Suppliers

Toyo's Overall 1H 2019 Results Are Mixed

Posted on August 11, 2019

Sales were down in the first half, but Toyo Tire Corp. managed to increase its income-to-sales ratio with help from a 6.4% increase in profit attributable to owners of the parent company.

Toyo posted net income of 7.5 billion yen on net income of more than 178.5 billion yen for its first half ended June 30, 2019. That compares to income of 7 billion yen on sales of 185.7 billion yen for the same period last year.

Based on the exchange rate on June 30, 2019, Toyo recorded net income of $69.5 million on net sales of more than $1.6 billion. The company's income-to-sales ratio was 4.2%, up from 3.8% in the first half of fiscal 2018.

Operating income was down 26.2%, from 20.8 billion yen in 1H 2018 to 15.3 billion yen ($141 million) in 1H 2019.

Results by Business Unit

Compared to fiscal 2018, Toyo's Tire Business Unit posted net sales of 155.6 billion yen ($1.3 billion), a 2.8% decrease, and an operating income of 16.1 billion yen ($148.92 million), a decrease of 28.9%.

The Automotive Parts Business Unit posted net sales of nealry 22.9 billion yen ($211.5 million), an increase of 1%, and an operating loss of 756 million yen ($7 million), an increase of nearly 1.1 billion yen from the same period for fiscal 2018.

Related Topics: Toyo financials

Comments ( 0 )
More Stories
Tireco says the new Nankang NK Sport Conqueror M/T-1 was developed to expand the NK Sport family of products into a formidable truck and Jeep tire capable of extreme, outdoor recreational conditions.
Product Tireco Adds Mud Terrain to NK Sport LT Line

The new Nankang NK Sport Conqueror M/T-1 comes in 25  original equipment replacement and aftermarket sizes in 15- to 20-inch wheel diameters, including flotation sizes up to 35 inches tall.

Lisle says its new brake flaring took kit (no. 33260) comes with an internal deburring tool to help make flares.
Product Lisle Has Brake Flaring Tool for Tight Spaces

A new brake flaring tool kit from Lisle Corp. has a low-profile design to allow the two most popular tubing sizes to be flared in tight spaces.

News ATEQ Names Technical Support Specialist

ATEQ TPMS Tools LC has named Rafid Abood to the position of technical support specialist.

Article The Low-Down on Load Speed Index

Uncertainty about ag tire load speed index continues to abound. A tire with too low of a load/speed index leads to overloading the tire, premature wear, accidents and spills. The best advice: "be real" about the machine's use to determine an accurate load index.

News Registration Opens for Content Professionals Event

The Automotive Content Professionals Network is now accepting registrations for its 47th Knowledge Exchange Conference.

News BKT Continues Sports Sponsorships

Balkrishna Industries Ltd. will be the title sponsor of French soccer league Ligue 2 for the 2020/2021 season.

News Pirelli Receives Top Rating from CDP

Pirelli & Cie SpA has earned a place on the "Climate A" list prepared by CDP, formerly known as the Carbon Disclosure Project.

Thirteen Truck-Plus assemblies with leveling kits for light trucks are part of KYB Americas' expanded application coverage.
Product KYB Adds Coverage for 21 Million Vehicles

KYB Americas Corp. has released 46 new part numbers for replacement strut assemblies covering late model cars, sport utility vehicles and pickup trucks.

Ceat has found a distribution partner in Costa Rica: Trac-Taco. From left, Miguel Yamuni and Mario Madriz from Trac-Taco, Alan Thomas, general manager of Centro Llantero Los Guarapos, and Tarang Srivastava, general manater of North America for Ceat.
News Ceat Finds a Tire Distributor in Costa Rica

Ceat Specialty Tires Inc. has partnered with a Costa Rican tire distributor to sell Ceat ag, off-the-road and industrial tires.

News Last Chance to Nominate a Goodyear Highway Hero

Goodyear Tire & Rubber Co. has extended the timeline to submit nominations for the 2020 Highway Hero Award, which recognizes truck drivers who protect the safety of others.

News Hankook, University Collaborate on Future Mobility Project

Hankook Tire America Corp. is working with the University of Cincinnati (Ohio) on the school’s Design Innovation 2020 project.

News Sentury Announces Refresh of Landsail Brand

Sentury Tire USA Inc. is refreshing its Landsail brand as part of the company’s “new strategy to communicate a clearer message to both end users and trade customers.”

Be the First to Know

Get the latest news and most popular articles from MTD delivered straight to your inbox. Stay on top of the tire industry and don't miss a thing!