Yokohama Rubber Co. Ltd. posted net income of US$18.4 million for the first quarter of its fiscal year ended June 30 due to a turnaround in operating profitability.
The company posted operating income of US$ 67.8 million in the fiscal first quarter, compared with an operating loss of US$ 47.1 million in the same period in 2009. Yokohama’s net sales climbed 23.4% over the same quarter of the previous fiscal year, to US$1.4 billion.
Operating income in Yokohama’s tyre operations totalled US$ 60.9 million, up from a first-quarter loss of US$ 42.5 million in fiscal 2010. Group sales rose 25.5% to US$1.06 billion.