Toyo Tires

Toyo Tires to Raise Prices on US Tires This August

Toyo Tire U.S.A. Corp., the U.S. sales subsidiary of Toyo Tire Corp. (TYO:5105), recently announced that it will increase its dealer base prices across all tire categories except for winter tires as of Aug. 1. This price hike is being implemented to reflect continued high costs for raw materials and logistics in the U.S. market. It will see prices rise...

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Toyo Tires Posts Sales and Profit Growth for January–March Quarter

Toyo Tire Corp. (TYO:5015) has released its business results for the first quarter of calendar 2021, revealing a marked increase to both sales and profit metrics. The company posted 87.74 billion yen ($798.67 million) in sales revenue, up 6.9 percent year-on-year; 12.7 billion yen in operating profit, up 83.1 percent; 16.01 billion yen in ordinary profit, up 328.3 percent; and...

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Toyo Tires Launches Project to Promote Car-Based Sightseeing in Japan’s Miyagi Prefecture

Toyo Tire Corp. (TYO:5105) has announced that this May it will be launching the Miyagi Beautiful View Project, an initiative aimed at showing the appeal of Japan’s Miyagi Prefecture and encouraging people to take car-based sightseeing trips to there. Miyagi Prefecture is also home to Toyo Tires’ Sendai Plant, a major base located in the city of Iwanuma. The company...

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Toyo Tires Set to End Tire Production at Malaysian Silverstone Plant in June

Toyo Tire Corp. (TYO:5105) is looking to cease tire production this June at its Silverstone Bhd. (SSM) plant in Perak, Malaysia. The plant will then be liquidated and shuttered by Dec. 31 following the completion of liquidation procedures. SSM primarily supplies Malaysian automakers with OE tires – and the market with commercial tires – under the Silverstone brand. It also...

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Toyo Tires Forecasts Revenue and Profit Growth for 2021 on Back of 8.6% Sales Increase in Tires Business

Toyo Tire Corp. (TYO:5105) has released its business forecast for calendar 2021, indicating a recovery for the year. The company is projecting 372 billion yen ($3.49 billion) in sales revenue, up 8.2 percent year-on-year; 44 billion yen in operating income, up 21.1 percent; 42.7 billion yen in ordinary income, up 38.2 percent; and 26.4 billion yen in net income, up...

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Toyo Tires to Close Silverstone Plant in Malaysia by End of Year

Toyo Tire Corp. (TYO:5105) is looking to cease tire production this June at its Silverstone Bhd. (SSM) plant in Perak, Malaysia. The plant will then be liquidated and shuttered by Dec. 31. SSM primarily supplies Malaysian automakers with OE tires – and the market with commercial tires – under the Silverstone brand. It also produces a number of Toyo Tires-branded...

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