Yokohama Rubber Co. Ltd. said its normalized net income for the first quarter was ¥37.08 per share, a decrease of 10.5% from ¥41.42 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥5.98 billion, a decline of 10.7% from ¥6.69 billion in the prior-year period.
The normalized profit margin dropped to 4.3% from 4.8% in the year-earlier period.
Total revenue came to ¥138.73 billion, compared with ¥139.93 billion in the year-earlier period, and total operating expenses fell on an annual basis to ¥126.90 billion from ¥128.21 billion.
Reported net income fell 10.1% from the prior-year period to ¥5.83 billion, or ¥36.16 per share, from ¥6.48 billion, or ¥40.11 per share.
As of May 12, US$1 was equivalent to ¥119.88.
