Toyo Changes Subsidiary Names

Over the Christmas break Toyo Tire & Rubber Co. Ltd. Changed the names of some of its second and third tier subsidiaries in the US. President and CEO Yoshio Kataoka announced the new names in a statement published on boxing day (26 December 2007). Toyo Tire International, Inc. will now be known as: Toyo Tire Holdings of Americas Inc.; While Toyo Tire (U.S.A.) Corp. has become Toyo Tire U.S.A. Corp,; Nitto Tire North America Inc. was renamed Nitto Tire U.S.A. Inc.; and Toyo Tire North America, Inc. is now Toyo Tire North America Manufacturing Inc. All the name changes took effect on 1 January 2008.

According to the manufacturer, Toyo is aiming to bolster the functions of its umbrella organization in the US. Toyo expects corporate value in the North American market to be boosted by moving strategic planning and supply chain management functions to “ground level” and “thus enhancing managerial speed in closer proximity to the marketplace.”