Asia
Yokohama Rubber Unit to Sell Israel Plant Assets for 30 Billion Yen Gain
The Yokohama Rubber's (TYO:5101) subsidiary will transfer fixed assets tied to an idle off-highway tire plant in Israel, with the move expected to generate about 30 billion yen in gains, according to a Thursday filing on the Tokyo Stock Exchange.Alliance Tire Company, the group's consolidated unit, approved the sale of land and buildings linked to the Hadera plant, which ceased operations at the end of December 2024.The transaction aligns with the company's medium-term plan to optimize its global production network and free up capital for growth investments.The asset transfer is scheduled for completion on April 16, with the gain to be recorded as other income in the second quarter of the fiscal year ending December 2026.
TYO:5101
