Toyo Tires announced a price increase of up to 10% for the manufacturer’s shipping prices of its Japanese domestic retail tires. The price hike applies to all domestic retail tire products under the Toyo Tires and Nitto Tire brands, as well as tubes and flaps. The increase will take effect for summer tires starting June 1 and for winter tires...
Japan Rubber Weekly – Gomu Hochi Shimbun in Japanese – is commemorating its 3,000th weekly print newspaper issue with a special report on Technologies and Products that Will Win in 2030. This article takes a closer look at Toyo Tires. Toyo Tires has set a target in its medium-term business plan, Mid-Term ’21, to achieve a sales composition ratio of...
The Excellent Corporation for Health Management certification system recognizes corporations, including large enterprises and small-to-medium businesses, that practice exemplary health management. It is divided into the Large-Scale Corporation Category and the Small-to-Medium-Scale Corporation Category, with top performers in the former category earning the additional White 500 designation. Moreover, the Health and Productivity Stock Selection is a program by the Ministry...
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...
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