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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