Yokohama Rubber Records Stellar Half-Year Growth

Yokohama Rubber Co (JP:5101) has released an update.

Yokohama Rubber Co. reported a robust financial performance in the first half of FY2024, with a significant increase in sales revenue to ¥272.9 billion, up 14.2% year over year, and a business profit jump of 136.7%, achieving a 10.9% profit margin. The tire business notably marked a profit margin of 12.7%. Additionally, strategic investments and asset efficiency initiatives were highlighted, including the construction of a new plant in China and the acquisition of Goodyear Tire’s OTR business.

For further insights into JP:5101 stock, check out TipRanks’ Stock Analysis page.