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...
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...
Toyo Tires will launch in March in Japan the Proxes LuKII, a premium tire exclusively for mini high wagons. Part of the the Proxes global flagship tire brand, the new tire will be available in four sizes. It inherits the quietness, firmness, high quality comfort, and wear performance of the existing Tranpath LuK, while improving wet braking performance and reducing...
Toyo Tires has been selected as a constituent of the FTSE4Good Index Series, a leading global ESG investment index, for the sixth consecutive year. In addition, the company has been selected as a constituent of the FTSE Blossom Japan Index Series for Japanese companies since 2020 and of the FTSE Blossom Japan Sector Relative Index Series since 2022. The FTSE4Good...
Toyo Tires has acquired ISCC PLUS certification, an international certification system for sustainable products, at its Sendai Plant (Iwanuma City, Miyagi Prefecture), its main tire production facility in Japan, and its production subsidiary Fukushima Rubber (Fukushima City, Fukushima Prefecture). The company aims to increase the ratio of sustainable raw materials used in its products to 40% by 2030 and 100%...
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