Toyo Reports ¥10 Billion Net Loss for Financial Year

Financial data for the fiscal year ending March 31, 2009 show reduced net sales and a net loss at Toyo Tire & Rubber. The company’s net sales of 328,371 million yen (£2.08 billion) represent an 8.08 per cent decrease on the previous year’s results, while operating income decreased from 13,168 million yen in the year to March 31, 2008 to a 2,964 million yen (£18.81 million) loss in the most recent period. The company recorded a net loss of 10,722 million yen (£68.04 million) in the year ending March 31; the previous year net profit stood at 6,137 million yen.