Income Statement The Yokohama Rubber Co., Ltd.

Equities

5101

JP3955800002

Tires & Rubber Products

Delayed Japan Exchange Other stock markets 01:30:00 2025-01-10 am EST			5-day change	1st Jan Change
3,266.00 ^JPY	-1.51%		-3.94%	-3.94%

Dec. 30	Yokohama Rubber Completes Treasury Stock Disposal for Restricted Share Compensation	MT
Dec. 24	Yokohama Rubber Company Names Angelo Noronha as President and CEO of Yokohama-ATG, Effective January 1, 2025	CI

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Published financial data: THE YOKOHAMA RUBBER CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	650B	571B	671B	860B	985B
Total Revenues	650B	571B	671B	860B	985B
Cost of Goods Sold, Total	441B	390B	447B	573B	659B
Gross Profit	209B	180B	224B	288B	326B
Selling General & Admin Expenses, Total	159B	143B	161B	218B	227B
Provision for Bad Debts	-	-	-	-	-
Depreciation & Amortization - (IS)	-	-	-	-	-
Other Operating Expenses	-2.99B	955M	-1.5B	876M	-216M
Other Operating Expenses, Total	156B	144B	160B	218B	227B
Operating Income	53.12B	35.84B	63.67B	69.21B	99.34B
Interest Expense, Total	-2.73B	-2.79B	-2.1B	-2.94B	-6.3B
Interest And Investment Income	2.84B	2.63B	3.16B	5.02B	5.24B
Net Interest Expenses	108M	-161M	1.06B	2.08B	-1.06B
Currency Exchange Gains (Loss)	373M	483M	-3.85B	-3.73B	6.92B
Other Non Operating Income (Expenses)	-537M	-381M	-372M	-889M	-615M
EBT, Excl. Unusual Items	53.07B	35.78B	60.5B	66.68B	105B
Restructuring Charges	-	-494M	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	5.87B	1.78B	20.06B	-77M	3.3B
Asset Writedown	-1.18B	-3.16B	4.63B	5.02B	-1.92B
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	57.76B	33.91B	85.2B	71.62B	106B
Income Tax Expense	14.84B	7.06B	25.64B	24.47B	37.54B
Earnings From Continuing Operations	42.93B	26.85B	59.56B	47.15B	68.43B
Earnings Of Discontinued Operations	-	-	6.75B	-	-
Net Income to Company	42.93B	26.85B	66.31B	47.15B	68.43B
Minority Interest	-957M	-540M	-806M	-1.23B	-1.2B
Net Income - (IS)	41.97B	26.31B	65.5B	45.92B	67.23B
Net Income to Common Incl Extra Items	41.97B	26.31B	65.5B	45.92B	67.23B
Net Income to Common Excl. Extra Items	41.97B	26.31B	58.75B	45.92B	67.23B
Per Share Items
Net EPS - Basic	261.62	164.09	408.47	286.38	419.32
Basic EPS - Continuing Operations	261.62	164.09	366.37	286.38	419.32
Basic Weighted Average Shares Outstanding	160M	160M	160M	160M	160M
Net EPS - Diluted	261.62	163.92	407.86	285.8	418.31
Diluted EPS - Continuing Operations	261.62	163.92	365.82	285.8	418.31
Diluted Weighted Average Shares Outstanding	160M	161M	161M	161M	161M
Normalized Basic EPS	200.78	136.11	230.8	252.24	400.23
Normalized Diluted EPS	200.78	135.97	230.45	251.72	399.26
Dividend Per Share	64	64	65	66	84
Payout Ratio	23.71	39.64	15.69	23.09	16.01
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	95.51B	80.31B	109B	119B	159B
EBITA	53.12B	35.84B	63.67B	69.21B	99.34B
EBIT	53.12B	35.84B	63.67B	69.21B	99.34B
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	25.69	20.82	30.1	34.17	35.43
Total Current Taxes	-	-	-	-	-
Total Deferred Taxes	-	-	-	-	-
Normalized Net Income	32.21B	21.83B	37.01B	40.44B	64.17B
Non-Cash Pension Expense	147B	135B	147B	165B	192B
Supplemental Operating Expense Items
Advertising Expense	19.38B	12.35B	9.63B	11.5B	13.75B
Selling and Marketing Expenses	58.66B	47.51B	61.6B	102B	85.96B
Research And Development Expense From Footnotes	15.03B	14.12B	15.3B	16.03B	17.97B
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	27.91B	30.76B	42.52B	75.57B	97.61B
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	27.91B	30.76B	42.52B	75.57B	97.61B
Accounts Receivable, Total	165B	152B	170B	194B	243B
