Toyo Tire sees improved sales, earnings

Osaka, Japan –Toyo Tire & Rubber Co. Ltd. is forecasting improved earnings and sales for its fiscal 2006 half-year, based on double-digit sales growth in the first quarter and a greater-than-expected depreciation of the yen vs. other global currencies.

Toyo’s sales for the three months ended June 30 were up 13.9 percent over the same period a year ago to $649.5 million on strong improvements in the tyres and chemicals/industrial products segments.

Toyo reported operating income of nearly $29 million and net earnings of $6.5 million; this…

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