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...
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...
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...
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...
Toyo Tires will in August sequentially launch the Celsius all-season tire exclusively for cabs for the Japanese market. It will be available in three sizes and the price is not set. Celsius is an all-weather tire with snow performance that is approved to be stamped with the Snowflake mark. As a new genre of product developed by the company, it...
The environment surrounding the Japanese rubber industry has been changing due to the ongoing depreciation of the yen, the decline in naphtha prices and the slump in China. These changes are a mixture of good and bad news for the rubber industry, but since they are all external factors, it is difficult for individual companies to influence them. Japan Rubber...
