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Toyo raises commercial tire prices in Japan

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Toyo Tire & Rubber Co. Ltd. will raise commercial tire prices in Japan by an average of 7% effective March 1, 2011.

The increases will apply to Toyo's replacement truck, bus, commercial light truck and "other" commercial tires -- both summer and winter.

"The price of natural rubber, main raw material of the tire, has continued to increasing as a record high level," says the company. "Petrochemical raw materials such as synthetic rubber, carbon black also has been keeping at high price level."

Toyo adds that it has minimized raw material prices through product mix and cost rationalization. However, its internal measures have not covered the raw material price increases completely.

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