Reforecast Sees Toyo Sales Downwardly Revised
Toyo Tire & Rubber has made several revisions to its consolidated and non-consolidated performance forecasts for the fiscal year ending March 31, 2009. The company’s previous forecasts were announced on February 9, 2009. Consolidated forecast net sales for the year have dropped four billion yen to 328 billion (£2.3 billion), while operating income has been downwardly adjusted by a billion yen to minus three billion (-£21.2 million). Net income, now forecast to be minus 10.8 billion yen (-£76.4), is up from February’s estimate of minus 12.7 billion.