YOKOHAMA RUBBER COMPLETES ACQUISITION OF GOODYEAR’S OFF-THE-ROAD TIRE BUSINESS

The Yokohama Rubber Co., Ltd., announced today that its acquisition of the Off-the-Road tire (hereafter OTR) business of The Goodyear Tire & Rubber Company (hereafter, Goodyear), a tire manufacturing and sales company headquartered in the United States, was concluded on February 4, (JST, Feb. 3 in the US). The OTR business provides specialized tires for the mining & construction industries among others. The two companies’ agreement on the transaction was announced on July 22, 2024. Yokohama Rubber plans to include the acquired business in its consolidated results from the first quarter of 2025 and is currently examining the addition’s estimated impact on consolidated earnings.

The acquisition is a strategic investment aimed at achieving “Hockey Stick Growth” during Yokohama Transformation 2026 (YX2026), the Company’s medium-term management plan for fiscal years 2024–2026. In addition to an extensive lineup of mining & construction machinery tires with diameters ranging from 25 inches or less to large- and ultra-large sizes of 49 to 63 inches, the acquisition brings to Yokohama Rubber the former Goodyear business’ advanced technologies, strong brand power, and professional services provided by skilled staff.

The acquisition is a key part of Yokohama Rubber’s effort to expand its off-highway tire (OHT) product lineup and its production and supply capabilities in all OHT categories, including tires for mining & construction machinery, as it seeks to strengthen its market position and competitiveness in the OHT business and enhance its corporate value.

Business: OTR business (tires for the mining & construction industry)
Annual sales: US$678 million (fiscal 2023)
Employees: Approx. 500

Established: August 1898
Head office: Akron, Ohio, USA
Share capital: US$285 million
Main business: Manufacture & sale of tires
Annual sales: US$20,066 million (fiscal 2023)
Employees: Approx. 68,000