Yokohama Rubber : Earnings Report Consolidated Financial Result 335 (tan26 2Q en)

August 10, 2026

Company name: The Yokohama Rubber Co., Ltd. Listing: Tokyo Stock Exchange Securities code: 5101

URL: https://www.y-yokohama.com/global/

Representative: Masataka Yamaishi, Chairman & CEO, Chairman of the Board

Inquiries: Masahiro Ogahara, General Manager and Head of Corporate Finance & Accounting Dept. Telephone: +81-463-63-0414

Scheduled date to file semi-annual securities report: August 10, 2026

Scheduled date to commence dividend payments: September 11, 2026 Preparation of supplementary material on financial results: Yes

Holding of financial results briefing: Yes (for analysts)

(Yen amounts are rounded to the nearest million yen.)

1. Consolidated financial results for the six months ended June 30, 2026 (from January 1, 2026 to June 30, 2026)

   1. Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)

      	Sales revenue		Business profit		Operating profit		Profit attributable to owners of the parent		Total comprehensive income
      Six months ended June 30, 2026 Six months ended June 30, 2025	Millions of yen 639,397 579,201	% 10.4 10.3	Millions of yen 95,846 62,119	% 54.3 13.8	Millions of yen 109,699 54,858	% 100.0 (2.5)	Millions of yen 72,578 35,535	% 104.2 (23.7)	Millions of yen 107,050 (8,410)	% - -

      Note:Business profit is calculated by deducting cost of sales and selling, general, and administrative expenses from sales revenue.

      	Basic earnings per share	Diluted earnings per share	Business profit margin
      	Yen	Yen	%
      Six months ended June 30, 2026	461.62	460.16	15.0
      Six months ended June 30, 2025	224.86	224.21	10.7

   2. Consolidated financial position

   	Total assets	Total equity	Equity attributable to owners of the parent	Ratio of equity attributable to owners of the parent	Equity attributable to owners of the parent per share
   As of June 30, 2026 As of December 31, 2025	Millions of yen	Millions of yen	Millions of yen	%	Yen
   	2,170,542 1,998,360	1,133,257 1,040,231	1,124,216 1,030,851	51.8 51.6	7,126.69 6,536.66

2. Dividends

   	Dividends per share
   	End of 1Q	End of 2Q	End of 3Q	Year-end	Annual
   Fiscal year ended December 31, 2025 Fiscal year ending December 31, 2026	Yen	Yen	Yen	Yen	Yen
   	- -	48.00 87.00	-	86.00	134.00
   Fiscal year ending December 31, 2026 (forecast)			-	136.00	223.00

   Note: Revisions to the dividends forecast most recently announced: Yes

3. Consolidated financial results forecast for the fiscal year ending December 31, 2026 (from January 1, 2026 to December 31, 2026)

(Percentages indicate year-on-year changes.)

Note: Revisions to the financial results forecast most recently announced: Yes

* Notes

1. Significant changes in the scope of consolidation during the period: None Newly included: - companies

   Excluded: - companies

2. Changes in accounting policies and changes in accounting estimates

   1. Changes in accounting policies required by IFRS: None

   2. Changes in accounting policies due to other reasons: None

   3. Changes in accounting estimates: None

3. Number of issued shares (common shares)

   1. Total number of issued shares at the end of the period (including treasury shares)

      As of June 30, 2026	166,396,381 shares
      As of December 31, 2025	166,396,381 shares

   2. Number of treasury shares at the end of the period

      As of June 30, 2026	8,649,095 shares
      As of December 31, 2025	8,693,419 shares

   3. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

• Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit corporation.

• Proper use of earnings forecasts and other special matters

(Cautionary statements with respect to forward-looking statements and other information)

The earnings forecasts herein are prepared by the Company based on information available to the Company as of the announcement of this document. Actual results may differ from these forecasts due to a wide range of factors.

