Supplementary Information of 2022 Q3
The Yokohama Rubber Co., Ltd.
November 11, 2022
Year-on-Year Tire Sales Growth (%) | 2021 | 2022 1Q | 2022 2Q | 2022 3Q | 2022 | |||||||||||||
Actual | Actual | Actual | Actual | Projection | ||||||||||||||
Japan | OE | 93% | 88% | 80% | 120% | 100% | ||||||||||||
REP | 105% | 124% | 106% | 124% | 107% | |||||||||||||
North America | 116% | 106% | 99% | 108% | 104% | |||||||||||||
Europe | 122% | 120% | 110% | 109% | 104% | |||||||||||||
Russia | 110% | 97% | 31% | 54% | 58% | |||||||||||||
China | 106% | 105% | 94% | 123% | 110% | |||||||||||||
Asia | 130% | 107% | 137% | 126% | 119% | |||||||||||||
Other | 127% | 87% | 106% | 115% | 97% | |||||||||||||
Total | 110% | 107% | 99% | 116% | 105% | |||||||||||||
Annual Tire Sales Composition Ratio (%) | 2021 | 2022 1Q | 2022 2Q | 2022 3Q | 2022 | |||||||||||||
Actual | Actual | Actual | Actual | Projection | ||||||||||||||
Japan | OE | 12% | 12% | 11% | 12% | 12% | ||||||||||||
REP | 26% | 26% | 25% | 23% | 26% | |||||||||||||
North America | 20% | 20% | 21% | 21% | 20% | |||||||||||||
Europe | 7% | 6% | 7% | 7% | 7% | |||||||||||||
Russia | 4% | 3% | 1% | 2% | 2% | |||||||||||||
China | 17% | 17% | 16% | 17% | 17% | |||||||||||||
Asia | 10% | 11% | 13% | 12% | 11% | |||||||||||||
Other | 5% | 4% | 6% | 5% | 5% | |||||||||||||
Total | 100% | 100% | 100% | 100% | 100% | |||||||||||||
Tire Production Rubber Amount (1,000t) | 2021 | 2022 1Q | 2022 2Q | 2022 3Q | 2022 | |||||||||||||
Actual | Actual | Actual | Actual | Projection | ||||||||||||||
Japan | 147 | 37 | 39 | 38 | 153 | |||||||||||||
Overseas | 177 | 48 | 44 | 47 | 184 | |||||||||||||
Total | 325 | 84 | 83 | 85 | 337 | |||||||||||||
(1)Quarter of the year | ||||||||||||||||||
Unit | 2021 | 2022 | ||||||||||||||||
1H | YoY | FY | YoY | 1H | YoY | 1-3Q | YoY | |||||||||||
Profit and Loss | 1Q | 2Q | Actual | Change | 3Q | 4Q | Actual | Change | 1Q | 2Q | Actual | Change | 3Q | Actual | Change | |||
Sales revenue | Billion | 144.6 | 159.3 | 303.9 | +65.9 | 156.6 | 210.4 | 670.8 | +119.7 | 185.6 | 205.9 | 391.5 | +87.6 | 224.3 | 615.8 | +155.3 | ||
Business profit | Billion | 14.0 | 12.3 | 26.3 | +24.3 | 10.8 | 25.0 | 62.2 | +26.3 | 13.7 | 14.1 | 27.7 | +1.4 | 18.4 | 46.1 | +9.0 | ||
Business | profit margin | % | 9.7% | 7.7% | 8.7% | +7.8% | 6.9% | 11.9% | 9.3% | +2.8% | 7.4% | 6.8% | 7.1% | -1.6% | 8.2% | 7.5% | -0.6% | |
Operating profit | Billion | 36.3 | 12.3 | 48.6 | +45.6 | 10.7 | 24.3 | 83.6 | +47.6 | 13.5 | 13.4 | 26.9 | -21.7 | 18.4 | 45.3 | -14.0 | ||
