Upcoming Dividend • Jun 22
Upcoming dividend of JP¥62.00 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 14 September 2026. Payout ratio is a comfortable 19% but the company is paying out more than the cash it is generating. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.9%). Lower than average of industry peers (2.6%). Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥7,895, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Auto Components industry in Japan. Total returns to shareholders of 171% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥14,860 per share. Reported Earnings • May 17
First quarter 2026 earnings released: EPS: JP¥93.62 (vs JP¥53.73 in 1Q 2025) First quarter 2026 results: EPS: JP¥93.62 (up from JP¥53.73 in 1Q 2025). Revenue: JP¥303.8b (up 10% from 1Q 2025). Net income: JP¥14.7b (up 73% from 1Q 2025). Profit margin: 4.8% (up from 3.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Live News • May 16
Yokohama Rubber Lifts 2026 Forecast After Record Q1 Profit and Asset Sale Gain Yokohama Rubber reported record first-quarter sales and operating profit of ¥44.4b in 2026, supported by tire and off-highway tire demand, pricing, and cost controls.
The company raised its full-year 2026 earnings forecast and plans to increase its annual dividend following a strong Q1 profit surge and improved margins.
Management also lifted the FY2026 profit outlook earlier on a ¥30b gain from the sale of a former Israel plant and ongoing cost control measures, while keeping sales guidance and the dividend forecast under review.
Taken together, the stronger Q1 profitability, higher full-year earnings guidance, and planned dividend increase point to management confidence in the current earnings profile and in the progress of the YX2026 plan.
Investors may want to watch how one-off gains from asset sales compare with underlying tire and OHT profit trends, as well as any financial impact from geopolitical developments in the Middle East that the company is monitoring. Announcement • May 16
The Yokohama Rubber Company, Limited to Report First Half, 2026 Results on Aug 10, 2026 The Yokohama Rubber Company, Limited announced that they will report first half, 2026 results on Aug 10, 2026 Declared Dividend • Apr 11
Final dividend of JP¥62.00 announced Shareholders will receive a dividend of JP¥62.00. Ex-date: 29th June 2026 Payment date: 14th September 2026 Dividend yield will be 2.3%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (20% earnings payout ratio) but not covered by cash flows (116% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥6,586, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Auto Components industry in Japan. Total returns to shareholders of 167% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥6,131 per share. Reported Earnings • Feb 20
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥669 (up from JP¥468 in FY 2024). Revenue: JP¥1.23t (up 13% from FY 2024). Net income: JP¥105.4b (up 41% from FY 2024). Profit margin: 8.5% (up from 6.8% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 20
The Yokohama Rubber Company, Limited to Report Q1, 2026 Results on May 15, 2026 The Yokohama Rubber Company, Limited announced that they will report Q1, 2026 results on May 15, 2026 Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥7,954, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Auto Components industry in Japan. Total returns to shareholders of 229% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥6,076 per share. Announcement • Feb 19
The Yokohama Rubber Company, Limited, Annual General Meeting, Mar 27, 2026 The Yokohama Rubber Company, Limited, Annual General Meeting, Mar 27, 2026. Buy Or Sell Opportunity • Feb 19
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 30% to JP¥7,660. The fair value is estimated to be JP¥6,065, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 4.6% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥64.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 31 March 2026. Payout ratio is a comfortable 20% and the cash payout ratio is 91%. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.8%). Announcement • Nov 22
The Yokohama Rubber Company, Limited to Report Fiscal Year 2025 Results on Feb 19, 2026 The Yokohama Rubber Company, Limited announced that they will report fiscal year 2025 results on Feb 19, 2026 Reported Earnings • Nov 15
Third quarter 2025 earnings: Revenues and EPS in line with analyst expectations Third quarter 2025 results: EPS: JP¥194 (up from JP¥88.94 in 3Q 2024). Revenue: JP¥298.0b (up 16% from 3Q 2024). Net income: JP¥30.6b (up 115% from 3Q 2024). Profit margin: 10% (up from 5.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Sep 13
First half dividend of JP¥64.00 announced Shareholders will receive a dividend of JP¥64.00. Ex-date: 29th December 2025 Payment date: 31st March 2026 Dividend yield will be 1.9%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (25% earnings payout ratio) but not covered by cash flows (236% cash payout ratio). The dividend has increased by an average of 8.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 56% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 06
The Yokohama Rubber Company, Limited to Report Q3, 2025 Results on Nov 14, 2025 The Yokohama Rubber Company, Limited announced that they will report Q3, 2025 results on Nov 14, 2025 Price Target Changed • Aug 30
Price target increased by 7.1% to JP¥5,199 Up from JP¥4,854, the current price target is an average from 10 analysts. New target price is 5.4% below last closing price of JP¥5,496. Stock is up 65% over the past year. The company is forecast to post earnings per share of JP¥546 for next year compared to JP¥468 last year. Reported Earnings • Aug 13
