Toyo Tire’s Serbia car tyre production plant became operational on 27 July 2022. The news is in line with Europe executives’ mid-July comments, which suggested the factory would start making tyres by the end of July. The latest news is that shipments are now beginning to move out and that the company is planning to “preferentially supply the US until the end of this year ” in order to “meet robust demand there”.
This year, the European Athletics Championships take place in Munich, Germany between 11 and 21 August and will host some 4,700 athletes from 50 nations. Toyo Tires is supporting the event as a partner.
As of 1 July 2022, new faces will join the management team at Toyo Tire North America Manufacturing, Inc. Shinji Tanabe will become chairman and chief executive officer of the company responsible for Toyo’s tyre plant in Georgia, whilst Patrick Matthew Lenz takes on the roles of president and chief operating officer.
Toyo Tire Corporation achieved second-quarter 2021 net sales of 186,392 million yen (£1.217 billion; 1.438 billion euros; US$1.687 billion), an increase of 23.8 per cent compared with the same period in 2020. Compared with low levels last year, Toyo’s profitability also increased. Operating income amounted to 26,958 million yen, up 240.0 per cent.
Toyo Tire Corporation shares that as of 1 July 2021, its Europe Project Development Department will cease being directly managed by the company’s Business Headquarters and will be transferred to the Production Headquarters, where it will be placed under the Headquarters Division.
Some 600 athletes from across Europe are heading to Toruń, Poland for the European Athletics Indoor Championships 2021, which will take place between 5 and 7 March. Toyo Tires returns as an official partner, continuing the relationship that began at the event held in Berlin three years ago.
Toyo Tire Corporation says it is employing materials informatics (MI) in its tyre development to predict the properties and optimise the material structure of the rubber materials it works with. MI is a component of Toyo Tire’s ‘Nano Balance Technology’ rubber material development platform, and was realised in collaboration with SAS Institute Japan.
A new strategic partnership between Toyo Tire Corporation and automotive component manufacturer JAOS Corporation aims to increase the value of both brands within the SUV and 4×4 sector around the world. The two Japanese companies will collaborate in marketing activities and leverage their aggregate knowledge gained through joint participation in motorsports events and original product testing.
Toyo Tires is an official partner to the 2019 AIG Women’s British Open Golf Tournament, which will take place at Woburn Golf Club between 1 and 4 August. In addition to visibility on signboards around the course and the video screen, Toyo will appear within the official programme. It will also promote the event through Toyo social media channels.
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.
Donald Bunn, president of Toyo Tire North America Manufacturing Inc., has assumes the additional role of chief executive officer, effective 1 January 2018. He takes over as chief executive officer from James Hawk, who as of 1 December 2017 is chairman and chief executive officer of Toyo Automotive Parts (USA), Inc.
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).
Toyo Tire U.S.A. Corp. (TTC) has promoted Roy Bromfield to president and chief executive officer. In this role, he is responsible for all product categories of Toyo-branded business in the US replacement market.
Toyo Tire & Rubber Co., Ltd.’s Osaka head office has produced a video in support Leicester City Football Club, which the company sponsors ahead of the English Premier League’s 2016/2017 season, which starts 13 August when Leicester visits Hull.