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.
At this month’s Tokyo Auto salon, Toyo Tires presented a concept tyre that utilises 90 per cent sustainable materials. Prior to this Sustainable Concept Tyre, the highest ever usage rate of sustainable materials in a Toyo tyre was 50 per cent, as seen in the Open Country MT/R tyres that have seen action in the 2024 Dakar Rally. The tyre maker thus considers the new concept, which “dramatically surpasses this share,” a “step forward towards a more viable future mobility.”
Toyo Tires won the Grand Prize in the uprated SUV category for the Subaru Legacy Boost Gear Package it exhibited at Tokyo Auto Salon 2024.
Toyo Tires is working with its distribution partner in Hungary, AKH to support László Bunkoczi who is participating in the 15th edition of the Africa Eco Race. Bunkoczi lined up in the Rally Raid category in Monaco on 30 December. After crossing to Morocco the following day, the Africa Eco race runs over 6000km through Morocco, Mauritania and Senegal before reaching its conclusion in the historic city of Dakar on 14 January.
Toyo Tires has renewed its partnership with European Athletics. The tyre maker will continue be an official partner until at least 2027 after signing another four-year deal. Toyo first became an Official Partner of European Athletics ahead of the Berlin 2018 European Athletics Championships, meaning the new deal will see it complete a decade-long commitment.
Toyo is supporting the Toyota Auto Body Team for the fourth consecutive year in the 2024 Dakar Rally. The manufacturer has supplied the Toyo Open Country MT/R in size LT285/70R17 116/113P for fitment on the team’s two Toyota Land Cruiser 300 GR. The team will compete over 5,000km of special stage and nearly 8,000km in total before the conclusion of the event in Yanbu on the shores of the Red Sea on 19 January.
ETRMA Members formally approved the application of Toyo Tires to become a full Member of the Association as of 1 January 2024 during ETRMA’s 9 November board meeting.
Toyo Tire Holdings of Europe has formed an industry-university partnership for the research and development of sustainable raw materials with the University of Novi Sad in Serbia. Toyo Tire corporate officer Kenta Kuribayashi and University of Novi Sad faculty dean Biljana Pajin signed the agreement on 3 November in Serbia’s second-largest city. Toyo Tire produces tyres in Serbia. The Japanese manufacturer said that it intends to promote technology development through this industry-university partnership and wishes to contribute to educational policies in Serbia.
Toyo Tire Corporation representative director, president and CEO, Takashi Shimizu, has been awarded the Medal with Blue Ribbon in the 2023 autumn conferment of medals. The Japanese Medal with Blue Ribbon is awarded to individuals who have achieved in the areas of public welfare and education.
Toyo Tire Corporation president and CEO Takashi Shimizu announced the following changes of assignments for a corporate officer as well as further personnel changes in statement released on 30 October 2023.
Toyo Tires has renewed its partnership with the Japan National Football Team. The tyre manufacturer has supported the “Samurai Blue” since 2021. Toyo has released a TV commercial called “Blue, passionate, run” to mark the renewal. The video will be shown in subways and on television, the company said. Toyo added that it plans to follow the team to the next World Cup in North America in 2026.
Toyo Tires joined Dallas Mavericks guard Luka Dončić at the launch of his new Nike basketball shoe, the Luka 2 Lake Bled on 16 September. Attended by several NBA stars, the event included a 3×3 basketball tournament on a floating court on picturesque Lake Bled, Slovenia. Toyo Tires said it was pleased to partner with Dončić on the launch event; the tyre maker presented its brand to spectators at the match along with the thousands of viewers of the event on the TV and YouTube broadcast.
Toyo Tire Corporation has appointed Hiroaki Takizawa general manager of its Europe, Africa & Middle East Sales Department and Sales Division. Takizawa joins the company on 1 September, succeeding Masaomi Kono in these roles.
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.
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