Domestic REP Price Hikes Extended to Winter and All-season Tires

Research evidence excerpt

Domestic REP Price Hikes Extended to Winter and All-season Tires

Update

June 19, 2026 09:46 AM GMT

Morgan Stanley MUFG Securities Co., Ltd.+MYokohama Rubber (5101) | Japan Shinji Kakiuchi

Equity Analyst

Domestic REP Price Hikes Shinji.Kakiuchi@morganstanleymufg.comHayato Takashima +81 3 6836-5416

Research Associate

Hayato.Takashima@morganstanleymufg.com +81 3 6836-5414

Extended to Winter and All-

season Tires

Key Takeaways Yokohama Rubber (5101.T, 5101 JT)

Yokohama Rubber announced avg. rises of 5% from Sep 1 for maker shipment Tires | Japan

prices for the domestic REP market. Stock Rating Equal-weight

Industry View In-Line

It is raising prices for summer tires for passenger cars/vans by an avg. of 5% from Price target ¥8,000

Shr price, close (Jun 19, 2026) ¥7,932

Jun 1, and has now extended the scope to winter and all-season units. Mkt cap, curr, basic (bn) ¥1,250.9

Avg daily trading value (bn) ¥4.9

The firm also plans to increase prices for other uses incl. trucks/buses and

construction vehicles from Sep 1.

We calculate a ¥5-6bn annualized boost to Yokohama Rubber's OP from a 5% rise

in domestic REP tire prices. The latest announcement extending the scope of

price rises is likely neutral for the share price.

The firm cited rising costs in areas such as logistics, personnel and energy, in

addition to high raw material prices, as reasons for the price increases.

On Jun 19 (Fri), Yokohama Rubber announced revisions in maker shipment prices of

tires for the domestic replacement market, this time targeting those for passenger

cars/vans (winter, all-season), light trucks/buses (summer, winter, all-season),

trucks/buses (summer, winter, all-season), construction/industrial vehicles, and

agricultural machinery. These are to be implemented from Sep 1, and the firm says