Toyo Tire reports 78% increase in operating income in Q2 2024 results

Toyo Tire Corporation reported net sales of 273,501 million yen in consolidated business results for the second quarter of 2024 ended 30 June. That figure is up 3 per cent to 8,044 million yen compared with the same period in 2023.

Operating Income in the quarter amounted to 47,569 million yen, up a huge 78.3 per cent compared with last year. Profit attributable to owners of the parent company was 42,005 million yen, up 44.2 per cent.

Much of the overall results were driven by the Tire Business Unit which posted net sales of 251,291 million yen, up 3. 6 per cent; and operating income of 46,898 million yen, up 71.2 per cent compared with the same period last year.