Profit attributable to owners of parent | Billion | 27.8 | 9.1 | 36.9 | +35.7 | 6.5 | 22.0 | 65.5 | +39.2 | 10.2 | 13.2 | 23.3 | -13.6 | 10.0 | 33.3 | -10.2 | ||
Factor Analysis of Business Profit (YoY) | ||||||||||||||||||
Exchange rate difference | Billion | +0.5 | +1.4 | +1.9 | +0.8 | +1.6 | +4.4 | +1.3 | +4.1 | +5.4 | +4.3 | +9.6 | ||||||
Raw material prices | Billion | +2.2 | -2.4 | -0.2 | -6.6 | -9.3 | -16.1 | -9.1 | -8.2 | -17.3 | -9.3 | -26.7 | ||||||
Volume, Prices/ MIX, Special factor | Billion | +4.1 | +2.9 | +7.0 | +9.6 | +7.8 | +24.4 | +9.2 | +4.7 | +13.9 | +14.1 | +28.0 | ||||||
Production costs | Billion | +0.9 | +6.5 | +7.4 | -0.2 | -0.7 | +6.5 | -0.4 | +0 | -0.4 | -1.0 | -1.4 | ||||||
Fixed cost | Billion | +2.1 | -0 | +2.1 | -0.2 | -2.3 | -0.5 | -1.6 | -2.0 | -3.6 | -2.0 | -5.6 | ||||||
YOHT | Billion | +1.9 | +3.1 | +4.9 | +1.6 | +6.5 | ||||||||||||
MB, ATG, Others | Billion | +2.7 | +3.3 | +6.0 | +0.6 | +1.0 | +7.6 | -1.6 | +0.1 | -1.6 | -0 | -1.6 | ||||||
Total | Billion | +12.5 | +11.8 | +24.3 | +3.9 | -1.9 | +26.3 | -0.3 | +1.8 | +1.4 | +7.6 | +9.0 | ||||||
Business Segment | ||||||||||||||||||
Tire | Sales revenue | Billion | 101.4 | 109.6 | 211.0 | +44.4 | 106.3 | 152.8 | 470.2 | +71.0 | 126.5 | 135.6 | 262.1 | +51.1 | 157.2 | 419.3 | +101.9 | |
Business profit | Billion | 9.2 | 7.0 | 16.3 | +18.3 | 5.8 | 20.5 | 42.7 | +18.7 | 8.6 | 5.7 | 14.3 | -1.9 | 11.8 | 26.1 | +4.1 | ||
Business profit margin | % | 9.1% | 6.4% | 7.7% | +8.9% | 5.5% | 13.4% | 9.1% | +3.1% | 6.8% | 4.2% | 5.5% | -2.2% | 7.5% | 6.2% | -0.7% | ||
YOHT | Sales revenue | Billion | 22.5 | 25.7 | 48.2 | +18.2 | 28.5 | 30.6 | 107.3 | +42.2 | 36.4 | 42.8 | 79.1 | +30.9 | 41.0 | 120.1 | +43.4 | |
Business profit | Billion | 3.5 | 3.6 | 7.1 | +3.9 | 4.1 | 3.5 | 14.7 | +5.9 | 5.4 | 6.7 | 12.1 | +4.9 | 5.7 | 17.7 | +6.5 | ||
Business profit margin | % | 15.5% | 14.1% | 14.8% | +4.0% | 14.3% | 11.5% | 13.7% | +0.2% | 14.8% | 15.6% | 15.2% | +0.5% | 13.9% | 14.8% | +0.2% | ||
Tire | Sales revenue | Billion | 124.0 | 135.3 | 259.2 | 134.8 | 162.9 | 178.3 | 341.2 | +82.0 | 198.2 | 539.4 | +145.3 | |||||
total | Business profit | Billion | 12.7 | 10.6 | 23.4 | 9.9 | 14.0 | 12.4 | 26.4 | +3.0 | 17.5 | 43.8 | +10.5 | |||||
Business profit margin | % | 10.3% | 7.8% | 9.0% | 7.3% | 8.6% | 6.9% | 7.7% | -1.3% | 8.8% | 8.1% | -0.3% | ||||||
MB | Sales revenue | Billion | 18.7 | 21.5 | 40.2 | +1.8 | 19.5 | 24.7 | 84.4 | +5.4 | 20.5 | 24.7 | 45.1 | +4.9 | 23.4 | 68.6 | +8.9 | |
Business profit | Billion | 1.0 | 1.1 | 2.1 | +0.9 | 0.5 | 1.1 | 3.8 | +0.9 | -0.2 | +1.2 | +1.0 | -1.1 | 0.7 | 1.7 | -0.9 | ||
