Yokohama posts gains in H1 2017; revises projection
The Yokohama Rubber Company Limited has registered profits for the January-June 2017 period. Operating income increased to 18.4 billion yen, up by 16.8 per cent over H1 2016; net sales increased by 15.9 per cent to 310.8 billion yen and profit attributable to owners of parent increased 38.7 per cent to 11.4 billion yen.
In the tyre segment, operating income increased 8.9 per cent, to 13.1 billion yen, on a 6.4 per cent increase in sales, to 221.5 billion yen. Operating income in Yokohama’s MB segment declined 7.9 per cent, to 3.2 billion yen, on a 2.3 per cent decline in sales, to 55.0 billion yen. In the ATG segment, operating income totaled 1.5 billion yen on sales of 30.3 billion yen.
The reasons behind the strong performance are: domestic and overseas sales gains in the company’s Tires segment, sales gains in high-pressure hoses and in Hamatite-brand automotive sealants in Yokohama’s MB (Multiple Business) segment and inclusion of Alliance Tire Group B.V. in the company’s interim consolidated results for the first time.
The company has declared an interim dividend of 26 yen per share and has supplemented that dividend with a special dividend of five yen per share to commemorate the company’s centennial. The company’s annual dividends per share would be 62 yen.
Management has revised upward the projection for 2017. It calls for operating income of 50 billion yen, a 5.3 per cent increase over the earlier projection. Profit attributable to owners of parent of 30 billion yen and for net sales of 660 billion yen.