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The Yokohama Rubber Company (5101) investor relations material
The Yokohama Rubber Company Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Nine-month revenue rose 10.2% YoY to ¥966,866 million and business profit rose 46.3% to ¥147,389 million; key earnings categories reached record highs.
Strong replacement tire sales, OHT volume and high-value products, MB profitability improvements, and cost reforms supported earnings growth.
Q3 revenue and business profit reached quarterly records of ¥327.5bn and ¥51.5bn, while parent-attributable profit declined 23.4% YoY to ¥23.4bn.
Financial highlights
Nine-month operating profit increased 69.0% to ¥154,917 million and parent-attributable profit increased 45.2% to ¥96,006 million.
Business profit margin rose to 15.2% from 11.5%; business profit before PPA amortization was ¥158.3bn, up 38.5%, with a 16.4% margin.
Q3 business profit before PPA amortization rose 30.6% to ¥55.1bn, with a 16.8% margin; operating profit rose 22.9% to ¥45.2bn.
Nine-month profit before tax was ¥143,027 million versus ¥88,359 million; gross profit increased to ¥374,363 million from ¥305,963 million.
Outlook and guidance
FY2026 guidance unchanged: revenue ¥1,320,000 million, business profit ¥192,500 million, operating profit ¥199,500 million, and parent-attributable profit ¥117,000 million.
FY2026 business profit before PPA amortization is forecast at ¥206.9bn with a 15.7% margin; business profit margin is forecast at 14.6%.
FY2026 basic EPS forecast is ¥744.11; annual dividend forecast is ¥223 per share, with no forecast revisions.
Segment forecasts: Tires revenue ¥790.0bn and business profit ¥137.0bn; OHT ¥413.0bn and ¥41.9bn; MB ¥107.0bn and ¥12.5bn.
Forecast assumptions include US$1=¥155, €1=¥175, TSR20 at 247 cents, and WTI at $91; actual results may differ with economic, market, and currency changes.
- Record 1H FY2026 profits and sales led to raised full-year guidance and higher dividends.5101
Q2 2026 - Profits surged on strong tire and OHT sales, cost cuts, and raised guidance and dividends.5101
Q1 2026 - Profit growth driven by innovation and synergies, with business profit set to reach JPY 70B by 2029.5101
Investor presentation - Fifth year of record profits, led by tire growth and Goodyear OTR deal, with more gains forecast.5101
Q4 2025 - Record sales and profit growth driven by strong tire and OHT demand, despite tariff risks.5101
Q3 2025 - Record sales and profit drive upward guidance and dividend, despite profit drop and higher debt.5101
Q2 2025 - Record profit and sales growth, robust tire demand, and share buyback announced.5101
Q3 2024 - Record H1 profit growth and a major OTR tire acquisition drive global expansion plans.5101
Q2 2024 - Revenue up 9% on tire and OTR gains, but profits fell sharply on acquisition costs.5101
Q1 2025
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