In the first quarter of 2020 Toyo Tire Corporation reported net sales of 82,094 million yen a decrease of 8,049 million yen (-9.8 per cent) compared with the first quarter of 2019. Its operating income for the quarter was 6,936 million compared to 10,174 million yen (-31.87%) in the first quarter of 2019.
Toyo Tire has signed a strategic partnership agreement with JAOS Corporation, the SUV automotive components manufacturer. Toyo and JAOS aim to increase the value of their brands in the SUV and four-wheel drive market around the world through mutual collaboration in marketing activities. The two companies will leverage their aggregate knowledge gained through joint participation in motorsports events and original product testing, for delivering products with enhanced appeal to the market.
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.
Toyo Tires has introduced a new visual marketing campaign based around its corporate blue colour. The new visuals follow up Toyo’s ‘Open Roads Await’ brand statement formulated in June 2019 to express “the frontier spirit” of the Toyo Tire Group, it states. Toyo reasons that the new imagery, which comprises a landscape awash in sky and ocean blues, reflects the company in its colour to “reaffirm” its message through a new website, music in the form of curated playlists and a specially commissioned song by Flynn Hudson, and prose. The new corporate imagery is being rolled out globally in 12 languages with a new video, which you can view below.
Representatives of Cooper Tires and Toyo Tires have respectively confirmed they’ll not exhibit at this year’s The Tire Cologne, as previously planned. Their decisions come as governments across Europe announce rigorous measures to delay the spread of coronavirus and reduce its impact wherever possible. Michelin announced its withdrawal as exhibitor last week.
Startup Europe Partnership (SEP), an initiative by the European Commission, has distinguished Fiege as an Open Innovation Challenger. Having first achieved this standard a year ago, Fiege is being distinguished for the second time in a row. The annual ranking also includes multinationals like Google, Nestlé and Bridgestone. Next to Fiege, a further three German enterprises were distinguished: Bosch, Daimler, and SAP.
Toyo Tires has sponsored German Bundesliga team Fortuna Duesseldorf for four seasons now and has signed a contract for a further three seasons until 2022. During this time Toyo has followed the team on their journey from Bundesliga 2 to Bundesliga 1.
When Toyo recently announced its intention to build a new tyre plant in Serbia it consolidated the country’s position as the leading location for new passenger car and light truck (PCLT) tyre manufacturing capacity in Europe. Toyo’s proposal follows Linglong’s decision to build its new European plant in the country and Cooper Tire’s plan to double the size of its facility there. Based on analysis of all announced capacity actions by Astutus Research (plant opening and expansion net of closures and downsizing), the Czech Republic is a distant second in terms of planned capacity additions between 2018 and 2026.
In just a few months’ time, Toyo Tire Corporation will begin research and development work at a new site in Europe. The tyre maker is setting up an R&D centre in Willich, Germany to support its future factory in Serbia, and intends to start operations there in the autumn. Having a local R&D presence in the vicinity of vehicle manufacturers and related companies will, says Toyo, be beneficial in terms of the quality and freshness of the information gained.
Yukio Hasegawa has been named the new president of Toyo Tire Corporation’s subsidiary in Russia, effective tomorrow. He succeeds Kenta Kuribayashi in this role. Kuribayashi remains chief executive officer of the Toyo Tire RUS LLC operation (and president of Toyo Tire Europe GmbH) and will additionally, as of tomorrow, become the Russian subsidiary’s chairman.
Toyo Tire Corporation has announced that it is investing 390.5 million euros in the construction of a new tyre manufacturing facility in Indijia City, Republic of Serbia. Construction of the Serbia plant will start in May 2020, with a view to initiating tyre manufacturing operations in January 2022.
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.
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