The Yokohama Rubber Company, Limited revised consolidated earnings forecast for the fiscal year ending December 31, 2024. The company now expects sales revenue of ¥1,105,000 million against previous guidance of ¥1,060,000 million and operating profit of ¥116,000 million against a previous guidance of ¥115,500 million. Profit attributable to owners of the parent of ¥78,500 million against previous guidance of ¥74,500 million; Basic earnings per share are now expected to be ¥489.55 against previous guidance of ¥463.46.
Reasons for the revision: Under its current medium-term management plan YX2026, Yokohama Rubber is implementing a growth strategy as a basic policy for improving corporate value. Under this growth strategy, the Company will not settle for slight increases but instead aims to achieve "Hockey Stick Growth". For the consolidated earnings forecast for the full year, the consolidated results for the first half of the current fiscal year have been incorporated.
In addition, the Company expects its earnings to remain strong from the third quarter onwards. Accordingly, sales revenue, business profit, operating profit, and profit attributable to owners of the parent are all expected to exceed the previously announced forecast.