Toyo sales jump 36 percent in first half

ERJ staff report (DS)

Tokyo - Toyo Tire Rubber Co Ltd said sales in the first half amounted to 202,127 million yen (euro 2000 million), up by over 36 percent from the figure of yen 147,849 million reported a year ago. Operating income rose to yen 8626 million from yen 5678 million, an increase of 52 percent

The tyre Business Unit posted net sales of 158,358 million yen and operating income of 6,492 million yen. Toyo said sales in Japan showed healthy growth, while sales in the US declined. Sales in Europe were unchanged. Sales in China and South East Asia grew strongly. As a result, said Toyo, the Overseas Replacement Tyre Market as a whole, both the unit sales and net sales have demonstrated good growth.

The DiverTech Business Unit has posted net sales of 43,751 million yen and operating profits of 1,910 million yen.

For anti-vibration rubber for motor vehicles, net sales have been growing

well because the auto manufacturers have been experiencing healthy

growth in Japan, North Americas and China. Net sales for automotive

seat cushions have grown at a healthy pace because of increases in

manufacture of cars in Japan.

In the industrial materials, net sales have fallen because of the poor

business performance in standard anti-vibration rubber products. Net

sales of seismic isolation bearing laminated rubber as building materials

in constructions have remained at the same level as last year, due to the

increase in inquiries for products following the earthquake.

As to the performance forecast for this fiscal year, net sales are predicted to be yen 291,000 million; about yen 13,000 million

less than in the previous announcement (August 10, 2012), taking into account the

effect of the recent flagging economic situation in Europe and China. However,

the operating profit is forecasted to remain at the same level (yen 15,200 million) as previously

announced, because of the low price level of raw materials.

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Press release from Yokohama