Yokohama Rubber Co. Ltd.'s first quarter sales revenue increased 15.8% versus the same period last year. The company also achieved significant operating profit gains during the first three months of 2021.
Yokohama officials say the Tokyo, Japan-based tire manufacturer's replacement tire sales "rose in Japan and overseas" during 1Q 2021.
"That growth was a testimony to vigorous promotion of high value-added products and expanded production to meet robust demand. Early-year snowfalls in Japan supported strong sales of winter tires there and overseas sales growth featured especially strong gains in China, Europe and Asian nations, besides Japan."
The company is working "to maximize the sales ratio of high value-added tires in its consumer tire business. That efforts focuses on three core product categories: high performance tires marketed under Yokohama's global flagship brand, Advan; Geolandar tires for sport utility vehicles and pickup trucks; and winter tires."
Meanwhile, Yokohama reports that sales and profits for its Yokohama Off-Highway Tires America Inc. (YOHTA) unit reached its "highest-ever levels."
The division's first quarter performance "reflected robust demand" in the ag, OTR and other sectors.
A recent MTD interview with Dhaval Nanavati, vice president of YOHTA, can be found here.
