Revised Toyo Figures Show Improved Profitability
Toyo Tire & Rubber has made a number of revisions to the consolidated performance forecasts for the first half of the fiscal year ending March 31, 2010 (April 1, 2009 to September 30, 2009) that it released on May 11, 2009. Predicted net sales have been bumped down 7.4 per cent, or 10.4 billion yen (£69.7 million) to 129.6 billion yen (£868.3 million). Despite this reduction in sales, however, operating loss is expected to decrease from 2.8 billion yen to 1.3 billion yen (£8.7 million). Ordinary loss will also diminish, from 4.1 billion yen to 1.3 billion yen. Net loss also decreases from 4.2 billion yen to 2.0 billion yen (£13.4 million).