Hiratsuka, Japan—The Yokohama Rubber Co., Ltd., announced today its business and financial results for the first half of fiscal 2024 (January to June 2024). Sales revenue increased 18.5% over the same period of the previous year, to \525.3 billion; business profit* increased 113.4%, to \54.6 billion; operating profit increased 99.6%, to \56.3 billion; and profit attributable to owners of parent increased 68.3%, to \46.6 billion. The figures for all those items were record-high figures for first-half performance at Yokohama Rubber. Fiscal performance in Yokohama Rubber’s Tires segment greatly exceeded management’s projections, and business was also robust in Yokohama Rubber’s MB (Multiple Business) segment. Profitability benefited additionally from declines in raw material costs and logistics expenses and from the weakening of the yen against other principal currencies.

*Basically equivalent to operating income under accounting principles generally accepted in Japan and calculated as sales revenue less the sum of cost of sales and selling, general and administrative expenses.

Management has raised the full-year fiscal projections that it announced in February 2024. It has raised the projection for profit attributable to owners of parent 5.4%, to \78.5 billion; the projection for operating profit 0.4%, to \116.0 billion; the projection for business profit 11.7%, to \128.5 billion; and the projection for sales revenue 4.2%, to \1105.0 billion.

For more information
[Consolidated Financial Results] (PDF: 670KB)
https://www.y-yokohama.com/release/pdf/2024080914mg002.pdf