NOK, a leading manufacturer of O-rings, announced upward revisions to its second half and full-year earnings forecasts. According to the announcement, the company sees its second half sales forecast to remain largely unchanged from the previous forecast, but expects operating income to increase due to foreign exchange fluctuations and the passing on of selling prices following the sharp rise in...
financial results
Yokohama Rubber Sales up 28.8% in First Half
Yokohama Rubber’s sales increased by 28.8 percent year-on-year to 391.48 billion yen ($2.81 billion) in the first half (January-June) of the fiscal year ending December 31, 2022. Business profit for the period was 27.73 billion yen, up 5.3 percent; and net income was 23.31 billion yen, down 36.9 percent. The factors for increases and decreases at the business profit level...
Sumitomo Rubber Posts First Half Business Results – Part 2
This article follows part 1 in a series of 2 on Sumitomo Rubber’s first half financial results (January-June of the fiscal year ending December 31, 2022). Looking at Sumitomo Rubber’s performance by segment, the tire business posted sales revenue of 430.85 billion yen ($3.13 billion), up 16.7 percent year-on-year, and operating profit of 7.66 billion yen, down 67.4 percent. Japanese...
Sumitomo Rubber Posts First Half Business Results – Part 1
Sumitomo Rubber has posted revenues of 512.11 billion yen ($3.71 billion) for the first half (January-June) of the fiscal year ending December 31, 2022, up 16.4 percent year-on-year. Business profit was 14.18 billion yen, down 52.9 percent; and overall profit was 17.19 billion yen, down 16.2 percent. In a highly uncertain economic environment, including the coronavirus pandemic, the situation in...
Japan’s Tire Giants Post Second Quarter Results – Part 2
This article follows part 1 in a series of 2 on second quarter financial results (January-June of the fiscal year ending December 31, 2022) of the four large Japanese tire manufacturers. Sales increased by double digits year-on-year for all four companies. With its strong demand and weak yen exchange rate, the U.S. market was one of the factors that contributed...
Japan’s Tire Giants Post Second Quarter Results – Part 1
Japan’s four major tire manufacturers have now all posted their financial results for January–June 2022. The four companies – Bridgestone, Yokohama Rubber, Sumitomo Rubber, and Toyo Tires – each achieved double-digit increases to their sales revenue when compared to the first half of the previous year, on top of which the first two of these companies managed a year-on-year increase...
