Toyo Tire Corp. (TYO:5105) has released its business forecast for calendar 2021, indicating a recovery for the year. The company is projecting 372 billion yen ($3.49 billion) in sales revenue, up 8.2 percent year-on-year; 44 billion yen in operating income, up 21.1 percent; 42.7 billion yen in ordinary income, up 38.2 percent; and 26.4 billion yen in net income, up...
Toyo Tire Corp. (TYO:5105) is looking to cease tire production this June at its Silverstone Bhd. (SSM) plant in Perak, Malaysia. The plant will then be liquidated and shuttered by Dec. 31. SSM primarily supplies Malaysian automakers with OE tires – and the market with commercial tires – under the Silverstone brand. It also produces a number of Toyo Tires-branded...
Toyo Tire Corp. (TYO:5105) and manufacturing subsidiary Toyo Tire Serbia LLC Belgrade recently held a groundbreaking ceremony at the intended site of a new plant in Indjija, Serbia. Approximately 40 guests attended the ceremony – including Serbian President Aleksandar Vucic, Indjija Mayor Vladimir Gak and Ambassador of Japan Takahiko Katsumata – to show their support for a safe construction process....
Toyo Tire Corp. (TYO:5105) President Takashi Shimizu recently outlined the approach that the company will take going forward, including on the direction of the company’s next five-year medium-term management plan, which is slated to start in fiscal 2021. While Toyo Tires’ current five-year plan touts lofty goals of reaching high numerical targets, Shimizu noted that for the upcoming plan, the...
Toyo Tire Corp. (TYO:5105) is planning to launch an additional 13 sizes for its Celsius series of all-weather tires in the Japanese market. The new sizes are being prepared for rollout starting this November. The Celsius series has been performing well in the market, capitalizing on customer desires to cut down on the need for maintenance, such as the need...
Toyo Tire Corp. (TYO:5105) President Takashi Shimizu recently revealed that his company is performing well in the U.S. market, giving insight into the company’s operations here as part of a recent results announcement for the first half of calendar 2020. Commenting on these regional operations, Shimizu said that things are going quite well for Toyo Tires in the U.S., with...
