Toyo Tires

Japan’s Major Tire Manufacturers Halt Employee Initiation Ceremonies Amid Coronavirus Concerns

Responding to the continued spread of the novel coronavirus, major tire manufacturers in Japan have decided to call off or postpone initiation ceremonies for new employees. Bridgestone Corp. (TYO:5108) is among this list, having decided to postpone its ceremonial activities. Meanwhile, Sumitomo Rubber Industries Ltd. (TYO:5110) has decided that rather than hold its usual activities for new employees, it will...

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Toyo Tire Relaxes Dress Code, Promoting Individuality, Stress Reduction

Toyo Tire Corp. (TYO:5105) has relaxed its dress code for the approximately 300 employees at its head office in an effort to promote individuality, and plans are to extend the new rules to other locations companywide. The company defines its relaxation of the dress code, which came into effect March 2, as recognizing the autonomy of each individual to select...

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Japanese Tire Manufacturers Struggle to Predict How Coronavirus Will Impact 2020 Business Results

Japan’s four major tire manufacturers – Bridgestone Corp. (TYO:5108), Sumitomo Rubber Industries Ltd. (TYO:5110), Yokohama Rubber Co. Ltd. (TYO:5101) and Toyo Tires Corp. (TYO:5105) – are all forecasting improvements at the operating profit level for calendar 2020. Bridgestone is using adjusted operating profit here, while Sumitomo Rubber and Yokohama Rubber use business profit. However, with Bridgestone noting that it is...

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Toyo Tires to Launch All-Weather Truck and Bus Tire With Improved Wear Resistance, Wet Driving Force

Toyo Tire Corp. (TYO:5105) is planning a sequential launch in the domestic Japanese market for the M646, a new all-season truck and bus tire. In recent years, the transport industry has been speeding up initiatives aimed at optimizing its maintenance and transportation systems. This has brought about an impressive amount of innovative solutions in the sector, including designs such as...

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Toyo Tires Anticipates Decreased Operating Loss in Auto Parts Business for 2020

Toyo Tires Corp. (TYO:5105) is gradually reducing the operating losses of its auto parts business. While the company’s forecasts for calendar 2020 point to this business – which is focused on anti-vibration rubber – as posting another operating loss, the specific loss here is set to more than halve compared to 2018, when the company first changed the auto parts...

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Toyo Tires to Transfer Truck and Bus Air Spring Business to Nitta Group

Toyo Tire Corp. (TYO:5105) and Nitta Corp. (TYO:5186) recently announced that they have agreed to transfer the Toyo Tire Group’s business for truck and bus air springs to the Nitta Group. Plans are for a June 30 transfer of this business, which in fiscal 2018 generated approximately 2 billion yen ($18.2 million) in sales revenue. The companies have not yet...

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