Business profit margin | % | 5.4% | 5.1% | 5.2% | +2.2% | 2.8% | 4.6% | 4.5% | +0.8% | -1.2% | 5.0% | 2.2% | -3.0% | 3.1% | 2.5% | -1.9% | ||
Geographical Segment (by Customer Location) | ||||||||||||||||||
Tire | Japan | Billion | 40.6 | 39.0 | 79.6 | +7.2 | 34.0 | 68.7 | 182.3 | +7.4 | 46.0 | 38.9 | 84.9 | +5.3 | 42.9 | 127.8 | +14.2 | |
North America | Billion | 26.3 | 32.2 | 58.5 | +12.8 | 34.0 | 36.7 | 129.3 | +23.6 | 37.5 | 46.9 | 84.5 | +25.9 | 56.4 | 140.9 | +48.3 | ||
Asia | Billion | 18.9 | 19.3 | 38.2 | +14.7 | 19.1 | 24.8 | 82.0 | +20.3 | 24.2 | 27.7 | 51.9 | +13.8 | 31.1 | 83.0 | +25.8 | ||
Other regions | Billion | 15.7 | 19.0 | 34.7 | +9.8 | 19.3 | 22.6 | 76.6 | +19.8 | 18.7 | 22.1 | 40.8 | +6.1 | 26.8 | 67.6 | +13.6 | ||
YOHT | Japan | Billion | 0 | 0 | 0.1 | -0 | 0 | 0 | 0.1 | +0 | 0 | 0.1 | 0.1 | +0 | 0 | 0.1 | +0 | |
North America | Billion | 11.3 | 13.5 | 24.8 | +11.5 | 14.1 | 15.2 | 54.1 | +25.7 | 19.2 | 23.0 | 42.3 | +17.5 | 22.5 | 64.7 | +25.8 | ||
Asia | Billion | 1.5 | 1.6 | 3.1 | +1.3 | 1.1 | 1.4 | 5.7 | +1.2 | 1.2 | 1.4 | 2.6 | -0.6 | 1.5 | 4.1 | -0.2 | ||
Other regions | Billion | 9.7 | 10.5 | 20.2 | +5.4 | 13.2 | 13.9 | 47.3 | +15.2 | 15.9 | 18.4 | 34.2 | +13.9 | 17.0 | 51.2 | +17.8 | ||
Tire | Japan | Billion | 40.6 | 39.1 | 79.7 | 46.1 | 38.9 | 85.0 | +5.3 | 42.9 | 127.9 | +48.2 | ||||||
total | North America | Billion | 37.6 | 45.7 | 83.3 | 56.8 | 69.9 | 126.7 | +43.4 | 78.9 | 205.6 | +122.3 | ||||||
Asia | Billion | 20.4 | 20.9 | 41.3 | 25.4 | 29.1 | 54.5 | +13.2 | 32.5 | 87.1 | +45.8 | |||||||
Other regions | Billion | 25.4 | 29.6 | 54.9 | 34.6 | 40.4 | 75.0 | +20.0 | 43.8 | 118.8 | +63.9 | |||||||
MB | Japan | Billion | 10.3 | 12.8 | 23.1 | -0.1 | 11.0 | 14.5 | 48.7 | +2.7 | 11.7 | 13.0 | 24.7 | +1.6 | 11.8 | 36.6 | +2.4 | |
North America | Billion | 4.0 | 3.8 | 7.8 | +1.2 | 4.2 | 4.3 | 16.3 | +1.1 | 4.6 | 6.1 | 10.7 | +2.9 | 6.5 | 17.1 | +5.1 | ||
Asia | Billion | 3.6 | 3.7 | 7.3 | +2.0 | 3.3 | 4.1 | 14.7 | +2.5 | 3.1 | 4.5 | 7.6 | +0.3 | 3.7 | 11.3 | +0.7 | ||
Other regions | Billion | 0.9 | 1.1 | 2.0 | -1.4 | 1.0 | 1.9 | 4.8 | -0.9 | 1.1 | 1.0 | 2.2 | +0.2 | 1.4 | 3.6 | +0.6 | ||
Other | Japan | Billion | 1.5 | 1.8 | 3.4 | +1.0 | 1.6 | 1.6 | 6.6 | +0.4 | 1.7 | 1.8 | 3.4 | +0.1 | 1.8 | 5.3 | +0.3 | |
North America | Billion | 0 | 0.1 | 0.1 | +0.1 | 0.1 | 0.1 | 0.3 | +0.1 | 0 | 0.2 | 0.2 | +0.1 | 0.1 | 0.2 | +0 | ||
Asia | Billion | 0.3 | 0.6 | 0.9 | +0.4 | 0.6 | 0.5 | 2.0 | +0.6 | 0.5 | 1.0 | 1.5 | +0.6 | 0.8 | 2.3 | +0.8 | ||
Other regions | Billion | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