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: JP¥172 (up from JP¥167 in 2Q 2024). Revenue: JP¥304.1b (up 11% from 2Q 2024). Net income: JP¥27.0b (flat on 2Q 2024). Profit margin: 8.9% (in line with 2Q 2024). Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥5,125, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Auto Components industry in Japan. Total returns to shareholders of 148% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥8,973 per share. New Risk • Jul 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (272% cash payout ratio). Share price has been volatile over the past 3 months (7.2% average weekly change). Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥3,965, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Auto Components industry in Japan. Total returns to shareholders of 138% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥7,571 per share. Price Target Changed • Jun 26
Price target increased by 7.8% to JP¥4,424 Up from JP¥4,104, the current price target is an average from 10 analysts. New target price is 21% above last closing price of JP¥3,669. Stock is up 4.1% over the past year. The company is forecast to post earnings per share of JP¥513 for next year compared to JP¥468 last year. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥48.00 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 01 September 2025. Payout ratio is a comfortable 25% but the company is paying out more than the cash it is generating. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (4.0%). Lower than average of industry peers (3.7%). Announcement • May 30
The Yokohama Rubber Company, Limited to Report First Half, 2025 Results on Aug 12, 2025 The Yokohama Rubber Company, Limited announced that they will report first half, 2025 results on Aug 12, 2025 Reported Earnings • May 16
First quarter 2025 earnings released: EPS: JP¥53.73 (vs JP¥123 in 1Q 2024) First quarter 2025 results: EPS: JP¥53.73 (down from JP¥123 in 1Q 2024). Revenue: JP¥275.1b (up 9.0% from 1Q 2024). Net income: JP¥8.53b (down 57% from 1Q 2024). Profit margin: 3.1% (down from 7.8% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Apr 11
Final dividend of JP¥48.00 announced Shareholders will receive a dividend of JP¥48.00. Ex-date: 27th June 2025 Payment date: 1st September 2025 Dividend yield will be 3.6%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but not adequately covered by cash flows (97% cash payout ratio). The dividend has increased by an average of 6.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Apr 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (97% cash payout ratio). Share price has been volatile over the past 3 months (5.6% average weekly change). Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥2,860, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Auto Components industry in Japan. Total returns to shareholders of 90% over the past three years. Announcement • Mar 06
The Yokohama Rubber Company, Limited to Report Q1, 2025 Results on May 15, 2025 The Yokohama Rubber Company, Limited announced that they will report Q1, 2025 results on May 15, 2025 Reported Earnings • Feb 20
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥468 (up from JP¥419 in FY 2023). Revenue: JP¥1.09t (up 11% from FY 2023). Net income: JP¥74.9b (up 11% from FY 2023). Profit margin: 6.8% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.4%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 04
The Yokohama Rubber Company, Limited (TSE:5101) completed the acquisition of Nippon Giant Tire Co. Ltd. and Goodyear Earthmover Pty Limited and certain other assets from The Goodyear Tire & Rubber Company. The Yokohama Rubber Company, Limited (TSE:5101) agreed to acquire Nippon Giant Tire Co. Ltd. and Goodyear Earthmover Pty Limited and certain other assets from The Goodyear Tire & Rubber Company for approximately $910 million on July 22, 2024. A cash consideration of $905 million will be paid by The Yokohama Rubber Company, Limited. The transaction follows a previously announced strategic review of the OTR tire business in connection with the Goodyear Forward transformation plan. Goodyear will retain its business providing OTR tires for U.S. military and defense applications. Pursuant to a Product Supply Agreement to be entered into with Yokohama in connection with the closing of the transaction, Goodyear will manufacture certain OTR tires for Yokohama at some of its manufacturing locations for an initial period of up to five years after the closing of the transaction. If Closing has not occurred on or prior to July 22, 2025, the Buyer will also be required to pay or cause to be paid to the Company a fee of $47.5 million if the Agreement is validly terminated by either the Buyer or the Company due to a failure to receive certain antitrust approvals on or prior to the Outside Date. The transaction is subject to regulatory approvals, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, other customary closing conditions and consultations and is expected to close by early 2025. Goodyear intends to use transaction proceeds to reduce leverage and fund initiatives in connection with the Goodyear Forward transformation plan. The business reported total revenue of $674 million, EBITDA of $130 million, total assets of $494 million and net assets of $344 million in December 2023. As of January 31, 2025 The Yokohama Rubber Company, Limited (TSE:5101) has obtained loan of $907.573 million and the scheduled borrowing date is February 3, 2025.
