Toyo Tire & Rubber Co. Archives - Tyrepress

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Toyo Tires utilising European know-how for global product lines

As part of a range of structural changes taking effect on 1 April, Toyo Tires will draw upon its experiences making tyres for the demanding European market in order to benefit its development programme for other regions. The tyre maker is integrating its Europe/Module Development department, which currently operates under the Technology Development division within its R&D Headquarters, into the R&D Headquarters’ Replacement Tire Development department.

3rd February 2021/by Stephen

Mitsubishi becomes Toyo Tire’s largest shareholder – collaboration to intensify

Through a new arrangement with Mitsubishi Corporation (Mitsubishi), Toyo Tire & Rubber (Toyo) aims to “survive and remain viable” during the “unprecedented transformation” currently occurring in the automotive industry. The two parties have entered into a business alliance agreement that involves Mitsubishi increasing its shareholding in Toyo from 3.05 per cent to 20 per cent. Toyo will issue Mitsubishi 26,931,956 new shares via a third-party allotment that will be paid in between 15 January and 28 June 2019. With this share acquisition, Mitsubishi becomes Toyo’s largest shareholder.

1st November 2018/by Stephen

Toyo Tires’ tyre business improves in H1 2018, results muted by ‘dampner scandal’

For Toyo Tire & Rubber, the first half of 2018 was a period of mixed fortunes. The manufacturer reports that turnover and earnings within its core tyre business increased 3.9 per cent during the six months to 30 June, with sales of 160,046 million yen (£1.1 billion) and operating income of 22,669 million yen (£160.8 million) resulting in a slightly improved profit margin of 14.2 per cent. Overall sales were down 3.3 per cent, to 185,738 million yen (£1.3 billion), due to decreased turnover within the company’s automotive parts business.

14th August 2018/by Stephen

Toyo Tires unveils noise reduction technology

Company News, Product News

In recent years we’ve seen a number of tyre makers introduce noise reduction technologies that utilise foam insulation, with Continental, Hankook, Bridgestone, Sumitomo Rubber, Goodyear amongst those bringing their own version of the concept to market. Toyo Tire & Rubber Co. Ltd. has taken a different approach and sought instead to cut noise by modifying airflow within the tyre cavity. It calls its solution Toyo Silent Technology.

10th July 2018/by Stephen

Toyo Tires introduces ‘Mobility Aerodynamics’ technology

Company News, Product News

To help it design tyres that contribute towards lower fuel consumption and, in electric vehicles, increased range, Toyo Tire & Rubber Co., Ltd. has developed its own aerodynamic simulation technology. It calls it ‘Mobility Aerodynamics’ and says the technology “represents an advance never seen in the industry before.”

5th July 2018/by Stephen

Toyo Tire shareholders approve change of company name

Shareholders of Toyo Tire & Rubber Co. Ltd. approved the official change of company name to Toyo Tire Corporation at the company’s 102nd General Meeting of Shareholders on 29 March. The change of company name will take effect on 1 January 2019.

3rd April 2018/by Stephen

Toyo Tire & Rubber to adopt new trade name

A resolution was passed at Toyo Tire & Rubber Co. Ltd.’s Board of Directors meeting on 15 February to change the company’s trade name to Toyo Tire Corporation. This new name will be adopted as of 1 January 2019, provided that a proposed partial amendment to the firm’s Articles of Incorporation is approved at the Toyo general meeting of shareholders on 29 March.

19th February 2018/by Stephen

Toyo Tires releases 2016 annual report

Better late than never – as 2017 draws to a close, we can pour ourselves a hot drink, sit by the fireplace and peruse the Toyo Tire & Rubber annual report for 2016. The 61-page document outlines the company’s progress since introducing its Mid-Term 14 business plan and outlines the new Mid-Term 17 plan, which calls for net sales to increase (from the 2016 financial year) 25.8 per cent to 480.0 billion yen (£3.2 billion) by the 2020 financial year, and for operating income to rise 21.7 per cent to 60.0 billion yen (£397.9 million).

20th December 2017/by Stephen

AC Milan in Japanimation – 4th Toyo Tires video now online

Company News, News

The fourth AC Milan video from Toyo Tire & Rubber is now available. Titled ‘AC Milan in Japanimation’, the short video was created with the help of Yoichi Takahashi, creator of the ‘Captain Tsubasa’ manga football cartoon.

19th December 2017/by Stephen

Toyo Tires expanding capacity in Malaysia, USA

A total of around 35 billion yen (£234.2 million) will be invested in increasing production capacity at Toyo Tire & Rubber tyre plants in Malaysia and the USA.

5th October 2017/by Tyrepress Editors

New headquarters for Toyo Tire

Company News, International News

Towards the end of this month, Toyo Tire & Rubber will move into a new headquarters building. The Japanese manufacturer will relocate some ten miles, from Nishi-ku, Osaka to Itami, Hyogo. The move will take place on Sunday 28 May and see Toyo housed in a new six-storey building next to the company’s Tire Technical Center. Operations at the new headquarters will begin the next day.

5th May 2017/by Tyrepress Editors

2016 financial results: Toyo Tire & Rubber

Toyo Tire & Rubber has reported a year-on-year decline in net sales, operating income and ordinary income for the 2016, and remained in the red for another year. Even though the company projected in November 2016 the expectation of profit of 12 billion yen, issues with certain non-tyre products led to an extraordinary loss recorded in the closing of accounts for the year, turning the projected profit into a loss of 12.26 billion yen (£86.1 million).

17th February 2017/by Tyrepress Editors

Toyo Tire expanding R&D capabilities at US plant site

Company News, International News

Throughout the course of this year, Toyo Tire & Rubber’s manufacturing operation in North America will expand its research and development capabilities in order to expedite the development of both original equipment and replacement market tyres. The company has not disclosed the level of investment being made in the Toyo Tire North America Manufacturing facility, however it will result in a 50 per cent increase in the size of the research and development team.

12th January 2017/by Tyrepress Editors

Toyo Tire & Rubber chairman resigns

Career Tracks, Company News, International News

Six months after Katsumi Komaguchi became chairman and representative director of Toyo Tire & Rubber in December 2015, the Japanese tyre manufacturer has announced his resignation of both roles. In an extremely short and perfunctory statement, Toyo wrote that his resignation is effective immediately (from 27 May 2016) and is described as a “personal matter”.

27th May 2016/by Tyrepress Editors

Toyo revises corporate roles

Career Tracks, Company News

Toyo Tire & Rubber Co., Ltd. has made the following changes to its array of corporate officers and other executives. All roles are effective 1 November.

Tetsua Kuze is now corporate officer and general manager of Toyo’s DT Planning Division, DT Business Group Headquarters, DT Strategy and Planning Dept. and DT Business Group. Kuze had previously been senior corporate officer and general manager of the administrative division as well as general manager of the Corporate Planning Division overseeing corporate purchasing division headquarters. He remains deputy general manager, Seismic Isolation Rubber Division

29th October 2015/by Tyrepress Editors