Other Receivables	-	-	-	-	-
Total Receivables	165B	152B	170B	194B	243B
Inventory	124B	113B	153B	216B	250B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	14.02B	13.53B	18.47B	18.27B	27.38B
Total Current Assets	332B	309B	384B	504B	618B
Gross Property Plant And Equipment	-	-	-	-	-
Accumulated Depreciation	-	-	-	-	-
Net Property Plant And Equipment	328B	311B	336B	373B	493B
Long-term Investments	113B	114B	131B	125B	132B
Goodwill	85.43B	80.71B	90.13B	104B	276B
Other Intangibles, Total	42.11B	36.48B	36.09B	37.17B	73.01B
Deferred Tax Assets Long-Term	8.06B	8.92B	7.66B	8.14B	9.14B
Other Long-Term Assets, Total	-1M	0	-1M	-1M	-
Total Assets	908B	860B	985B	1,151B	1,600B
Liabilities
Accounts Payable, Total	75.02B	67.18B	71.94B	78.13B	105B
Accrued Expenses, Total	-	-	-	-	-
Short-term Borrowings	72.19B	52.92B	50.71B	92.88B	46.19B
Current Portion of Long-Term Debt	33.1B	39.11B	30.89B	24.6B	49.94B
Current Portion of Leases	-	-	-	-	-
Current Income Taxes Payable	5.08B	4.7B	9.22B	8.58B	38.08B
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities	65.8B	63.5B	79.74B	90.32B	108B
Total Current Liabilities	251B	227B	243B	295B	348B
Long-Term Debt	135B	116B	95.63B	121B	373B
Long-Term Leases	-	-	-	-	-
Pension & Other Post Retirement Benefits	16.51B	17.26B	16.6B	15.58B	17.71B
Deferred Tax Liability Non Current	38.4B	34.54B	49.93B	48.7B	58.86B
Other Non Current Liabilities	39.21B	42.51B	47.37B	47.94B	53.99B
Total Liabilities	480B	438B	452B	528B	852B
Common Stock, Total	38.91B	38.91B	38.91B	38.91B	38.91B
Additional Paid In Capital	31.05B	31.05B	31.26B	31.31B	31.26B
Retained Earnings	316B	332B	392B	432B	510B
Treasury Stock	-11.98B	-11.83B	-11.76B	-11.65B	-11.59B
Comprehensive Income and Other	44.8B	25.54B	74.95B	124B	171B
Total Common Equity	419B	416B	525B	614B	740B
Minority Interest	8.78B	7.31B	7.65B	8.7B	9.23B
Total Equity	428B	423B	533B	623B	749B
Total Liabilities And Equity	908B	860B	985B	1,151B	1,600B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	160M	161M	161M	161M	161M
ECS Total Common Shares Outstanding	160M	161M	161M	161M	161M
Book Value / Share	2.61K	2.59K	3.27K	3.82K	4.6K
Tangible Book Value	291B	298B	399B	473B	391B
Tangible Book Value Per Share	1.82K	1.86K	2.48K	2.94K	2.43K
Total Debt	240B	208B	177B	239B	469B
Net Debt	212B	177B	135B	163B	372B
Debt Equivalent of Unfunded Proj. Benefit Obligation	8.41B	9.6B	2.06B	2.86B	-5.93B
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	8.78B	7.31B	7.65B	8.7B	9.23B
Account Code - Inventory Valuation	-	-	-	-	-
Inventories - Raw Materials, Total	31.61B	32.27B	45.02B	54.38B	64.09B
Inventories - Work In Process, Total	7.23B	6.19B	7.33B	9.32B	12.18B
Inventories - Finished Goods, Total	85.51B	74.11B	100B	153B	173B
Inventories - Others	1M	-1M	1M	-	-1M
Land - (BS)	-	-	-	-	-
Buildings, Total	-	-	-	-	-
Machinery, Total	-	-	-	-	-
Full Time Employees	27.43K	27.25K	27.22K	28.47K	33.62K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	3B	3.32B	3.16B	3.54B	3.88B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	57.76B	33.91B	85.2B	71.62B	106B
Depreciation & Amortization - CF	42.38B	44.47B	45.56B	49.91B	59.49B
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	42.38B	44.47B	45.56B	49.91B	59.49B
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-5.44B	-1.06B	-19.97B	363M	2.31B
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	-	-
Net Cash From Discontinued Operations	-	-	9.19B	-	-
Other Operating Activities, Total	-16.13B	-11.39B	-12.99B	-28.4B	-24.14B
Change In Accounts Receivable	5.23B	9.21B	-7.39B	-11.73B	-1.17B
Change In Inventories	-4.45B	7.57B	-33.11B	-47.68B	31.64B
