraft products, golf products, etc.;
- other (1.3%).
Net sales break down geographically as follows: Japan (42.2%), Asia (14.6%), North America (26.6%) and other (16.6%).
The Yokohama Rubber Co., Ltd. Announces Earnings Results for the First Quarter Ended March 31, 2016; Provides Earnings Guidance for the First-Half and Full-Year of 2016