Toyo's sales jump more than 10%
Toyo Tire & Rubber Co. Ltd.'s net sales for the first three quarters of its 2005 fiscal year (April 1 to Dec. 31, 2005) totaled 227.3 million yen, a 10.6% increase over the same period during the previous year.
Toyo's operating income was 13.1 million yen, up 26.4%, while its net income rose 12.9% to 6.5 million yen.
Toyo's overseas sales, including North America, totaled 152.9 million yen, a 13.4% increase over previous-year levels; operating income rose nearly 25% to 12.5 million yen.
"Overseas sales increased significantly year-on-year due to favorable sales in North America and other key markets and the depreciation of the yen," say Toyo officials.
"Sales of original equipment tires increased year-on-year as a result of an increase in the number of cars equipped with our tires, which coincided with a slight increase in domestic vehicle production," says the Osaka, Japan-based company.
"Domestic sales of replacement tires showed a year-on-year growth, backed by brisk winter tire sales owing to heavy snowfall across the nation this year."