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Yokohama Rubber Q4 profit falls YOY

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Yokohama Rubber Q4 profit falls YOY

Yokohama Rubber Co. Ltd. said its fourth-quarter normalized net income came to ¥88.92 per share, a decrease of 6.3% from ¥94.91 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥14.26 billion, a decrease of 7.0% from ¥15.33 billion in the year-earlier period.

The normalized profit margin was 7.7%.

Total revenue declined on an annual basis to ¥186.18 billion from ¥195.44 billion, and total operating expenses decreased year over year to ¥162.10 billion from ¥168.24 billion.

Reported net income rose 15.7% on an annual basis to ¥18.04 billion, or ¥112.47 per share, from ¥15.58 billion, or ¥96.46 per share.

For the year, the company's normalized net income totaled ¥190.69 per share, a fall of 11.6% from ¥215.65 per share in the prior year.

Normalized net income was ¥30.63 billion, a decrease of 12.1% from ¥34.84 billion in the prior year.

Full-year total revenue totaled ¥629.86 billion, compared with ¥625.25 billion in the prior year, and total operating expenses increased on an annual basis to ¥575.32 billion from ¥566.18 billion.

The company said reported net income declined 10.4% on an annual basis to ¥36.31 billion, or ¥226.07 per share, in the full year, from ¥40.50 billion, or ¥250.68 per share.

As of March 30, US$1 was equivalent to ¥112.45.