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.

Comments (0)

ADD COMMENT

Link Copied!

Hankook Tire is embarking on a new venture as the inaugural Official Tire and Founding Partner of the U.S.-based simulation golf league Tomorrow’s Golf League (TGL), beginning with its second season. This alliance is built upon a common dedication to cutting-edge technology, a principle that defines both organisations. The league itself, a brainchild of sports executive Mike McCarley and golf icons Tiger Woods and Rory McIlroy, represents a forward-thinking approach to the sport. It utilises a custom-built, tech-centric arena to fuse simulator golf, live action and data-driven insights, creating a fast-paced and accessible format that is rapidly attracting a global audience.

This partnership will see Hankook Tire’s global branding integrated across multiple platforms to enhance its premium status. The company will achieve this through prominent LED signage within the SoFi Center, targeted television commercials and extensive visibility during the live broadcasts of TGL Season 2. The objective is to deliver a distinctive brand experience that bridges the gap between mobility and sports, engaging golf enthusiasts of all ages across North America and international markets.

The sporting action will commence with TGL Season 2 on 28 December, running through March 2026 for a total of 15 rounds. The league will feature six teams: Atlanta Drive GC, Boston Common Golf, Jupiter Links Golf Club, Los Angeles Golf Club, New York Golf Club and The Bay Golf Club. These teams, staffed by 24 active PGA Tour golfers, will compete in an intense race for the championship title.

Sanghoon Lee, Co-CEO, Hankook Tire, said, “We are delighted to join TGL Season 2 as a global partner. Through our partnership with TGL, which is reshaping the landscape of sports entertainment, Hankook Tire will further enhance its innovative technology and premium brand value, solidifying its position as a global leader in the mobility industry.”

Comments (0)

ADD COMMENT

Link Copied!

Bridgestone Retail Operations (BSRO), a part of Bridgestone Americas, has achieved a significant milestone with the full accreditation of its technician training curriculum by the National Institute for Automotive Service Excellence (ASE). This distinction, which places BSRO among a select few automotive service providers, confirms that its internal training programmes meet the institute's rigorous standards for educational quality and effectiveness.

The accreditation process was both extensive and intensive. To qualify, BSRO embarked on a four-year internal assessment and invested USD 3 million to revitalise its company training centres with the latest technology and equipment. This preparation culminated in an 18-month evaluation by ASE, which scrutinised 53 distinct training activities and involved more than 3,500 employees. The review thoroughly assessed all aspects of the programme, including the curriculum, training facilities, instructional equipment, instructor qualifications and, crucially, student outcomes.

This achievement has direct and meaningful implications for both technicians and customers. For the technicians working across more than 2,200 Firestone Complete Auto Care, Tires Plus, Hibdon Tires Plus and Wheel Works stores, this accredited curriculum provides a seamless pathway to earning individual ASE certifications. These certifications are widely recognised as a gold standard in the industry and are linked to greater career longevity and higher wage potential. For customers, this structured, high-quality training ensures that BSRO stores can consistently maintain and enhance the rigorous standards of trusted service they expect.

Marko Ibrahim, President, Bridgestone Retail Operations, said, “Achieving ASE accreditation positions BSRO as an industry leader in automotive training and education. This significant milestone reflects our unwavering commitment to excellence, elevating the quality and consistency of our training programme and empowering our technicians with industry-recognised credentials. The impact is already clear, and I could not be prouder of our team for their dedication to building a better skilled, more reliable workforce.”

Comments (0)

ADD COMMENT

Link Copied!

The European Tyre and Rubber Manufacturers’ Association (ETRMA) has officially rebranded as Tyres Europe. This new identity establishes a clear, dedicated focus on representing the European tyre manufacturing industry. The association aims to champion a competitive and innovative sector that advances safe, smart and sustainable mobility.

This strategic name change is designed to immediately clarify the organisation's mandate for all EU stakeholders, especially within a new political cycle and evolving market. Tyres Europe will engage in constructive, evidence-based policy discussions, advocating for the industry on key legislation including the EUDR, ESPR, Euro 7 and substance regulations. It will also push for an active industrial policy to bolster the competitiveness of Europe's tyre manufacturing base.

The association has elected Livio Magni of Pirelli as its new President and Paolo Pompei of Nokian Tyres as Vice-President for a two-year term. An official launch event is scheduled for 18 November in Brussels, featuring a strategic update from leadership and keynote speeches from high-level representatives of the European Commission and Parliament on Europe's mobility value chain.

Livio Magni, Tyres Europe President & Pirelli CEO Region Europe, said, “The tyre industry is a strategic pillar for Europe’s mobility, prosperity and safety. Through Tyres Europe, we will continue to work closely with policymakers and key stakeholders to ensure a predictable business environment that enables manufacturers to invest, innovate and compete in Europe. As an industry, we remain committed to driving innovation to deliver products that are increasingly safe and environmentally responsible.”

Paolo Pompei, Tyres Europe Vice-President and President & Nokian Tyres CEO, said, “Our sector is investing in capacity, efficiency and R&D to serve European mobility, reliably. Tyres Europe is committed to advocating for industrial policies that empower manufacturers to deliver greater value to society and to be recognised for their performance.”

Adam McCarthy, Tyres Europe Secretary General, said, “Tyres are as essential to vehicle performance as batteries and semiconductors and face multiple cross-cutting challenges that reflect the broader industrial transition. Tyres Europe will keep engaging with EU institutions to build coherent, workable rules that deliver real-world outcomes across competitiveness, circularity and innovation.”

Comments (0)

ADD COMMENT

Link Copied!

The Rubber Board organised a mass run in Kottayam town on Monday, bringing together its employees, their families, and college students as part of a nationwide fitness campaign now in its sixth year.

The Fit India Freedom Run 6.0 drew participants from Baselius College and CMS College alongside Rubber Board staff, forming part of a month-long initiative running from  2-31 October across India.

Launched in 2020 by the Ministry of Youth Affairs and Sports, the Fit India Freedom Run was conceived to commemorate two significant dates in India’s calendar—Independence Day on 15 August and Gandhi Jayanti on 2 October. The programme seeks to promote walking and running as accessible routes to improved health and physical fitness amongst the general population.

This year’s edition has adopted the theme of “Swachhata and Swasthiya” (Cleanliness and Health), reflecting the government’s emphasis on hygiene as a cornerstone of healthy living. The dual focus aligns with broader public health messaging that connects environmental cleanliness with individual well-being.

Comments (0)

ADD COMMENT

Link Copied!