Toyo Tire net sales down 9.8% in Q1

In the first quarter of 2020 Toyo Tire Corporation reported net sales of 82,094 million yen a decrease of 8,049 million yen (-9.8 per cent) compared with the first quarter of 2019. Its operating income for the quarter was 6,936 million compared to 10,174 million yen (-31.87%) in the first quarter of 2019.

The Tire Business Unit in particular posted net sales of 72,297 million yen, a decrease of 8.2 per cent on the same period of 2019, and an operating income of 7,399 million yen, compared to 10,542 million yen in the same period of 2019.