Tokyo – The Yokohama Rubber Co., Ltd., has finalized its consolidated results for fiscal 2005, ended March 31, 2005. Net sales rose 4.5%, to 419.8 billion yen, as overseas tire sales grew despite a high yen. Operating income slipped 0.6%, to 21.0 billion yen, however, reflecting higher raw materials prices. Ordinary income was down 0.8%, to 17.1 billion yen. Net income climbed 9.6%, to 11.3 billion yen, partly because of lower taxes.
Tire sales were favorable overseas, particularly in Europe, Asia, and the Middle East. Replacement tire sales were up in Japan. Tire Group sales thus advanced 6.7%, to 307.9 billion yen, with operating income gaining 19.0%, to 18.2 billion yen.
Sales of the Multiple Business Group were down 1.0%, to 111.9 billion yen. Stagnant demand depressed sales of golf products, conveyor belts, and fenders, overshadowing gains in hydraulic hoses and sealants. Segment operating income plunged 51.8%, to 2.8 billion yen, mainly because of the decline in profits from aircraft components and lower sales of golf products.
For fiscal 2006, management projects a 6.0% increase in net sales, to 445 billion yen, a 14.5% rise in operating income, to 24 billion yen, a 5.2% improvement in ordinary income, to 18 billion yen, and a 1.6% increase in net income, to 11.5 billion yen.
(1)This information has been prepared in accordance with generally accepted accounting principles in Japan.
(2)Results by Group and by Region, Sales indicates only sales to third parties; Operating income includes income from transactions between segments.
(3)In Results by Region, North America includes the United States and Canada, and Other Regions includes Oceania, Europe, and Asia.