Toyo Tires reported a 2.3% year-on-year increase in net sales to 565.36 billion yen ($3.78 billion), a 22.2% increase in operating income to 93.98 billion yen, an 18.7% increase in ordinary income to 102.12 billion yen, and a 3.5% increase in net income to 74.81 billion yen for the fiscal year ended December 31, 2024. Sales and profits reached record...
Yokohama Rubber’s financial results for the fiscal year ended December 31, 2024, showed revenue from sales of 1.095 trillion yen ($7.33 billion), up 11.1% year-on-year; business profit of 134.38 billion yen, up 35.6%; and net income of 74.92 billion yen, up 11.4%. Sales revenue, business profit, and net income were all record highs, with sales revenue exceeding 1 trillion yen...
Bridgestone’s results for the fiscal year ended December 31,2024, showed revenue of 4.430 trillion yen ($29.85 billion), up 2.7% year-on-year; adjusted operating income of 483.30 billion yen, up 0.6%; and net income (including discontinued operations) of 284.99 billion yen, down 14.0%. “The company’s sales and income increased due to a tailwind from exchange rates, despite new threats from structural changes...
Toyo Tires will transfer its 86% stake in Toyo Tire Zhangjiagang (TTZ), a passenger car and light truck tire manufacturing subsidiary in China, to Liaoning Hengdasheng Investment (LHI), signing a basic agreement on February 14. The company has decided to review its China business in its global business strategy, as the penetration of its brand and product power has been...
The four Japanese tire makers, Bridgestone, Sumitomo Rubber, Yokohama Rubber, and Toyo Tires, have released their fiscal 2024 financial results. Although market conditions were generally harsh, all four companies posted record-high sales and record-high operating income (Bridgestone posted adjusted operating income; Sumitomo Rubber and Yokohama Rubber posted operating income), thanks in part to a tailwind from a weaker yen. On...
Yokohama Rubber has begun deliveries of Advan Sport EV tires for new vehicle installation (OE) on the Leapmotor C16, the new SUV launched in China in June 2024 by Chinese EV manufacturer Leapmotor. The tire sizes are 245/45R21 104V XL for the front and 255/45R21 106V XL for the rear. Based on the company’s Advan Sport V107 tire for high-performance...
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