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

Union Official Calls Tariff Vote 'A Huge Mistake'

The leader of the United Steelworkers union says the International Trade Commission has made "a huge mistake" in not imposing tariffs on truck and bus tires from China. And based on early feedback from Modern Tire Dealer readers, tire dealers and particularly retreaders agree.

News

Two Asian Automotive Shows in One in March

Tyrexpo Asia 2017 and the inaugural edition of GarageXpo Asia will be held in conjunction with each other March 21-23, 2017, in Singapore. The events are organized by SingEx Exhibitions Pte. Ltd.

Bobby Hendry from 31 Inc. was from one of 80-plus vendors at the Tire Factory trade show. Here he talks to Mike Fleming, equipment supply manager for the dealer group, and Marc Thompson from Point S Everett in Everett, Wash.
News

Point S Rebranding Exceeds Expectations in the U.S., and Points to More Growth

Tire Factory Inc. members have rebranded the vast majority of their 206 stores to the Point S banner at a breakneck pace. And leaders of the Oregon-based cooperative are unveiling new programs with two big hopes: the momentum of current members continues, and more independent tire dealers join their network.

News

Cooper Enjoys a Full-Year Income-to-Sales Ratio of 8.5%

Cooper Tire & Rubber Co. posted net income of $69.3 million on net sales of $783.9 million for its fourth quarter ended Dec. 31, 2016. That compares to income of $59.2 million on sales of $775.5 million for the same period in 2015.

ATV has added 6 stores to its network of American Tire Depot stores in California.
News

ATV Opens 6 American Tire Depot Stores

ATV Inc. has acquired six stores in the greater Los Angeles metro area. The purchase expands ATV's network of American Tire Depot stores to 98 outlets, all in California.

News

MATDA Joins TIA's Social Media Platform

The Mid-America Tire Dealers Association (MATDA) has joined the social media content platform developed by the Tire Industry Association (TIA) and the Automotive Marketing Foundation (AMF).

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!