Retail

Toyo updates business plans

Posted on June 11, 2014

Toyo Tire & Rubber Co. Ltd has formed a new three-year mid-term business plan called “Mid-term ’14 Go Beyond” that sets targets for the end of 2016 as well as 2018.  

Toyo says a favorable business environment, including correction of the strong yen and stabilization of raw material prices, helped it meet targets and goals set in May 2011.

The company reached its Mid-term ’11 plan targets ahead of schedule by boosting supply capacity and steadily implementing other measures based on the plan, while improving product and market mixes and strategically utilizing its resources.

Highlights of the tire business strategy portion of Toyo's new plan are:

Product Strategy

 

* Fortify revenue base by optimizing product mix and expanding sales.

    - In the global market, aggressively boost sales in the SUV/CUV/pickup truck category and further solidify the company’s unique presence.

* Strengthen product development capacity in truck and bus tire category.

    - Achieve top-class product competitiveness through differentiating technology.

Market Strategy

 

* Bolster market mix adapted to market movement. (North America)

    - Focus on supply capacity and sales force as source of revenue. (Japan, Europe, Middle East)

    - Identify market characteristics and develop foundation in the medium term. (China, Southeast Asia, Central and South America)

    - Launch strategies for the unique themes of each market.

Brand Strategy

 

* North America

    - Further establish overwhelming presence in North America through off-road racing sponsorships and digital communications.

* Globally

    - Boost identity in global marketplace through influential content in the form of AC Milan Premium Sponsorship.

Supply Strategy

 

* Increase supply capacity globally and boost overseas production ratio.

* Realize an optimal supply system through efficient & effective operation of a flexible supply foundation.

Technology Strategy

 

* Further elevate technical superiority.

    - Balance both aesthetic quality and high performance through differentiating technology.

    - Speed up development and boost cost competitiveness.

 For recent news on Toyo see ‘Toyo announces leadership changes.’

Related Topics: business plans, Toyo Tire & Rubber Co. Ltd.

Comments ( 0 )
More Stories
News

NCTDA to Honor Dealers at 2017 Expo

The North Carolina Tire Dealers Association (NCTDA) will honor its 2017 Dealer of the Year and induct two new members into its Hall of Fame.

News

Discount Tire Expands in Houston Metropolitan Area

Discount Tire has added a store in Sugar Land, Texas. It is the third Discount Tire outlet in Sugar Land, which is part of the Houston metropolitan area, and the 12th location in Fort Bend County.

News

Denso Expands TPMS Sensor Coverage

Denso Products and Services Americas Inc. has added 14 part numbers to its selection of First Time Fit tire pressure monitoring system (TPMS) sensors. The new part numbers add coverage for more than 10 million European and Korean vehicles.

News

Goodyear Declares 21st Straight Dividend

Directors of Goodyear Tire & Rubber Co. have declared a quarterly dividend of 10 cents per share of common stock. The dividend is payable March 1, 2017, to shareholders of record on Feb. 1, 2017.

News

Hotwire Will Return After MLK Holiday

Due to the Martin Luther King Jr. holiday, Modern Tire Dealer will not publish Hotwire on Monday. Look for the next edition on Tuesday, Jan. 17.

Be the First to Know

Get the latest news and most popular articles from MTD delivered straight to your inbox. Stay on top of the tire industry and don't miss a thing!