• Contents of Attached Materials

  1. Qualitative Information on Consolidated Results for the Period under Review

     1. Consolidated Operating Results 2

     2. Consolidated Financial Position 3

     3. Consolidated Earnings Forecast and Other Forward-Looking Statements 3

  2. Condensed Interim Consolidated Financial Statements and Principal Notes

     1. Condensed Interim Consolidated Statement of Financial Position 4

     2. Condensed Interim Consolidated Statement of Profit or Loss and

        Condensed Interim Consolidated Statement of Comprehensive Income 6

     3. Condensed Interim Consolidated Statement of Change in Equity 8

     4. Condensed Interim Consolidated Statement of Cash Flows 10

     5. Notes Concerning Condensed Interim Consolidated Financial Statements 11

(Notes on going concern assumption) 11

(Segment information, etc.) 11

(Significant subsequent events) 12

1. Qualitative Information on Consolidated Results for the Period under Review

   1. Consolidated Operating Results

      		Six months ended June 30, 2025	Six months ended June 30, 2026	YoY change
      Sales revenue		¥ million 579,201	¥ million 639,397	% 10.4
      	Tires	523,556	580,360	10.8
      	MB	51,316	54,863	6.9
      	Others	4,329	4,173	(3.6)
      Business profit (loss)		62,119	95,846	54.3
      	Tires	56,595	89,029	57.3
      	MB	5,157	6,317	22.5
      	Others	373	498	33.7
      	Adjustments	(5)	2	-
      Operating profit		54,858	109,699	100.0
      Profit before tax		50,662	110,818	118.7
      Profit attributable to owners of the parent		35,535	72,578	104.2

      Note: Business profit is calculated by deducting cost of sales and selling, general, and administrative expenses from revenues.

      In the first half of fiscal 2026 (January 1 - June 30, 2026), the Yokohama Rubber Group continued to pursue the "exploitation" of the strengths of its existing businesses and the "exploration" of new value while implementing its medium-term management plan Yokohama Transformation 2026 (YX2026), which aims to complete the transformation begun during the previous medium-term plan. This effort again produced strong results in all of the Group's businesses. The Group's first-half consolidated results included sales revenue of ¥639,397 million (+10.4% YoY) and business profit of ¥95,846 million (+54.3% YoY). Operating profit totaled ¥109,699 million, a 100.0% YoY increase supported by a ¥35,302 million gain on the sale of assets at the site of a former OHT plant in Israel offsetting a one-time expense of ¥14,952 million on the closure of a U.S. tire plant in Salem, Virginia. As a result, profit attributable to owners of the parent totaled

      ¥72,578 million (+104.2% YoY), and the Group achieved record highs in all key earnings categories.

      Tire segment sales revenue totaled ¥580,360 million (+10.8% YoY), accounting for 90.8% of the Yokohama Rubber Group's consolidated sales revenue.

      Consumer tire original equipment (OE) sales revenue increased year on year as strong sales in Japan of vehicle models equipped with YOKOHAMA tires compensated for the continued weakness in Japanese automakers'sales in China.

      Replacement tire sales revenue also increased year on year. In addition to constant meticulous sales efforts in Japan, replacement tire sales were boosted by strong sales of high-inch and other high-value-added tires in Europe and efforts to develop new customers and expand business with existing customers in all regions.

      The off-highway tire (OHT) business achieved a YoY increase in sales revenue in a difficult demand environment, as it strictly adhered to its policy of securing a revenue structure that is unaffected by demand cycles, increased sales while maintaining high profitability, and flexibly raised prices to reflect recent increases in raw material costs. Sales of OE tires for agricultural machinery were higher than a year ago as the business is steadily expanding sales volume by investing in its products and technologies to strengthen customer relationships. The OHT business also achieved YoY growth in sales of its replacement tires, as its multi-brand strategy, which includes its Mitas and Alliance brands, and aggressive launches of new products produced strong sales, especially in North America.

      MB (Multiple Businesses) segment sales revenue totaled ¥54,863 million (+6.9% YoY), accounting for 8.6%

      of the Group's consolidated sales revenue.

      The segment's hose & couplings business achieved YoY sales growth as it strengthened its hydraulic hose operations in the replacement markets in Japan and overseas and continued its meticulous sales activities.

