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

Tireco's Milestar Brand Launches Responsive Website

Tireco Inc.'s new mobile responsive website for Milestar tires is designed to showcase updated news, features and available tire sizes while serving as a hub for consumers to interact with the Milestar brand.

Kenda newcomer Chris Tolbert will help expand the Traction Dealer Network.
News

Chris Tolbert Joins Kenda USA

Tire Industry veteran Chris Tolbert has joined Kenda USA's North American Automotive Business team as director of business development. He will report to Vice President Brandon Stotsenburg, who says Tolbert will help "accelerate Kenda’s strong sales and brand awareness in the PCR and LTR segment with premium performance at a value price.”

The new Gabriel training menu is divided into two sections, one for light vehicle training and one for heavy-duty training. Both sections include a series of training videos for dealers and installers to better sell and install Gabriel shocks and struts.
News

Gabriel Website Offers Training Resources

Ride Control LLC has launched its Gabriel website training menu with a series of training options as an expansion of its Answerman technical service offerings. This includes videos, technical bulletins, online catalogs and FAQs for both light and heavy-duty vehicles.

News

Hankook Suffers Sales Slowdown in 2Q 2017

Hankook Tire Co. Ltd. posted income before taxes of 3.1 trillion won on net sales of nearly 17.3 trillion won for the second period ended June 30, 2017. That compares to income of 2 trillion won on sales of 16.4 trillion won for the same period in fiscal 2016.

News

Mighty Reveals New Brake Program

Mighty Distributing System of America Inc. has released an improved brake program that provides a “better” and “best” solution for automotive repair facilities and their customers.

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!