Yokohama Rubber Co ( (YORUF) ) has released its Q3 earnings. Here is a breakdown of the information Yokohama Rubber Co presented to its investors.
Yokohama Rubber Co., Ltd., a leading manufacturer in the tire and rubber industry, produces tires for various applications and engages in multiple businesses including industrial products and marine products.
Yokohama Rubber reported strong financial performance for the nine months ended September 30, 2024, with increased sales and profitability, driven by strategic initiatives and favorable market conditions.
The company achieved a sales revenue of ¥782,906 million, a 13.1% year-on-year increase, and a business profit of ¥83,411 million, marking a significant 69.6% growth. The tire segment, contributing to the majority of sales, saw a 14.4% increase in revenue. Additionally, the company benefited from the yen’s depreciation and the acquisition of Y-TWS.
Total assets grew to ¥1,619,718 million, while total equity increased to ¥815,112 million due to accumulated profits. Yokohama Rubber maintains a positive outlook for the remainder of the fiscal year, supported by continued strategic execution and market dynamics.
Looking ahead, Yokohama Rubber’s management remains optimistic about further growth, focusing on leveraging its existing business strengths and exploring new opportunities under its medium-term management plan.
