Structural, management changes at Toyo Tires
Toyo Tire Corporation has announced changes to its organisational structure as well as key personnel appointments. All take effect 1 July 2024.
Toyo Tire Corporation has announced changes to its organisational structure as well as key personnel appointments. All take effect 1 July 2024.
Toyo Tire Corporation has announced that its Open Country A/T III product has been selected as original equipment for the new Lexus GX, which went on sale in April 2024 in North America and elsewhere.
Toyo Tire Corporation should have no complaints about 2023, at least when looking at the company’s key financial figures. The Japanese firm has announced an 11.2 per cent year-on-year increase in net sales, to 552.8 billion yen (£2.9 billion). Operating income rose 74.6 per cent year-on-year, to 76.9 billion yen (£406.3 million) with a group-wide profit margin of 13.9 per cent.
Toyo Tire Corporation has appointed Koichi Inoue general manager of its Asia & Oceania Sales Division, effective 1 April 2024. Inoue joins the tyre maker from Mitsubishi Auto Leasing Corporation, where he served as the division’s chief executive.
Toyo Tire Corporation has announced changes related to its business within Europe. Effective 1 February, the company is “constructively” dissolving its International Production Division’s Europe Project Development Department. Meanwhile, Takanori Murase will become the new General Manager of Toyo Tire Corporation’s Europe, Sales Department and Sales Division for the Africa & Middle East region, effective 1 April 2024.
Toyo Tires has rung in the New Year with several management changes. As of 1 January 2024, Ralf Gutena succeeds Kenta Kuribayashi as president of Toyo Tire Deutschland GmbH. Gutena remains director of sales and marketing at the company’s European head office, Toyo Tire Holdings of Europe GmbH. Kuribayashi continues in his remit as president of Toyo Tire Holdings of Europe GmbH.
Toyo Tire Corporation has published its Integrated Report 2023, a document that provides information about the company’s financial performance and activities in other areas, including progress in Mid-Term ’21 Plan, the company’s mid-term business plan.
Toyo Tire Corporation will end the manufacture of non-tyre automotive parts at its subsidiary in the USA. The cessation of production at Toyo Automotive Parts (USA), Inc. will take effect on 31 October 2023, and the company will be dissolved as a business entity. The closure of the Franklin, Kentucky-based business affects (as of June 2023) 207 employees.
Toyo Tire Corporation has appointed Masaomi Kono division general manager of its Europe, Africa & Middle East sales division and also, confusingly, general manager of said division, as well as general manager of the Europe, Africa & Middle East sales department. Kono begins in these roles, and presumably will receive slightly larger business cards, on 1 April 2023.
Teppei Shigeno will end his tenure as president of Toyo Tyre (UK) Ltd. on 1 April 2023. Toyo Tire Corporation has not yet announced who will succeed him in this role.
As of 1 January 2023, Shoji Hirao takes on further responsibilities for sales within Toyo Tire Corporation’s Europe, Africa & Middle East business. In addition to his existing remit as division general manager for the Europe, Africa & Middle East sales division and sales headquarters, Hirao has been appointed general manager of the Europe, Africa & Middle East sales department and sales division.
With the start of production at its new factory in Serbia drawing nearer, Toyo Tire Corporation is changing its organisational structure in Europe. Toyo Tire Europe GmbH, which has served as the sales vehicle and sales headquarters within the region, will be reorganised into a holding company that includes the Serbian plant under its umbrella. From 1 June 2022, the tyre maker will thus be represented in Europe by Toyo Tire Holdings of Europe GmbH.
Following the publication of stronger than expected second-quarter 2021 financial results that returned the bottom line to profitability despite pandemic- and seismic-rubber-related headwinds, Toyo published a statement ramping up its full-year 2021 estimates. See accompanying table (below) for further details.
Toyo Tire Corporation has re-examined and updated its natural rubber procurement policy and established this as an independent policy separate from the company’s CSR Procurement Guidelines that prescribe the proper procurement process for the Toyo Tire Group (the Group).
Toyo Tire Corporation shares that as of 1 July 2021, its Europe Project Development Department will cease being directly managed by the company’s Business Headquarters and will be transferred to the Production Headquarters, where it will be placed under the Headquarters Division.
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