Toyo posts sales, income gains

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Toyo Tire & Rubber Co. Ltd. posted a net sales increase of 24 million yen to 169.7 million yen during April 1 to Sept. 30 of its 2007 fiscal year. During that same period, Toyo's operating income increased by one billion yen to 7 billion yen (up 19.5%), while ordinary income increased by 1.7 billion yen to 6.1 billion yen (up 40.6%), according to company officials.

"Compared to the same period of fiscal 2006, net sales within the tire segment increased by 23 million yen to 120 million yen (up 23.8%) and operating income increased by 1.7 billion yen to 6.9 billion yen (up 33.7%).

"Sales of original equipment tires and replacement tires for the domestic market, despite the effects of lower production volumes of car models equipped with Toyo's products, managed to maintain the same levels as those achieved in the first half of fiscal 2006, thanks to increased sales of high-value-added products.

"Meanwhile, the volume of overseas sales, centering mainly on the North American and European markets, surpassed the levels achieved in the same period of the previous fiscal year," Toyo officials continued. "Together with the continued trend of a weak yen, net sales exceeded the levels recorded for the same period a year earlier."

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