      The industrial products business'sales revenue also increased year on year. In addition to expanding sales of conveyor belts and maintaining its high share in that market, the business increased its sales of aerospace products (government demand), an area it has been focusing on in recent years.

      The strong increase in first-half consolidated business profit is attributed to the consumer tire business' higher sales of high-value-added tires (AGW) and high-inch tires, increased sales volume at the highly profitable OHT business, the MB segment's efforts to improve profitability of its existing businesses, and Group-wide efforts to drastically reduce costs and implement structural reforms.

   2. Consolidated Financial Position

      Total assets as of June 30, 2026, were ¥2,170,542 million, an increase of ¥172,182 million from the end of the previous consolidated fiscal year (December 31, 2025). The increase primarily reflects increases in inventories, cash and cash equivalents, and property, plant and equipment.

      Total liabilities as of June 30, 2026, were ¥1,037,285 million, an increase of ¥79,155 million from the end of the previous consolidated fiscal year. The increase in liabilities primarily reflects an increase in interest-bearing debt.

      Total equity as of June 30, 2026, came to ¥1,133,257 million, an increase of ¥93,027 million from the end of the previous consolidated fiscal year. This increase primarily reflects the recording of profit attributable to owners of the parent.

   3. Consolidated Earnings Forecast and Other Forward-Looking Statements

   The consolidated earnings forecast for the fiscal year ending December 2026 (January 1 - December 31, 2026) has been revised. For details, please refer to the "Notice on Differences between Earnings Forecast and Results for First-Half 2026 and Upward Revisions to Full-Year Forecast and Shareholder Dividends" announced today.

2. Condensed Interim Consolidated Financial Statements and Principal Notes

1. Condensed Interim Consolidated Statement of Financial Position

   (Millions of yen)

   Assets

   Current assets

   As of December 31, 2025 As of June 30, 2026

   Cash and cash equivalents	107,391	147,059
   Trade and other receivables	333,987	368,474
   Other financial assets	8,576	15,907
   Inventories	319,055	372,891
   Other current assets	39,818	40,284
   Subtotal	808,828	944,614
   Non-current assets held for sale	17,340	107
   Total current assets	826,168	944,721

   Non-current assets

   Property, plant and equipment	634,266	672,810
   Goodwill	332,899	340,438
   Intangible assets	126,438	123,605
   Other financial assets	44,072	49,647
   Deferred tax assets	7,488	12,377
   Other non-current assets	27,029	26,943
   Total non-current assets	1,172,192	1,225,821
   Total assets	1,998,360	2,170,542

   (Millions of yen)

   As of December 31, 2025 As of June 30, 2026

   Liabilities and equity Liabilities

   Current liabilities

   Trade and other payables	112,706	137,899
   Bonds and borrowings	135,230	238,253
   Other financial liabilities	33,577	32,008
   Income taxes payable	53,896	38,364
   Other current liabilities	111,632	99,277
   Total current liabilities	447,041	545,801
   Non-current liabilities Bonds and borrowings	400,540	376,969
   Other financial liabilities	44,286	49,883
   Liabilities for retirement benefits	16,734	15,660
   Deferred tax liabilities	29,365	27,146
   Other non-current liabilities	20,163	21,825
   Total non-current liabilities	511,089	491,484
   Total liabilities	958,130	1,037,285
   Equity Share capital	38,909	38,909
   Share premium	29,967	30,248
   Retained earnings	709,386	770,758
   Treasury shares	(15,662)	(15,585)
   Other components of equity	268,251	299,887
   Total equity attributable to owners of the parent	1,030,851	1,124,216
   Non-controlling interests	9,379	9,041
   Total equity	1,040,231	1,133,257
   Total liabilities and equity	1,998,360	2,170,542

2. Condensed Interim Consolidated Statement of Profit or Loss and Condensed Interim Consolidated Statement of Comprehensive Income

   Condensed Interim Consolidated Statement of Profit or Loss Six Months Ended June 30

   (Millions of yen)

