Record highs all-round at Toyo Tire in Q3 2014

For the third quarter of the current financial year, Toyo Tire & Rubber reports achieving “record highs: for net sales, operating income, ordinary income and net income.

Net sales in the period between 1 June and 30 September 2014 amounted to 287.3 billion yen (£1.6 billion), 7.1 per cent in the corresponding period last year. Operating income rose 37.8 per cent to 34.0 billion yen (£186.7 million), with a margin of 11.8 per cent (Q3 2013: 9.2%). Net income, at 23.5 billion yen (£129.0 million), was 282 per cent higher than a year earlier.

Within the company’s Tire business, “healthy orders for winter tyres in Europe” and “strong sales of high-value-added SUV tyres in North America” pushed net sales and operating income up. Tire business sales rose 8.6 per cent to 226.9 billion yen (£1.2 billion) – another record high – and operating income increased 44.8 per cent to 31.7 billion yen (£174.2 million). This was also a record high.

Full financial information for Toyo Tire & Rubber can be found in our company profiles and reports section