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Investing.com -- Yokohama Rubber reported second-quarter business profit of ¥38.0 billion, marking a 28% increase year-over-year and exceeding analyst forecasts of ¥29.5 billion.
The Japanese tire manufacturer’s performance surpassed market expectations that were already elevated following positive second-quarter results from other companies in the tire sector.
The company attributed the strong performance to robust sales of general tires for passenger cars and light trucks, along with successful cost improvement measures. Yokohama Rubber also anticipates recovery in its OHT (off-highway tires) segment for agricultural machinery and expects synergetic impacts.
Following these results, the company raised its full-year business profit target from ¥138.0 billion to ¥153.0 billion. However, the outlook for the second half of the year remains largely unchanged and appears conservative.
In its mid-term plan, the company has revised its dividend payout ratio target for fiscal year December 2026 from 20% to 30%, while maintaining the 20% target for fiscal year December 2025.
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