The Yokohama Rubber Company (5101) Q3 2026 earnings summary

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.