Yokohama Rubber Q1 2024 Sales Up 23.5%

Yokohama Rubber Q1 2024 Sales Up 23.5%

The figures for sales revenue and business profit were record-high figures for first-quarter performance at Yokohama Rubber.

Yokohama Rubber revealed its business and financial results for the Q1 of fiscal 2024 (January to March). Sales revenue increased 23.5% over the same period of the previous year, to 252.4 billion yen (approx. $1.6 billion); business profit increased 91.0%, to 24.9 billion yen (approx. $158 million); operating profit increased 102.6%, to 26.8 billion yen (approx. $171 million); and profit attributable to owners of parent increased 104.0%, to 19.8 billion yen (approx. $126 million), according to the latest press information.

The figures for sales revenue and business profit were record-high figures for first-quarter performance at Yokohama Rubber, and the ratio of business profit to sales revenue also attained a record-high level for the first quarter, at 9.8%, the company said. Fiscal performance in Yokohama Rubber’s Tires segment benefited from the May 2023 acquisition of Trelleborg Wheel Systems Holding AB, which now operates as Y-TWS (Yokohama-TWS); from declines in raw material costs and logistics expenses; and from the weakening of the yen against other principal currencies.

You May Also Like

BASF Exhibiting at The Battery Show Europe 2024

The company will present its range of products targeted to enable advancements of battery technologies and future automotive mobility.

BASF-Exhibiting-at-The-Battery-Show-Europe-2024

BASF announced it will be showcasing its power solutions at The Battery Show Europe 2024, Europe’s largest industry event that brings together the battery and electric vehicle (EV) community, in Stuttgart, Germany, June 18-20.

BASF said it will be presenting its range of products "targeted to enable advancements of battery technologies and future automotive mobility," at booth 10-C110.

WAI Releases 116 New Part Numbers

The new part numbers include starters, alternators, wiper motors, sensors, and transfer case motors.

WAI Announces 116 New Part Numbers
The Digitalization of Mexico’s Automotive Manufacturing Industry

Ibarra discusses the future trends in the digitalization of the automotive industry in Mexico, and how companies should prepare for them.

The-Digitalization-of-Mexicos-Automotive-Manufacturing-Industry
Martinrea Invests $35 Million to Expand Ontario Facility

The company said the new addition will house a new SIMPAC 3000 metric ton stamping press.

Polestar Integrates Renewable Fuels for Ocean Freight

The company is reducing supply chain emissions by integrating renewable fuels on its ocean freight routes, which account for around 75% of its total transportation emissions.

Polestar-Integrates-Renewable-Fuels-for-Ocean-Freight

Other Posts

MEMA to Host International Supply Chain Webinar

The content of the webinar will be beneficial to operations, logistics and purchasing teams, the organizations said.

Gemini-Shippers_MEMA-webinar
Iveco, Foton Announce Joint Exploration Project

The two companies will look into future synergies in the areas of electric vehicles and components.

Hyundai Motor, Iveco Group Partner on Electric H-D Trucks
Andreas Nix Takes Over as COO of ZKW Group

Nix replaces Stefan Hornvuis, who left the company for personal reasons.

https://www.aftermarketnews.com/zkw-named-headlamp-supplier-for-the-bmw-xm/
Distressed German Companies: Creating M&A Opportunities

Hertzog discusses how to create opportunities with exceptional values when acquiring the operations of a distressed company in Germany.

Phil-Hertzog-Distressed-German-Companies