Geographical Segment | ||||||||||||||||||
Japan | Billion | 59.8 | 63.4 | 123.3 | 54.9 | 95.9 | 274.1 | 66.8 | 67.7 | 134.5 | 69.2 | 203.8 | ||||||
North America | Billion | 31.9 | 37.8 | 69.8 | 40.3 | 43.4 | 153.5 | 43.9 | 54.1 | 97.9 | 64.3 | 162.3 | ||||||
Asia | Billion | 23.0 | 23.6 | 46.5 | 23.0 | 29.0 | 98.5 | 28.8 | 31.9 | 60.7 | 36.0 | 96.8 | ||||||
Other regions | Billion | 29.9 | 34.4 | 64.3 | 38.4 | 42.0 | 144.7 | 46.1 | 52.2 | 98.3 | 54.7 | 153.0 | ||||||
Capital expenditures | Billion | 17.5 | 38.8 | 12.9 | 14.1 | 27.0 | 15.0 | 41.9 | ||||||||||
Depreciation & Amortization | Billion | 18.9 | 38.3 | 9.8 | 10.2 | 20.0 | 10.9 | 30.9 | ||||||||||
R&D expenses | Billion | 7.6 | 15.3 | 3.8 | 4.2 | 8.0 | 3.7 | 11.7 |
*The figures presented here are net of expenditures for and amortization of lease assets as of 2019.
*Forecasts shown above are based on currently available information. Actual results may differ due to various factors in the future.
(2)Full year
Unit | 2019 | 2020 | 2021 | 2022 | |||||||
Profit and Loss | Actual | YoY | Actual | YoY | Actual | YoY | FY | YoY | |||
Change | Change | Change | Projection | Change | |||||||
Sales revenue | Billion | 650.5 | +0.2 | 551.1 | -99.4 | 670.8 | +119.7 | 855.0 | +184.2 | ||
Business profit | Billion | 50.1 | -9.1 | 35.9 | -14.3 | 62.2 | +26.3 | 62.5 | +0.3 | ||
Business profit margin | % | 7.7% | -1.4% | 6.5% | -1.2% | 9.3% | +2.8% | 7.3% | -2.0% | ||
Operating profit | Billion | 58.6 | +5.1 | 36.0 | -22.6 | 83.6 | +47.6 | 60.5 | -23.1 | ||
Profit attributable to owners of parent | Billion | 42.0 | +6.3 | 26.3 | -15.7 | 65.5 | +39.2 | 42.0 | -23.5 | ||
Factor Analysis of Business Profit (YoY) | |||||||||||
Exchange rate difference | Billion | -2.6 | -0.8 | +4.4 | +9.9 | ||||||
Raw material prices | Billion | +3.1 | +12.4 | -16.1 | -35.8 | ||||||
Volume, Prices/ MIX, Special factor | Billion | -7.0 | -18.6 | +24.4 | +32.4 | ||||||
Production costs | Billion | -3.1 | -8.1 | +6.5 | -3.0 | ||||||
Fixed cost | Billion | -1.9 | +8.1 | -0.5 | -8.0 | ||||||
YOHT | Billion | +5.5 | |||||||||
MB, ATG, Others | Billion | +2.4 | -7.4 | +7.6 | -0.6 | ||||||
Total | Billion | -9.1 | -14.3 | +26.3 | +0.3 | ||||||
Business Segment | |||||||||||
Tire | Sales revenue | Billion | 451.7 | -3.1 | 399.2 | -52.5 | 470.2 | +71.0 | 587.0 | +116.8 | |
Business profit | Billion | 30.8 | -11.5 | 24.0 | -6.8 | 42.7 | +18.7 | 38.0 | -4.7 | ||
Business profit margin | % | 6.8% | -2.5% | 6.0% | -0.8% | 9.1% | +3.1% | 6.5% | -2.6% | ||
YOHT | Sales revenue | Billion | 70.8 | +2.1 | 65.1 | -5.7 | 107.3 | +42.2 | 161.0 | +53.7 | |
