The four main tire manufacturers based in Japan have now all announced their results for calendar 2022. With sales volume on the rise, a weak yen, and a spate of price hikes made in response to surging raw material costs and other costs, all four of these companies saw their revenue increase for the year. However, they were split with...
Toyo Tires reported net sales of 497.21 billion yen ($3.65 billion) for the fiscal year ended December 2022, up 26.3% year-on-year. Operating income was 44.05 billion yen, down 17.0%, ordinary income was 51.04 billion yen, down 8.7%, and net income stood at 47.96 billion yen, up 16.0% . “Net sales reached a record high thanks to foreign exchange benefits, while...
Yokohama Rubber has revealed its financial results for calendar 2022, including revenue of 860.48 billion yen ($9.35 billion), up 28.3% year-on-year; business profit of 70.09 billion yen, up 12.8%; and net profit of 45.92 billion yen, down 29.9%. While the company’s net profit fell year-on-year due to a number of factors – such as the previous year’s figures having been...
Sumitomo Rubber reported financial results for the year ended December 2022, with net sales of 1.10 trillion yen ($8.20 billion), up 17.4% year-on-year, operating income of 22.00 billion yen, down 57.7%, and net income of 9.42 billion yen, down 68.1%. President Satoru Yamamoto said, “Sales revenue increased due to sales growth mainly in the tire and sports businesses, but operating...
Bridgestone has posted its financial results for calendar 2022, revealing annual revenue of 4.11 trillion yen ($30.62 billion) – an increase of 26.6% year-on-year. The company’s adjusted operating profit for the year came to 482.63 billion yen, up 24.4%, while its net profit was 305.51 billion yen, down 0.8%. Also included in the financial results was an overview of factors...
Toyoda Gosei has revealed its cumulative business results for the first three quarters of fiscal 2022, showing a year-in-year drop in Japanese performance but an improvement in multiple overseas markets. The company’s revenue for the period came to 701.81 billion yen ($5.25 billion), up 16.9 percent year-on-year; meanwhile, its operating profit was up 24.7 percent to 23.69 billion yen, and...
