Toyo lists objectives for 2010 fiscal year
Improving its supply system is one of several goals that Toyo Tire & Rubber Co. Ltd. has set for its 2010 fiscal year.
Toyo recently published a list of objectives that it hopes to achieve this year, including:
* increased production at plants in Japan.
* reinforcing its technology and marketing strategies, including the development and marketing of eco-friendly tires.
* expanding and reinforcing its sales infrastructure "in important and emerging markets," according to company officials.
* responding to raw material price increases.
* promoting "business alliance with Bridgestone Corp."
Toyo published the results of its 2009 fiscal year several weeks ago. During 2009, the company posted net income of 2.9 billion yen on net sales of 287.7 billion yen. That compares to a net loss of 10.7 billion yen on sales of 328.4 billion yen for the previous fiscal year.
Based on the exchange rate on March 31, 2010, Toyo recorded revenue of $32 million on sales of $3.1 billion for its most recent fiscal year. Its income-to-sales ratio was 1%.