The Yokohama Rubber Co., Ltd. Reports Earnings Results for the Nine Months Ended September 30, 2019; Revises Earnings Guidance for the Full-Year 2019
November 11, 2019
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The Yokohama Rubber Co. Ltd. reported earnings results for the nine months ended September 30, 2019. For the period, the company reported sales revenue of JPY 465,739 million against JPY 460,835 million a year ago. Operating profit was JPY 33,361 million against JPY 26,953 million a year ago. Profit attributable to owners of parent was JPY 28,311 million against JPY 16,265 million a year ago. Basic earnings per share were JPY 176.48 against JPY 101.42 a year ago.
The company also revised earnings guidance for the full-year 2019. For the period, the company now projects that profit attributable to owners of parent will increase 17.9%, to JPY 42.0 billion, on a 7.5% increase in operating profit, to JPY 57.5 billion; a 15.6% decline in business profit, to JPY 50.0 billion; and essentially no change in sales revenue, at JPY 650.0 billion. Compared with the earlier projections, these projections are 8.7% lower for profit attributable to owners of parent, 11.5% lower for operating profit, 13.0% lower for business profit, and 1.5% lower for sales revenue.
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. 
