Yokohama reported a decline in the sales and business profits for its tyre segment for the first quarter, ending March 2020.

The company’s tyre business’ sales declined 12.71% to 87.410 billion yen in Q12020.  It reported a net loss of 503 million yen in Q12020.

The company said the downturn in business profit reflected a decline in unit sales volume, an increase in production costs associated with reduced production volume, and inventory-adjustment costs occasioned by a tyre recall in North America.

Both domestic and international markets saw a fall in sales. “That decline reflected production adjustments necessitated by a decline in Japanese demand associated with the novel coronavirus (COVID-19) outbreak and by suspended operation at vehicle plants in overseas markets,” said Yokohama.

Sales revenue also declined in replacement tyres. Sales of winter tyres in Japan were weak on account of warmer-than-usual winter temperatures at the outset of the year, and Japanese business in replacement tyres also suffered from the adverse effect of the COVID-19 outbreak on consumer spending. Business in replacement tyres was generally sluggish in overseas markets, too.
ATG, a part of Yokohama looking into agri, industrial and OTR tyres, also had a fall in sales and profits due low demand.

ATG’s sales stood at 15.54 billion yen in Q12020,  a fall of 17%, from 18.86 billion yen in Q12019. Profit fell by 22% to 1.78 billion yen in Q12020.

The massive business disruption caused by COVID-19 will necessitate revisions in the full-year fiscal projections that Yokohama issued in February 2020. However, the full extent of that disruption is impossible to determine at this time, and the company will therefore withhold for the time being the release of revised business projections and of proposed dividends. Yokohama will release its revised business projections and proposals for dividends as soon as management secures a firm grasp of the fiscal outlook.

Several measures are under way at Yokohama to maintain a sound financial position in the face of the COVID-19 challenge. Those measures include fortifying short-term liquidity through optimal fund raising, paring cash expenditures by deferring capital spending and trimming costs, and reducing compensation for directors, officers, associate officers, and managers.

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NEXEN TIRE has received validation from the Science Based Targets initiative (SBTi) for its corporate emissions reduction goals, confirming they align with the critical objective of limiting global warming to 1.5°C. This endorsement signifies that the company’s climate targets are grounded in the latest climate science and meet the SBTi's rigorous international standards.

The approved targets commit NEXEN TIRE to a substantial 58.8 percent reduction in its direct operational emissions (Scope 1 and 2) by 2034, using 2023 as a baseline. The company has also pledged to cut its value chain emissions (Scope 3) by 35 percent over the same period. To realise these ambitions, NEXEN TIRE is implementing a detailed carbon neutrality roadmap. This effort is supported by a reinforced enterprise-wide management system that now includes comprehensive tracking of all 15 Scope 3 categories alongside Scope 1 and 2 emissions across its global operations.

A dedicated ESG Operational Committee meets monthly to execute a phased reduction strategy. This plan focuses on improving facility efficiency, accelerating the shift to cleaner energy sources and expanding the use of renewable power. Beyond its environmental impact, this SBTi validation is strategically significant. It is expected to strengthen the company’s relationships with global automakers, who are increasingly requiring validated carbon management from their supply chains. Furthermore, the precise emissions data compiled through this process will bolster NEXEN TIRE’s standing in global ESG evaluations, enhancing its reputation as a sustainable industry leader.

John Bosco (Hyeon Suk) Kim, CEO, NEXEN TIRE, said, “This SBTi approval is a meaningful step forward, demonstrating that NEXEN TIRE is establishing a climate response framework aligned with global standards. We are committed to leading the way to carbon neutrality by faithfully achieving emissions reduction targets based on scientific standards through enterprise-wide efforts.”

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Ride-hailing major Uber has introduced an exclusive offer for its driver partners in London, giving electric vehicle drivers 50 percent off on Enso high-performance, ultra-efficient tyres.

These tyres are specifically engineered for popular electric vehicles like the Tesla Model 3 and Model Y. The driver partners can purchase the Enso tyres via the Uber Marketplace app, giving Uber EV drivers direct access to more affordable EV tyres. 

Enso, an Earthshot Prize Finalist, produces tyres that it claims increase EV range, reduce tyre pollution and last longer than standard alternatives, delivering both environmental and economic benefits to Uber drivers.

This partnership is Uber’s first collaboration with an Earthshot Prize Finalist and is part of a wider partnership with The Earthshot Prize, founded by HRH Prince William. 

Interestingly, London is Uber’s global capital of electrification, with nearly 40 percent of all Uber rides in the city now fully electric. Through its GBP 145 million Clean Air Fund, Uber continues to help drivers switch to EVs, which is now further enhanced by access to specially discounted Enso tyres.

Brit Grant, Head of Electrification, Uber UK, said, “We’re proud to partner with ENSO as part of our ongoing mission to make it as easy and affordable as possible for drivers to go electric in the UK. Uber drivers are already switching to electric vehicles five times faster than the general public, and initiatives like this help us keep up that momentum. By reducing running costs and cutting emissions, this partnership supports our commitment to a cleaner, greener future for cities like London.”

Gunnlaugur Erlendsson, CEO, Enso, said, “Enso is playing its part in reducing costs and environmental impact for Uber drivers today. This has been made possible through our partnership with Uber and The Earthshot Prize; a collaboration that brings together sustainability with scale and commercialisation to deliver real impact. Enso develops A-A rated tyres specifically for EVs like Tesla’s to give drivers more range on a single charge, pay less upfront for their tyres and replace them less often, all of which helps Uber drivers earn more per mile.”

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A new partnership between Pirelli and Aston Martin will integrate Pirelli's pioneering Cyber Tyre technology into the British ultra-luxury brand's future vehicles. This system represents a significant technological advancement as the first of its kind capable of gathering real-time data from sensors embedded directly within the tyre's tread. These sensors feed information to Pirelli's proprietary software and algorithms, which then communicate seamlessly with the vehicle's electronic architecture.

This integration, developed in cooperation with Bosch Engineering, allows the car's main dynamic control systems, including ESP, ABS and traction control, to receive and utilise a comprehensive set of precise tyre data that was previously unavailable. By processing this information, an electronic control unit can optimise the vehicle's dynamics, enhancing both performance and safety. The collaboration underscores a shared commitment to innovation in the ultra-luxury performance sector. The adoption of the Cyber Tyre system marks a notable step forward in Aston Martin's pursuit of class-leading capabilities, leveraging detailed, real-time insights to refine the driving experience.

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The latest data from the German rubber industry highlights severe challenges at the domestic location are compelling companies to fulfil local demand primarily through their foreign production facilities, according to the German Rubber Industry Association (wdk).

A recent business climate index indicates a slight improvement in industry sentiment for the second half of 2025. However, wdk President Michael Klein sharply contradicts this optimism, stating that the data reveals a far grimmer reality. He emphasises that critical performance indicators – including revenue, sales, employment and production – are all showing deeply negative results for the domestic market, underscoring a troubling exodus of manufacturing from its core German base.

Klein has acknowledged the federal government's pledge to launch an ‘autumn of reforms’ as a positive signal. Nevertheless, he insists these measures must urgently deliver tangible relief and cost reductions for industrial companies of all sizes. He argues that what is needed most is a decisive and rapid approach to the promised reduction in bureaucracy, stressing that only verifiable results, not further promises, will count towards improving the competitiveness of the German industrial location.

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