Toyo Tire anti-quake rubber controversy sends shockwaves through share price
While Toyo’s share price has already plummeted; credit analysts offer both good and bad news. The good is that they suggest the company’s rating should remain stable. The bad is that they are finding it hard to estimate the cost of the fiasco
Toyo Tire & Rubber Co.’s share plummeted by the most in four years this week after the company revealed that a rubber product it sold as a building material for protecting against earthquakes failed to meet the necessary certification. The news, which was released in an official statement on 13 March, revealed that that its…
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