Evercore is acting as exclusive financial advisor and Sullivan & Cromwell LLP is acting as legal advisor to Goodyear. Freshfields Bruckhaus Deringer in Japan and Freshfields Bruckhaus Deringer US LLP led by Paul Tiger, Sebastian Fain, Takeshi Nakao and Noah Carr acted as legal advisor to Yokohama. Houlihan Lokey acted as the financial advisor to The Yokohama Rubber Company.
The Yokohama Rubber Company, Limited (TSE:5101) completed the acquisition of Nippon Giant Tire Co. Ltd. and Goodyear Earthmover Pty Limited and certain other assets from The Goodyear Tire & Rubber Company on February 3, 2025. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥52.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 31 March 2025. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (3.4%). Announcement • Nov 15
The Yokohama Rubber Company, Limited (TSE:5101) announces an Equity Buyback for 1,314,700 shares, for ¥5,000 million. The Yokohama Rubber Company, Limited (TSE:5101) announces a share repurchase program. Under the program, the company will repurchase up to 1,314,700 shares, representing 0.78% of its issued share capital (excluding treasury stock) for ¥5,000 million. The purpose of the program is to enhance capital efficiency and support the company's growth strategy. The program will be valid till November 20, 2024. As of June 30, 2024, the company had 169,549,081 shares outstanding and 8,752,591 treasury shares. Reported Earnings • Nov 15
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: JP¥88.94 (down from JP¥105 in 3Q 2023). Revenue: JP¥257.6b (up 3.3% from 3Q 2023). Net income: JP¥14.3b (down 16% from 3Q 2023). Profit margin: 5.5% (down from 6.8% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 30%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 16% per year. Announcement • Nov 15
The Yokohama Rubber Company, Limited to Report Fiscal Year 2024 Results on Feb 19, 2025 The Yokohama Rubber Company, Limited announced that they will report fiscal year 2024 results on Feb 19, 2025 Announcement • Aug 23
The Yokohama Rubber Company, Limited to Report Q3, 2024 Results on Nov 14, 2024 The Yokohama Rubber Company, Limited announced that they will report Q3, 2024 results on Nov 14, 2024 Declared Dividend • Aug 11
First half dividend of JP¥52.00 announced Shareholders will receive a dividend of JP¥52.00. Ex-date: 27th December 2024 Payment date: 31st March 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (7% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 8.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 5.5% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 10
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥167 (up from JP¥112 in 2Q 2023). Revenue: JP¥272.9b (up 14% from 2Q 2023). Net income: JP¥26.8b (up 49% from 2Q 2023). Profit margin: 9.8% (up from 7.5% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) also surpassed analyst estimates by 77%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 15% per year. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (47% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥2,691, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Auto Components industry in Japan. Total returns to shareholders of 41% over the past three years. Announcement • Jul 31
The Yokohama Rubber Company, Limited Revises the Consolidated Earnings Forecast for the First Half of the Fiscal Year Ending December 2024 The Yokohama Rubber Company, Limited revised the consolidated earnings forecast for the first half of the fiscal year ending December 2024. The company now expects sales revenue of ¥525,000 million against previous guidance of ¥500,000 million and operating profit of ¥56,000 million against a previous guidance of ¥43,000 million. Profit attributable to owners of the parent of ¥46,500 million previous guidance of ¥25,500 million; Basic earnings per share are now expected to be ¥290.01 against previous guidance of ¥158.63. Announcement • Jul 23
The Yokohama Rubber Company, Limited (TSE:5101) agreed to acquire Nippon Giant Tire Co. Ltd. and Goodyear Earthmover Pty Limited and certain other assets from The Goodyear Tire & Rubber Company for approximately $910 million. The Yokohama Rubber Company, Limited (TSE:5101) agreed to acquire Nippon Giant Tire Co. Ltd. and Goodyear Earthmover Pty Limited and certain other assets from The Goodyear Tire & Rubber Company for approximately $910 million on July 22, 2024. A cash consideration of $905 million will be paid by The Yokohama Rubber Company, Limited. The transaction follows a previously announced strategic review of the OTR tire business in connection with the Goodyear Forward transformation plan. Goodyear will retain its business providing OTR tires for U.S. military and defense applications. Pursuant to a Product Supply Agreement to be entered into with Yokohama in connection with the closing of the transaction, Goodyear will manufacture certain OTR tires for Yokohama at some of its manufacturing locations for an initial period of up to five years after the closing of the transaction. If Closing has not occurred on or prior to July 22, 2025, the Buyer will also be required to pay or cause to be paid to the Company a fee of $47.5 million if the Agreement is validly terminated by either the Buyer or the Company due to a failure to receive certain antitrust approvals on or prior to the Outside Date. The transaction is subject to regulatory approvals, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, other customary closing conditions and consultations and is expected to close by early 2025. Goodyear intends to use transaction proceeds to reduce leverage and fund initiatives in connection with the Goodyear Forward transformation plan. The business reported total revenue of $674 million, EBITDA of $130 million, total assets of $494 million and net assets of $344 million in December 2023.
