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The Yokohama Rubber (5101) investor relations material
The Yokohama Rubber Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved record 2Q and first-half sales revenue and business profit, with upward revision to full-year plan.
Sales revenue for the six months ended June 30, 2025, rose 10.3% year-over-year to ¥579,201 million, with business profit up 13.8% to ¥62,119 million, but profit attributable to owners fell 23.7% to ¥35,535 million.
Tire unit sales grew globally, especially in Japan, Europe, and Asia, with 108% YoY growth in 2Q.
Tire segment accounted for over 90% of sales, with strong OE and replacement tire sales, and contributions from the acquired OTR business.
The operating environment was mixed: moderate consumer spending in Japan, resilient domestic manufacturing, but overseas headwinds from US tariffs and inflation.
Financial highlights
2Q sales revenue: ¥304.1bn (+11.4% YoY); business profit: ¥38.0bn (+28.1% YoY); profit: ¥27.0bn (+0.8% YoY).
First-half sales revenue: ¥579.2bn (+10.3% YoY); business profit: ¥62.1bn (+13.8% YoY); profit: ¥35.5bn (-23.7% YoY).
Full-year sales revenue forecast raised to ¥1,235.0bn (+12.8% YoY); business profit forecast to ¥153.0bn (+13.9% YoY); operating profit to ¥140.5bn (+17.9% YoY); profit attributable to owners to ¥88.0bn (+17.5% YoY).
Gross profit increased to ¥197,912 million from ¥181,936 million YoY; gross margin improved.
Basic earnings per share dropped to ¥224.86 from ¥290.49 YoY.
Outlook and guidance
Full-year guidance revised upward for sales and profit, reflecting strong first-half performance.
Year-end dividend forecast raised to ¥64.00 per share, annual dividend to ¥112.00 per share.
Tariff impact for FY2025 estimated at ¥14.0bn, down from previous ¥16.5bn, with mitigation through pricing and internal improvements.
ROE forecast at 9.4% for FY2025.
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