Yokohama Rubber posted record-high business and financial results for the first nine months of fiscal 2024, driven by substantial revenue and profitability growth across its key business segments.

The company reported a 13.1 percent increase in sales revenue from the same period last year, reaching USD 5022 million. Business profit rose 69.6 percent to USD 535 million, operating profit increased 63.8 percent to USD 551 million, and profit attributable to the parent company’s owners climbed 36.5 percent to USD 390 million.

The Group’s business profit margin also reached 10.7 percent, its highest level ever for this time frame.

Yokohama Rubber attributed this robust growth to efforts to expand sales volume, implement product price increases and optimise the product mix. A full-year contribution from Y-TWS and the positive impact of yen depreciation further supported the performance.

Segment Results

Tyre Business: Sales in the tyre segment reached USD 4498 million, a significant increase from USD 3931 million in the same period last year. Business profit for the segment surged to USD 505 million, up from USD 287 million. Growth was driven by higher sales volume, favourable product mix and effective price increases in response to raw material costs.

Yokohama Off-Highway Tires (YOHT: YOHT recorded sales of USD 684 million, up from USD 632 million in 2023, while business profit rose to USD 81.45 million, compared to USD 76.3 million the previous year. The segment benefited from strong demand in the agricultural and industrial tyre markets, particularly in overseas markets.

Yokohama Tire & Wheel Solutions (Y-TWS): Sales in Y-TWS totaled USD 737 million, a substantial increase from USD 432 million in 2023. Business profit came in at USD 46.81 million, reversing a loss of USD 7.05 in the prior year. The improvement reflects strong sales of speciality tyres and positive impacts from structural changes and efficiency improvements.

Yokohama Rubber’s CEO emphasised the company’s ongoing focus on strategic growth initiatives, including high-margin products and global market expansion. The results underscore Yokohama Rubber’s resilience and adaptability in a challenging economic environment.

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Bridgestone Retail Operations, a subsidiary of Bridgestone Americas and operator of the largest network of company-owned automotive service providers in the world, has unveiled plans to mark the 100th anniversary of Firestone Complete Auto Care. The yearlong observance will include special events, promotions and new customer initiatives across more than 1,800 US locations.

Among the centennial offerings, Firestone Complete Auto Care will release its inaugural state of auto care report this summer, drawing on millions of data points from its retail network to highlight customer trends and cost-saving insights. The company is also launching an interactive online history archive that showcases a century of achievements and innovations. Additionally, the brand will donate its 100th Driving Great Futures passenger van to the Boys & Girls Clubs of America, expanding reliable transportation for youth programs, a partnership active since 2015. Anniversary promotions and offers are available throughout the year.

The business traces its origins to founder Harvey Firestone, who, a 100 years ago, established one-stop service stations for tyres, gasoline, oil, batteries and brakes. During the 1920s and 1930s, the company helped shape the auto care industry through warranties, lifetime guarantees, advanced diagnostics and specialised training. Harvey Firestone’s customer-first philosophy remains a cornerstone of operations today.

Currently, the Firestone Complete Auto Care network spans 48 states and employs more than 9,500 technicians, all supported by an Automotive Service Excellence accredited training programme. The brand’s century-long legacy continues to emphasise trusted reliability and dependability, honouring both past and present employees who have built that reputation.

Marko Ibrahim, President, Bridgestone Retail Operations, said, “When Harvey Firestone established the first network of Firestone service stations in 1926, he helped pioneer the automotive care industry and set us on a course of innovation as the automobile evolved. Over the past century, Firestone Complete Auto Care has become a trusted neighbour and dependable resource in communities across the nation. We are grateful to our customers past and present and look forward to continuing this journey together for another 100 years.”

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Hankook Tire has announced a new distribution partnership with Grupo Q, a leading automotive group in Central America. The agreement was formalized during Expo Off Road 2026, held at the Pedregal Event Center in Heredia, Costa Rica.

