Q1 income for Yokohama declines by 38%.
Yokohama Rubber Co. Ltd. reported net income of 3.6 billion yen on net sales of $129.3 billion yen for its first quarter ended March 31, 2016. That compares to income of $5.8 billion yen on sales of $138.7 billion yen for 1Q 2015.
Based on the exchange rate on March 31, 2016, Yokohama recorded net income of $32 million on net sales of $1.1 billion for the first quarter. The company’s income-to-sales ratio was 2.9%.
The company’s first quarter net income declined 37.9% and net sales were down 6.8%. Operating income declined 42.0% to 6.9 billion yen.