Toyo reports rise in sales

Osaka, Japan – Toyo Tire & Rubber Co has registered a 4.8-percent rise in net sales in its first nine-months report for 2015 (1 Jan- 30 Sept), to Yen300,955 million (€2.27 million).

In a press release on 9 Nov, the company said its operating income rose 40 percent from Yen13.6 million in the first nine months of 2014 to Yen47.6 million for the same period in 2015.

The tire business unit posted net sales of Yen240 million, an increase of 5.8 percent from last year’s figures. Also, operating income rose by yen11.9 million – 37.7 percent – to Yen43.7 million.

In the OE segment, local Japanese sales were sluggish due to a decline in the number of vehicles produced in Japan – as demand suddenly dropped after a consumption tax rise.

Overseas sales, however, rose steadily, putting unit and net sales ahead of the same period last year.

In the replacement segment, sales dropped in Japan due to low demand while SUV product demand gave the segment a healthy sales rise in the US. In Europe, a weakening economy led to a decline in sales.