Toyo Tires will install a mega solar power generation system with a capacity of 14 MW at its tire plant Toyo Tyre Malaysia (TTM) in Perak, Malaysia. In order to reduce CO2 emissions, TTM will install the largest mega solar system in Perak on a 96,000 square meter space on the roof of the plant building. Following the successful completion...
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Toyo Tires has published its Integrated Report 2023, the first annual report to disclose the group’s financial and non-financial information in an integrated manner. In its medium-term management plan, Mid-Term ’21 Plan, the company stated that it will contribute to the realization of a sustainable society by incorporating sustainability and ESG into its business management to solve social issues and...
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The four major Japanese tire makers have reported their first-half (January-June) results for the fiscal year ending December 31, 2023. All four companies achieved record-high sales, driven by a weak yen and a recovery in sales of tires for new vehicles. Moreover, Bridgestone, Sumitomo Rubber and Toyo Tires secured higher operating income (adjusted operating income for Bridgestone, and operating income...
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Toyo Tires will on October 31 terminate production in Kentucky at Toyo Automotive Parts (TAP), a U.S. production subsidiary that manufactures anti-vibration rubber and constant velocity joint boots for automobiles. Dissolving TAP is intended to optimize management resources and strengthen the structure of the automotive parts business. TAP has been supplying anti-vibration rubber and other products to automakers in the...
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Toyo Tires has upwardly revised its full-year forecasts for fiscal 2023. The company expects record-high sales, ordinary income, and net income. President Takashi Shimizu said that the company expects to achieve its operating income target of 60 billion yen ($409.9 million) for 2025 – the final year of its mid-term plan – two years ahead of schedule. According to the...
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Toyo Tires will starting in September to sequentially release for the Japanese market a white letter version of the Open Country A/T Ⅲ, a genuine all-terrain tire for SUVs. The Open Country, the main brand targeting SUVs, has been expanding its series lineup to meet diversifying user needs as the SUV market expands. In particular, products with white lettering, in...
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