Change In Accounts Payable	-9.98B	-13.45B	6.19B	5.98B	-6.19B
Change in Other Net Operating Assets	6B	9.03B	-4.39B	-838M	-8.17B
Cash from Operations	75.37B	78.29B	68.3B	39.23B	160B
Capital Expenditure	-49.52B	-30.8B	-35.93B	-54.38B	-58.25B
Sale of Property, Plant, and Equipment	7.1B	3.65B	21.77B	2.07B	2.97B
Cash Acquisitions	-	-	-	-	-322B
Sale (Purchase) of Intangible assets	-675M	-481M	-370M	-514M	-473M
Investment in Marketable and Equity Securities, Total	43M	-1.1B	-1.06B	9.3B	26.18B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	-584M	869M	11.11B	-2.83B	7.5B
Cash from Investing	-43.64B	-27.86B	-4.48B	-46.36B	-344B
Short Term Debt Issued, Total	42.51B	17M	-	41.46B	-
Long-Term Debt Issued, Total	-	23.28B	6.88B	43.52B	315B
Total Debt Issued	42.51B	23.3B	6.88B	84.98B	315B
Short Term Debt Repaid, Total	-	-17B	-2.16B	-	-48.65B
Long-Term Debt Repaid, Total	-60.89B	-33.27B	-41.81B	-31.49B	-38.89B
Total Debt Repaid	-60.89B	-50.27B	-43.98B	-31.49B	-87.54B
Issuance of Common Stock	-	-	121M	135M	144M
Repurchase of Common Stock	-3M	-11M	-	-	-
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-9.95B	-10.43B	-10.28B	-10.6B	-10.77B
Common & Preferred Stock Dividends Paid	-9.95B	-10.43B	-10.28B	-10.6B	-10.77B
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-7.18B	-9.13B	-7.95B	-7.85B	-10.78B
Cash from Financing	-35.51B	-46.55B	-55.2B	35.17B	206B
Foreign Exchange Rate Adjustments	-60M	-1.03B	3.13B	5B	555M
Miscellaneous Cash Flow Adjustments	-	-	1M	-	-
Net Change in Cash	-3.84B	2.85B	11.76B	33.05B	22.04B
Supplemental Items
Cash Interest Paid	2.76B	2.75B	2.16B	2.89B	6.16B
Cash Income Tax Paid (Refund)	16.1B	11.43B	12.95B	28.44B	24.28B
Levered Free Cash Flow	24.93B	48.47B	10.72B	-34.8B	41.56B
Unlevered Free Cash Flow	26.63B	50.21B	12.03B	-32.96B	45.5B
Change In Net Working Capital	-1.24B	-14.62B	37.02B	71.24B	17.36B
Net Debt Issued / Repaid	-18.38B	-26.98B	-37.09B	53.49B	227B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.77	2.53	4.31	4.05	4.51
Return on Total Capital	5.05	3.45	5.94	5.5	5.97
Return On Equity %	10.6	6.31	12.46	8.16	9.98
Return on Common Equity	10.59	6.31	12.49	8.06	9.93
Margin Analysis
Gross Profit Margin %	32.15	31.58	33.34	33.43	33.07
SG&A Margin	24.45	25.13	24.07	25.29	23.01
EBITDA Margin %	14.68	14.08	16.28	13.84	16.12
EBITA Margin %	8.17	6.28	9.49	8.04	10.08
EBIT Margin %	8.17	6.28	9.49	8.04	10.08
Income From Continuing Operations Margin %	6.6	4.71	8.88	5.48	6.94
Net Income Margin %	6.45	4.61	9.76	5.34	6.82
Net Avail. For Common Margin %	6.45	4.61	8.76	5.34	6.82
Normalized Net Income Margin	4.95	3.83	5.52	4.7	6.51
Levered Free Cash Flow Margin	3.83	8.49	1.6	-4.04	4.22
Unlevered Free Cash Flow Margin	4.09	8.8	1.79	-3.83	4.62
Asset Turnover
Asset Turnover	0.74	0.65	0.73	0.81	0.72
Fixed Assets Turnover	2.12	1.79	2.07	2.43	2.28
Receivables Turnover (Average Receivables)	3.88	3.59	4.16	4.73	4.51
Inventory Turnover (Average Inventory)	3.62	3.3	3.37	3.1	2.83
Short Term Liquidity
Current Ratio	1.32	1.36	1.58	1.71	1.78
Quick Ratio	0.77	0.81	0.88	0.91	0.98
Operating Cash Flow to Current Liabilities	0.3	0.34	0.28	0.13	0.46
Days Sales Outstanding (Average Receivables)	94.07	101.88	87.67	77.12	80.97
Days Outstanding Inventory (Average Inventory)	100.9	111.06	108.26	117.6	129
Average Days Payable Outstanding	65.01	68.73	52.1	43.03	48.31
Cash Conversion Cycle (Average Days)	129.96	144.21	143.83	151.69	161.66
Long Term Solvency
Total Debt/Equity	56.09	49.15	33.25	38.31	62.68
Total Debt / Total Capital	35.93	32.95	24.96	27.7	38.53
LT Debt/Equity	31.47	27.38	17.94	19.45	49.84
Long-Term Debt / Total Capital	20.16	18.36	13.46	14.07	30.64
Total Liabilities / Total Assets