Evercore is acting as exclusive financial advisor and Sullivan & Cromwell LLP is acting as legal advisor to Goodyear. Announcement • Jul 11
Yokohama Rubber Reportedly in Talks to Buy Goodyear's Off-Road Tyre Business for at Least $1 Billion The Yokohama Rubber Company, Limited (TSE:5101) is in advanced talks to buy The Goodyear Tire & Rubber Company (NasdaqGS:GT)’s Off-the-Road tire business for at least $1 billion, according to people familiar with the matter. The Japanese company has emerged as the likeliest buyer for Goodyear’s OTR business after other suitors dropped out, the people said, asking not to be identified discussing confidential information. A transaction could value the assets at $1 billion to $1.5 billion, the people said. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥42.00 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 02 September 2024. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (3.1%). Announcement • Jun 08
The Yokohama Rubber Company, Limited to Report Q2, 2024 Results on Aug 09, 2024 The Yokohama Rubber Company, Limited announced that they will report Q2, 2024 results on Aug 09, 2024 Reported Earnings • May 15
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: JP¥123 (up from JP¥60.53 in 1Q 2023). Revenue: JP¥252.4b (up 24% from 1Q 2023). Net income: JP¥19.8b (up 104% from 1Q 2023). Profit margin: 7.8% (up from 4.8% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Apr 11
Final dividend of JP¥42.00 announced Shareholders will receive a dividend of JP¥42.00. Ex-date: 27th June 2024 Payment date: 2nd September 2024 Dividend yield will be 2.3%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 7.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Apr 02
Price target increased by 7.8% to JP¥4,229 Up from JP¥3,921, the current price target is an average from 7 analysts. New target price is 12% above last closing price of JP¥3,781. Stock is up 37% over the past year. The company is forecast to post earnings per share of JP¥473 for next year compared to JP¥419 last year. Price Target Changed • Mar 19
Price target increased by 12% to JP¥4,150 Up from JP¥3,707, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of JP¥4,118. Stock is up 68% over the past year. The company is forecast to post earnings per share of JP¥468 for next year compared to JP¥419 last year. Announcement • Feb 29
The Yokohama Rubber Company, Limited to Report Q1, 2024 Results on May 14, 2024 The Yokohama Rubber Company, Limited announced that they will report Q1, 2024 results on May 14, 2024 Reported Earnings • Feb 19
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: JP¥419 (up from JP¥286 in FY 2022). Revenue: JP¥985.3b (up 14% from FY 2022). Net income: JP¥67.2b (up 46% from FY 2022). Profit margin: 6.8% (up from 5.3% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 1.7%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 18
The Yokohama Rubber Company, Limited, Annual General Meeting, Mar 28, 2024 The Yokohama Rubber Company, Limited, Annual General Meeting, Mar 28, 2024. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥34.00 per share at 2.1% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 01 April 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (3.0%). Announcement • Dec 08
The Yokohama Rubber Company, Limited to Report Fiscal Year 2023 Results on Feb 16, 2024 The Yokohama Rubber Company, Limited announced that they will report fiscal year 2023 results on Feb 16, 2024 Announcement • Nov 15
the Yokohama Rubber Co., Ltd. Provides Revenue Guidance for the Full Fiscal Year of December 31, 2023 The Yokohama Rubber Co. Ltd. provided revenue guidance for the full fiscal year of December 31, 2023. For the period, the company expects sales revenues of JPY 1,000,000 Million, Operating profit of JPY 92,500 Million, Profit attributable to owners of parent of JPY 62,500 Million and Basic earnings per share JPY 388.81. Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: JP¥105 (vs JP¥62.22 in 3Q 2022) Third quarter 2023 results: EPS: JP¥105 (up from JP¥62.22 in 3Q 2022). Revenue: JP¥249.3b (up 11% from 3Q 2022). Net income: JP¥16.9b (up 69% from 3Q 2022). Profit margin: 6.8% (up from 4.4% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 22
The Yokohama Rubber Co., Ltd. to Report Q3, 2023 Results on Nov 10, 2023 The Yokohama Rubber Co., Ltd. announced that they will report Q3, 2023 results on Nov 10, 2023 
