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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Fornnax Technology has received the Special Export Award – Rubber Machinery for 2025–26 from the All-India Rubber Industries Association (AIRIA). The recognition stems from the company recording the highest export volume of tyre recycling plants to Europe, marking a significant achievement in its international trade performance.

For more than 10 years, Fornnax has driven innovation within India’s tyre recycling sector. The firm now holds a 90 percent share of the domestic market, while exports constitute 30 percent of its operations, serving regions such as Europe, Australia and the GCC. Its integrated, high-capacity recycling lines and shredding systems support a more circular ecosystem.

The company’s approach centres on complete infrastructure rather than standalone equipment, combining multiple shredding and size-reduction stages to boost throughput and reliability. Fornnax aims to expand its global footprint and advance technologies suited to rising international recycling demands.

Jignesh Kundaria, Founder and Director, Fornnax, said, “This honour from AIRIA is a reflection of an incredible journey we have undertaken over the years. When we started Fornnax, there was no established recycling industry in India to follow. We chose to build for the future instead. Today, when you see India’s tyre recycling sector, it has already transformed into a dynamic, high-growth industry, and we are proud to have played our part in building it.”

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Apollo Tyres Ltd has expanded its industrial tyre portfolio with the introduction of the AWE 733 flotation tyre, engineered for mobile excavators working on soft and sensitive ground. Developed in Europe, the product reflects the company’s ‘Engineered for Tough Conditions’ approach, combining minimal surface compaction with high traction and durability.

The tyre, offered in size 600/50-22.5, targets construction, infrastructure and utility duties requiring low ground pressure and dependable off-road manoeuvrability. Its wide flotation tread incorporates rounded lugs and shoulders to reduce ground disturbance while preserving grip.

A steel-belted bias construction supports stability during lifting and digging, and a reinforced carcass with steel breaker guards against cuts and punctures. High flotation and a durable tread compound extend service life and cut downtime. Global sales begin in the fourth quarter of 2026.

Bernhard Schmolz, Division Head OHT Europe, said, “The AWE 733 flotation tyre is an important addition to our proven excavator portfolio. It combines flotation, traction and durability in a purpose-built solution, enabling operators to work productively in challenging conditions while reducing ground impact. It is another example of Apollo Tyres’ commitment to providing reliable and application-focused solutions for industrial equipment operators.”

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Hankook Tire has entered a five-year partnership with Racing America, a US motorsports company, becoming the official tyre partner and exclusive racing tyre supplier for its major series from 2027 through 2031. The agreement was signed at Hankook’s Tennessee plant on 25 September local time.

Under the deal, Hankook will exclusively supply racing tyres to Racing America’s major series while collaborating on technical and engineering support, trackside services and joint marketing initiatives. The company will begin supporting Trans Am, a leading US road racing series, and International GT, a premium sports car racing series. It will also renew partnerships with Racing America’s Formula ladder series, which it has backed since 2019.

Trans Am, established in 1966, is a historic series featuring muscle cars with nearly six decades of competition. International GT showcases premium sports cars, while Racing America’s Formula ladder focuses on developing the next generation of formula drivers. Through the partnership, Hankook aims to display its racing tyre technology across North American motorsports and strengthen its premium brand position. Fan engagement will expand through exclusive tyre supply, technical and trackside support, event branding, digital and broadcast exposure and social media activities.

Globally, Hankook supplies racing tyres and supports teams at more than 70 motorsports events, including the FIA World Rally Championship. In North America, it continues expanding its premium presence through partnerships with major events such as the off-road racing event King of the Hammers.

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Dr Suttipong Angthong, Secretary-General of the Association of Natural Rubber Producing Countries (ANRPC), served as a panellist at the Economic Forum 2026, hosted by the Royal Thai Embassy in Kuala Lumpur on 25 September 2026 at the Imperial Lexis Hotel. The event, titled ‘Bridging the Two Borders: Elevating Thailand – Malaysia Resilient Value Chains in Halal and Rubber Industries’, gathered government agencies, industry players, chambers of commerce, academia and think-tanks from both nations. H.E. Ms. Lada Phumas, Thailand's Ambassador to Malaysia, delivered welcoming remarks, followed by opening remarks from YB Tuan Haji Akmal Nasrullah bin Mohd Nasir, Malaysia's Minister of Economy.

Dr Angthong participated in Panel Session 2, titled ‘Strategic Partnership in Action: Advancing Thailand–Malaysia Sustainable Rubber Value Chain’, moderated by the Centre for IMT-GT Subregional Cooperation. Fellow panellists represented the Industrial Estate Authority of Thailand, Thai Eastern Group Holdings PCL, the Northern Corridor Implementation Authority and the Malaysian Rubber Board. Discussions centred on upstream-downstream cooperation, border economic corridors, joint research and development, international standards compliance and safeguarding smallholders and grassroots stakeholders.

Dr Angthong outlined the natural rubber market landscape and challenges confronting ANRPC member nations, including sustainability and traceability demands in importing markets, price volatility and the imperative to increase value addition within producing countries.

“ANRPC welcomes cooperation among its member countries that supports a sustainable and resilient natural rubber sector. Regional dialogue of this kind helps members share experience on value addition, standards compliance and smallholder welfare. ANRPC will continue to support its members with statistics, market analysis and a platform for cooperation,” said Dr Angthong.

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