Toyo Tire Corp. (TYO:5105) is aiming to strengthen its relationship with Mitsubishi Corp. (TYO:8058) on a comprehensive level. By pursuing this while also capitalizing on its own strengths, the tire manufacturer plans for the resulting synergies to provide a positive effect of 10 billion yen ($94.64 million) in operating profit by 2023. Expectations here are that carrying out policies alongside...
Toyo Tire Corp. (TYO:5105) and Mitsubishi Corp. (TYO:8058) have gotten started with efforts aimed at drawing out synergy between their two companies. This follows the pair having agreed to an increased capital partnership late last year. Looking to bring about synergy between their companies at an early stage, Toyo Tires and Mitsubishi have started up seven collaborative task forces relating...
Toyo Tire & Rubber Co. Ltd. (TYO:5105) President Takashi Shimizu has reasserted his company’s path to specializing in mobility through tires and auto parts. Shimizu pointed to the background leading up to Toyo Tires’ capital tie-up with Mitsubishi Corp. (TYO:8058) that was announced on Nov. 1, the aims from this, and how his company will be changing its name to...
Toyo Tire & Rubber Co. Ltd. (TYO:5105) has downwardly revised its results forecast for calendar 2018, lowering its projections for sales by 1.3 percent, operating profit by 4.3 percent, ordinary profit by 5.2 percent and net profit by 24.1 percent when compared to initial estimates. Explaining the adjustment to operating profit, company president Takashi Shimizu first said that while raw...
Toyo Tire & Rubber Co. Ltd. (TYO:5105) announced on Jan. 15 a change in its trade name to Toyo Tire Corp. The decision by the board of directors came earlier that day, and the change is set to come into effect on Jan. 1, 2019. During an earnings briefing held on the day of the announcement, Toyo Tires President Takashi...
Toyo Tire & Rubber Co. Ltd. (TYO:5105) announced on July 28 the transfer of its chemical industrial products business run by the company’s tire division. The transfer will exclude operations pertaining to isolation rubber for construction. Takashi Shimizu, the company’s president, recently spoke about the transfer, saying that the decision to divest its business involved in chemical industrial products and...