Business profit | Billion | 10.4 | +1.9 | 8.8 | -1.6 | 14.7 | +5.9 | 20.2 | +5.5 | ||
Business profit margin | % | 14.7% | +2.4% | 13.5% | -1.2% | 13.7% | +0.2% | 12.5% | -1.2% | ||
Tire | Sales revenue | Billion | 748.0 | ||||||||
total | Business profit | Billion | 58.2 | ||||||||
Business profit margin | % | 7.8% | |||||||||
MB | Sales revenue | Billion | 119.3 | +1.6 | 79.0 | -40.3 | 84.4 | +5.4 | 97.0 | +12.6 | |
Business profit | Billion | 8.3 | +0.9 | 2.9 | -5.4 | 3.8 | +0.9 | 5.4 | +1.6 | ||
Business profit margin | % | 7.0% | +0.7% | 3.7% | -3.3% | 4.5% | +0.8% | 5.6% | +1.1% | ||
Geographical Segment (by Customer Location) | |||||||||||
Tire | Japan | Billion | 190.9 | -3.9 | 174.9 | -16.0 | 182.3 | +7.4 | |||
North America | Billion | 121.4 | -0.1 | 105.7 | -15.7 | 129.3 | +23.6 | ||||
Asia | Billion | 69.9 | +0.4 | 61.8 | -8.1 | 82.0 | +20.3 | ||||
Other regions | Billion | 69.6 | +0.4 | 56.8 | -12.8 | 76.6 | +19.8 | ||||
YOHT | Japan | Billion | 0.5 | +0.3 | 0.1 | -0.4 | 0.1 | +0 | |||
North America | Billion | 30.6 | -1.7 | 28.4 | -2.2 | 54.1 | +25.7 | ||||
Asia | Billion | 4.3 | +0.6 | 4.5 | +0.2 | 5.7 | +1.2 | ||||
Other regions | Billion | 35.4 | +2.9 | 32.1 | -3.3 | 47.3 | +15.2 | ||||
MB | Japan | Billion | 71.5 | +0.9 | 45.9 | -25.5 | 48.7 | +2.7 | |||
North America | Billion | 22.8 | +2.7 | 15.2 | -7.6 | 16.3 | +1.1 | ||||
Asia | Billion | 16.9 | -1.7 | 12.2 | -4.8 | 14.7 | +2.5 | ||||
Other regions | Billion | 8.2 | -0.4 | 5.7 | -2.5 | 4.8 | -0.9 | ||||
Other | Japan | Billion | 7.4 | -0.2 | 6.2 | -1.1 | 6.6 | +0.4 | |||
North America | Billion | 0.1 | +0 | 0.1 | +0.1 | 0.3 | +0.1 | ||||
Asia | Billion | 1.2 | -0.2 | 1.4 | +0.2 | 2.0 | +0.6 | ||||
Other regions | Billion | - | - | - | - | - | - | ||||
Capital expenditures | Billion | 51.3 | 28.4 | 38.8 | 57.6 | ||||||
Depreciation & Amortization | Billion | 36.0 | 37.5 | 38.3 | 40.7 | ||||||
R&D expenses | Billion | 15.0 | 14.1 | 12.0 |
*The figures presented here are net of expenditures for and amortization of lease assets as of 2019.
*FY2020 results do not include the Hamatite business, which has been reclassified as a "discontinued operation". *From fiscal 2022, the results of ATG are included in the tire business. ATG's results are shown for reference.
*Forecasts shown above are based on currently available information. Actual results may differ due to various factors in the future.
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YRC - Yokohama Rubber Co. Ltd. published this content on 11 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2022 04:41:05 UTC.