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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Niutech Environment Technology Corporation (Niutech), a China-based company specialising in continuous pyrolysis technology for recycling waste tyres, plastics and oil sludge, marked a major milestone on 24 March 2026 as its majority owned subsidiary, Shandong Hesheng Environment Technology Co., Ltd., broke ground on a significant expansion. This project will add 100,000 tonnes of annual tyre pyrolysis capacity, raising Hesheng’s total processing volume from 60,000 to 160,000 tonnes per year. With this increase, Hesheng becomes the world’s largest operation for collecting, processing and comprehensively utilising scrap tyres through pyrolysis technology.

At the heart of this expansion is Niutech’s latest generation of high capacity, continuous intelligent pyrolysis equipment, which delivers better performance in per unit output, system reliability and automation compared to conventional designs. These improvements are expected to reduce operating costs per tonne and strengthen the overall financial viability of the project. Solving the challenge of large scale, uninterrupted commercial pyrolysis has long been a central goal for the industry. This project proves Niutech’s progress not only in advanced equipment development but also in making continuous pyrolysis practical for widespread industrial use.

On the product quality side, Hesheng has drawn on Niutech’s research capabilities to steadily improve the consistency and performance of its pyrolytic outputs. The tyre derived oil has already earned international certifications, giving it access to demanding global markets. At the same time, through ongoing technical innovation, the pyrolysis carbon black is being upgraded towards standardised, higher value applications. These efforts directly address customer needs for uniform quality, reliable handling and strong application specific performance.

With the circular economy gaining speed worldwide, major tyre producers, chemical companies and material buyers are seeking greater volumes of high-grade pyrolysis oil and carbon black. Once the expanded facility is online, Hesheng will be equipped to meet that demand with stable, large-scale supply of dependable recycled materials. Niutech has also stated that it will continue using its public company strengths in technology and capital to drive further equipment upgrades and broader deployment of pyrolysis systems, supporting global waste tyre recycling and low carbon development.

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Sun Auto Network has expanded its footprint in Southern Indiana and the Greater Louisville market with Carmerica in Sellersburg, Indiana, officially becoming part of the network on 6 April 2026. This integration strengthens Sun Auto’s regional presence while bringing new resources to the local shop. Carmerica will retain its full range of automotive services, including tyre replacement, alignments, brake work, oil changes and preventative maintenance, ensuring that loyal customers continue receiving the same trusted care.

Under Sun Auto’s guidance, Carmerica now benefits from enhanced tools such as round the clock online appointment scheduling and digital vehicle inspections. These additions are backed by Sun Auto’s Driver Commitment, which emphasises clarity, confidence and genuine customer care. The acquisition reflects Sun Auto’s broader growth strategy of partnering with established operators in markets with strong long-term potential and easy customer access.

With over 575 locations nationwide, Sun Auto Network stands as one of the largest independent tyre and automotive service platforms in the country. By combining trusted local brands like Carmerica with the scale and support of a national organisation, Sun Auto continues to build a network rooted in both community reputation and operational excellence.

Rob Kingery, Regional Vice President, said, "This acquisition reflects a disciplined approach to expanding in high-opportunity regional markets where we can build density and deliver a consistent, high-quality experience. Sellersburg helps us deepen our presence in Southern Indiana and better support drivers throughout the Greater Louisville area."

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Apollo Tyres Ltd has announced two significant achievements underscoring its dedication to sustainability and responsible business practices. The company secured an improved EcoVadis Gold Rating, reaching the 98th percentile in FY26. Additionally, the Science Based Targets initiative (SBTi) has officially validated Apollo Tyres’ near-term and net-zero emissions reduction targets, marking a major step in its environmental journey.

These accomplishments highlight how Apollo Tyres continues to embed sustainability throughout its value chain while advancing its environmental, social and governance performance. The recognitions are not isolated but reflect steady, organisation-wide progress in aligning with global standards for responsible growth and climate action.

In its latest EcoVadis assessment for 2026, Apollo Tyres raised its overall score from 76 in 2025 to 84 in 2026, firmly staying within the Gold category. This improvement reflects intensified efforts in environmental stewardship, ethical governance, human rights practices and responsible sourcing across global operations. The company’s consistent benchmarking against international peers reinforces its position among leading organisations committed to continuous improvement and climate responsibility.

On climate targets, the SBTi validation confirms that Apollo Tyres’ greenhouse gas emission goals align with climate science. The company commits to net-zero emissions across its value chain by FY2050. Near-term, it aims to cut absolute scope 1 and 2 emissions by 58.8 percent by FY2035 from a FY2025 baseline, while reducing scope 3 emissions from key categories by 37.5 percent. Long-term, Apollo Tyres targets a 90 percent reduction in both scope 1, 2 and specified scope 3 emissions by FY2050.

Rajeev Kumar Sinha, Chief Manufacturing and Sustainability Officer, Apollo Tyres Ltd, said, “Achieving an improved EcoVadis Gold Rating and securing SBTi validation for our climate targets are significant milestones in our sustainability journey. These recognitions reflect our unwavering commitment to responsible growth and our determination to align with global climate goals. We remain focused on driving meaningful impact across our operations and value chain while collaborating with our partners and stakeholders to build a more sustainable and resilient future.”

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Magna Tyres is set to participate in two major industry events in May 2026: IFAT 2026 in Munich from 4 to 7 May and TOC Europe 2026 in Hamburg from 19 to 21 May. The company will present its specialised tyre solutions at both gatherings, which serve as key platforms for their respective sectors in Europe.

IFAT 2026, held in Munich, is the world’s leading trade fair for environmental technologies and recycling. Global visitors attend to explore innovations in waste management and sustainable solutions. At this event, Magna Tyres will highlight its tyre products designed specifically for recycling and waste management equipment, with the company stationed at Hall C5, Stand 146 to engage with current and prospective partners.

Later in the month, Magna Tyres will head to Hamburg for TOC Europe 2026, the premier European conference and exhibition for the port and shipping industry. The event gathers port operators, shipping lines, equipment suppliers and industry experts to discuss emerging trends and technologies shaping logistics and terminal operations.

At TOC Europe, Magna Tyres will showcase its tyre solutions for port handling and terminal equipment, aiming to connect with existing and potential collaborators. The company invites industry professionals to visit Stand C26 to explore partnership opportunities and discuss how its products support efficient and sustainable operations.

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