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:
* 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.
* 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.
* North America
- Further establish overwhelming presence in North America through off-road racing sponsorships and digital communications.
- Boost identity in global marketplace through influential content in the form of AC Milan Premium Sponsorship.
* Increase supply capacity globally and boost overseas production ratio.
* Realize an optimal supply system through efficient & effective operation of a flexible supply foundation.
* 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.’