Under the deal, Grupo Q and its specialised AutoPits network will integrate Hankook’s full tyre portfolio across Costa Rica. The collaboration aims to boost the premium brand’s visibility by increasing consumer touchpoints. At the expo, Central America’s largest SUV and adventure vehicle exhibition, Hankook is prominently showcasing its Dynapro series of SUV tyres for off-road and 4x4 enthusiasts.

This strategic move strengthens Hankook’s commercial competitiveness and brand recognition in the region. Building on the Costa Rica partnership, the company plans to progressively expand its distribution networks into other Central American markets.

Hoseok Shin, Managing Director, Hankook Tire, said, "Allying with an automotive reference in the region as Group Q represents a strategic milestone to expand our presence in Central America. By combining Hankook Tire’s world-class technology leadership with Grupo Q’s extensive local network, we look forward to bringing our premium values and high-performance products to Costa Rican consumers.”

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Sun Auto has expanded its strategic footprint by acquiring two locations: Highland Auto in Tennessee and Highland Tire at Sentry Station in Georgia. This marks the company’s first entry into Georgia and adds a fourth Tennessee site, enhancing regional network connectivity.

The move supports Sun Auto’s broader 2026 growth campaign, which includes new operations in Colorado and brings the company’s total presence to 27 states nationwide. Both acquired shops join the Sun Auto Network, gaining access to 24/7 online scheduling, digital vehicle inspections and the company’s Driver Commitment focused on clarity, confidence and customer care.

Each location provides a full range of automotive services, including major tyre brands with a price match guarantee, alignments, brake service, oil changes, batteries, diagnostics and preventative maintenance. Sun Auto now operates over 575 locations nationwide through both acquisitions and new builds.

Chris Tavares, SVP Operations, Sun Auto, said, "Expanding into the Southeast is an important step in strengthening our national footprint and positioning our network for long-term growth. Establishing a presence in Georgia allows us to serve more customers, support our teams with greater regional resources and build stronger continuity across key markets."

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Hankook Tire has formally launched a major national research initiative at its advanced Hankook Technodome facility in Daejeon. The kick-off gathering took place on 4 June to begin work on a project titled ‘Development of Tire Manufacturing Technologies Using Sustainable Materials’, which falls under the Ministry of Climate, Energy and Environment’s 2026 Environmental Technology Development Program.

The core objective of this undertaking is to accelerate South Korea’s transition to a circular economy by deriving high-grade recycled inputs from discarded tyres. Two parallel tracks of research involve creating premium reclaimed materials from waste rubber and establishing manufacturing processes that rely on sustainable components. Hankook Tire has been a driving force in this field since 2023, leading the domestic Tire-to-Tire consortium, and has already brought to market the iON GT, an electric vehicle tyre composed of over 70 percent sustainable content.

Participation in this government-backed programme allows Hankook to broaden its existing private sector work into a larger cooperative framework that includes universities, research bodies and industry partners. The company intends to strengthen its ability to adapt to evolving environmental rules while making its raw material supply chains more resilient. The project consortium brings together 11 entities, with M&B Green Earth acting as the lead institution alongside Kumho Petrochemical, HS Hyosung, Solvay, KRICT, KAIST and several other academic and technical organisations.

Hankook Tire ultimately targets the commercial release of next-generation, low-carbon tyres containing more than 85 percent sustainable materials and capable of cutting carbon emissions by over half. The project will also allow for large-scale validation of the domestic Tire-to-Tire circular model through product demonstrations and integrated performance assessments. Further demonstrating its commitment, the company recently attended the April launch of the Eco-design Forum, where industry players discussed compliance with the EU Ecodesign for Sustainable Products Regulation.

Bonhee Koo, Head of the R&D Innovation Division at Hankook Tire, said, “This national R&D project presents a meaningful opportunity to bring together the expertise of leading industry, academic and research institutions. Through close communication and collaboration among all participating organisations, we will strive to deliver tangible outcomes that contribute to strengthening competitiveness in the global market.”

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