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By TT News| Feb 16, 2021

Toyo Tire FY20 Sales, Operating Profit Decline

Toyo Tire’s revenues and operating income fell in the Fiscal Year 2020.

Net sales declined 8.9 percent to 344 billion yen y-o-y.  Operating income stood at 37 billion yen, a 5.5 percent drop y-oy.

The company’s tyre business unit posted net sales of 307 billion yen, a decrease of 26,229 million yen or 7.9% from the same period of FY2019. Operating income of 39 billion yen, a decrease of three million yen or 7.4% from the same period of FY2019.

The automotive parts business unit posted net sales of 37 billion yen, a decrease of 7,441 million yen or 16.7% from the same period of FY2019 and an operating loss of 2,020 million yen, an increase of 899 million yen from the same period of FY2019.

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