Sales, Profits up at Toyo in Q1, 2010
During the first quarter of the 2010 financial year, Toyo Rubber received net sales of 72,162 million yen (£528.2 million), a 15.7 per cent increase on the same period last year. This increase in sales was matched by a 13 per cent increase in global tyre sales by volume, with a total of 43,700 tonnes of tyres produced in the three months to June 30, 2010. The bulk of this, 37,500 tonnes, was destined for the Japanese market. Operating income for the quarter was 2,612 million yen (£19.1 million), compared with an operating loss of 3,054 million yen a year earlier, and net income amounted to 743 million yen (£5.4 million) compared with a net loss of 2,620 million yen in the same period of 2009.