   	For the Six months ended	For the Six months ended
   	June 30, 2025	June 30, 2026
   Sales revenue	579,201	639,397
   Cost of sales	(381,289)	(391,973)
   Gross profit	197,912	247,424
   Selling, general, and administrative expenses	(135,793)	(151,578)
   Business profit	62,119	95,846
   Other income	2,468	38,398
   Other expenses	(9,729)	(24,545)
   Operating profit	54,858	109,699
   Finance income	3,154	9,111
   Finance costs	(7,351)	(7,992)
   Profit before tax	50,662	110,818
   Income taxes	(14,822)	(37,798)
   Profit	35,840	73,019
   Profit attributable to: Owners of the parent	35,535	72,578
   Non-controlling interests	305	441
   Profit	35,840	73,019
   Basic earnings per share (Yen)	224.86	461.62
   Diluted earnings per share (Yen)	224.21	460.16

   Condensed Interim Consolidated Statement of Comprehensive Income Six Months Ended June 30

   For the Six months ended June 30, 2025

   (Millions of yen)

   For the Six months ended June 30, 2026

   Profit 35,840 73,019

   Other comprehensive income

   Items that will not be reclassified subsequently to profit or loss

   Gains (losses) on financial assets measured at fair value through other comprehensive income

   959 4,113

   Remeasurements of defined benefit plans (5,262) 1,950

   Items that may be reclassified subsequently to profit or loss

   Cash flow hedges (2,333) 1,265

   Exchange differences on translating foreign operations

   (37,614) 26,703

   Total other comprehensive income, net of tax	(44,250)	34,031
   Comprehensive income	(8,410)	107,050

   Comprehensive income attributable to:

   Owners of the parent	(8,623)	106,570
   Non-controlling interests	213	481
   Comprehensive income	(8,410)	107,050

3. Condensed Interim Consolidated Statement of Changes in Equity

Six Months Ended June 30, 2025

(Millions of yen)

Six Months Ended June 30, 2026

(Millions of yen)

(5) Notes Concerning Condensed Interim Consolidated Financial Statements

(Notes on going concern assumption) Not applicable.

(Segment information, etc.)

1. Outline of Reportable Segments

   The Group's business segments are organizational units for which the Group is able to obtain discrete financial information in order for the Company's Board of Directors to regularly review performance to determine the distribution of management resources and evaluate business results.

   The Group classifies organizational units by product and service. Each organizational unit plans domestic or overseas general strategies for its products and services and operates its business.

   Major products in each reportable segment

   Reportable segment	Major products
   Tires	Tires for passenger cars, trucks and buses, light trucks, agricultural machinery, mining and construction equipment, industrial equipment, forestry machinery, etc.; various tire tubes; aluminum alloy wheels; and auto supplies
   MB	Conveyor belts, various hoses, pneumatic marine fenders, oil fences, marine hoses, and aerospace products

2. Information on Segment Revenues and Results

   The figures related to reportable segments are based on business profit. Intersegment revenues are based on prevailing market prices.

   For the six months ended June 30, 2025 (from January 1, 2025 to June 30, 2025)

   (Millions of yen)

   	Reportable segment		Others (Note 1)	Total	Adjustment (Note 3)	Consolidated
   	Tires	MB
   Sales revenue Sales revenue from external customers Intersegment revenue	523,556	51,316	4,329	579,201	-	579,201
   	592	50	11,130	11,771	(11,771)	-
   Total	524,148	51,366	15,459	590,972	(11,771)	579,201
   Segment profit (business profit) (Note 2)	56,595	5,157	373	62,124	(5)	62,119
   Other income and expenses						(7,261)
   Operating profit						54,858

   (Notes) 1. "Others" includes the sports business.

   1. Segment profit (business profit) is calculated by deducting cost of sales and selling, general, and administrative expenses from sales revenues.

   2. Segment profit adjustments include the elimination of intersegment transactions.

For the six months ended June 30, 2026 (from January 1, 2026 to June 30, 2026)

(Millions of yen)

(Notes) 1. "Others" includes the sports business.

1. Segment profit (business profit) is calculated by deducting cost of sales and selling, general, and administrative expenses from sales revenues.

2. Segment profit adjustments include the elimination of intersegment transactions.

(Significant subsequent events) Not applicable.