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.
Tana Oy Appoints AB Equipment As Exclusive New Zealand Distributor
- By TT News
- July 14, 2026
Tana Oy has announced the appointment of AB Equipment as its new authorised distributor for the New Zealand market, a strategic move that bolsters the Finnish manufacturer’s footprint across the Asia-Pacific region. This collaboration is designed to elevate local service capabilities and ensure that New Zealand-based operators receive responsive, on-the-ground support.
AB Equipment, a nationally recognised provider with deep expertise in material handling, construction, forestry and municipal machinery, will now carry Tana’s complete range of landfill compactors and recycling equipment. Leveraging its extensive countrywide service infrastructure and technical proficiency, the distributor is well-equipped to manage customer needs from initial commissioning through to long-term maintenance and repairs.
Within Tana’s global sales network, authorised distributors are instrumental in delivering region-specific knowledge and comprehensive lifecycle care. This latest agreement reinforces that commitment, promising New Zealand customers enhanced reliability and sustained operational value from their Tana machines while further solidifying the brand’s international service standards.
Gerd Schreier, VP Sales and Marketing, Tana Oy, said, “Expanding our distributor network with strong local partners is a key part of our growth strategy. AB Equipment’s deep market knowledge and nationwide coverage make them an excellent fit to represent Tana in New Zealand. Together, we can better support waste management operators with efficient and sustainable solutions.”
Peter Dudson, CEO, AB Equipment, said, “With over a century of experience in heavy equipment and a strong focus on customer support, we are excited to bring Tana’s solutions to the New Zealand market. Tana’s technology aligns well with the needs of our customers, particularly in improving efficiency and supporting more sustainable waste management practices.”
Michelin Opens Tyre And Service Outlet In Kanpur To Strengthen Retail Presence
- By TT News
- July 14, 2026
Michelin has opened a new Michelin Tyres & Services (MTS) outlet in Kanpur in partnership with HJ Wheels, expanding access to its products and services in the city and surrounding areas.
Located in Harsh Nagar, the outlet offers Michelin's range of passenger car, SUV and two-wheeler tyres, including the Primacy, Pilot Sport, Latitude Sport and LTX Trail series. It also provides tyre-related services and automotive accessories.
The facility was inaugurated by Annu Mehla, Regional Sales Head – B2C (North and East), Michelin India, alongside the HJ Wheels team.
Shantanu Deshpande, Managing Director of Michelin India, said: "Kanpur is a pivotal market in Michelin's North India growth journey with a strong automotive customer base and a growing interest in premium products. The launch of our new Michelin Tyre & Services store is a step towards bringing Michelin's globally benchmarked products and services closer to this growing base of discerning customers. As we prepare to introduce Made-in-India passenger car tyres, we remain focused on delivering premium mobility solutions tailored to the evolving needs of Indian consumers."
Michelin said the outlet is intended to improve access to its products and services as demand for premium automotive offerings grows in the region.
The company said Kanpur's improving connectivity through new expressways, expanding presence in electric and advanced manufacturing, ongoing urban development and changing consumer preferences influenced its decision to strengthen its retail network in the city.
The new outlet has been established with HJ Wheels, an automotive aftermarket business that has operated in Kanpur since 1989. Michelin said the partnership reflects its strategy of working with established local retailers to expand its customer reach.
Hankook Ventus evo Earns Auto Express Summer Tyre Commendation For 2026
- By TT News
- July 13, 2026
Hankook Tire has earned a notable honour in the 2026 Auto Express Product Awards, with its Ventus evo model receiving a commendation within the Summer Tyre classification. The recognition places the company’s flagship ultra-high-performance tyre among the year’s most impressive automotive products as determined by the influential British publication.
This accolade traces back to an extensive comparative analysis conducted by Auto Express, the findings of which first appeared in the magazine’s August 2025 edition. The testing regimen focused on the widely used 225/40 R18 size and featured nine competing brands. The subsequent awards announcement, which included this commendation, was made public in the periodical's April 2026 issue.
Evaluation protocols were notably exhaustive, encompassing both wet and dry surface assessments alongside metrics such as rolling resistance and acoustic comfort. Wet-track drills scrutinised braking distances, cornering stability and aquaplaning resistance, while dry-track sessions measured steering precision, grip levels and chassis balance. Judges additionally conducted subjective road tests to gauge steering feedback and ride quality across diverse pavement types.
The Ventus evo ultimately claimed third position overall, distinguishing itself particularly through superior wet-weather capabilities, including braking performance that rivalled the category leader. Designed as the newest iteration of Hankook’s premier summer tyre line, the product incorporates sophisticated tread architecture aimed at premium sports sedans and coupes. This commendation bolsters Hankook’s reputation for engineering tyres that adeptly harmonise dynamic handling, safety margins and cost-effectiveness for discerning motorists.
Ho Seok Chea, Managing Director, Hankook Tyre UK, said, “Independent third-party testing is a valuable endorsement of our engineering standards, confirming that our products provide the quality, performance and long-term reliability expected in real-world conditions.”
Mitas Named Main Sponsor Of World Ploughing Championship 2026
- By TT News
- July 13, 2026
Mitas has confirmed its role as the Main Sponsor for the 71st World Ploughing Championship, scheduled to take place from 3 to 6 September 2026 in Osijek-Baranja County, Croatia. This engagement follows the brand’s notable participation in the 2025 edition held in the Czech Republic, reinforcing its dedication to premier agricultural events that honour farming heritage.
Organised under the World Ploughing Organisation, the competition will draw participants and agricultural professionals from over 30 nations. The event serves as a global stage for ploughing proficiency, embodying precision and land stewardship – principles that resonate with Mitas’ ongoing mission to support the farming community worldwide. The company will leverage its sponsorship to secure a visible event presence, facilitating direct interaction with farmers, dealers and industry partners at its dedicated stand.
Attendees can explore the company’s latest agricultural tyre innovations, including the GRANTERRA series for high-horsepower tractors and the AGRITERRA ULTRA for transport applications. Additionally, Mitas will back the Croatian national ploughing team, aiding local competitors in their home-country challenge against elite international ploughmen and women.
Roberta D'Agnano, Global Brand Director Mitas at Yokohama TWS, said "Ploughing is one of the oldest agricultural skills, yet it remains a powerful symbol of everything that makes farming extraordinary: precision, experience and dedication to the land. That is why the World Ploughing Championship feels so close to the Mitas spirit. It brings together people who share a genuine passion for agriculture and a constant drive to do things better. We are proud to return as Main Sponsor, supporting these passionate teams and showcasing solutions that help farmers tackle today's challenges with confidence."
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