Toyo Q2 earnings rebound, but half-year results down

Hyogo, Japan — Toyo Tire & Rubber Co. Ltd.’s operating income rebounded in the quarter ended June 30, but sales fell for the second straight quarter.

After falling 12.5% in the first quarter, operating income was up 4.9% in the second period to $191.4 million. Sales fell 2.1% to $846.3 million.

Operating earnings for the half year, though, were off 4.7% to $191.4 million as Toyo continues to struggle with the burden of settling claims related to sub-par seismic isolation rubber products sold in the previous years.

Half-year…

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