Toyo publishes annual report; Q1 results

ERJ staff report (DS)

Tokyo -- Sales rocketed in the three months to June 2012 at Toyo Tires, but operating income increased at a lower rate.

Like Yokohama, Toyo is in the process of converting its fiscal year to the Jan-December model away from the historical April-March cycle. As a result historical comparisons are not necessarily meaningful

The company said sales in the period increased to yen 120,474 million (euro 1251 million) from the figure of yen 70.3 billion a year ago. Operating income in the period went up to yen 3529 million from yen 3155 million. Ordinary income fell slightly to yen 2253 million from yen 2553 million.

Toyo also released its report for the full financial year ended March 2012. Amid other data, Toyo said total tyre production in FY2011 increased to 203,700 tonnes from 180,100 tonnes in FY2010.

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Financial materials from Toyo Tires