Toyo Tires Announces Business Performance for Q3 2023

Toyo Tire Corporation (“the Company”; President & CEO: Takashi Shimizu) announces its consolidated business performance for the third quarter of fiscal year 2023 (January 1, 2023 through December 31, 2023) as follows:

Quantitative information concerning the quarterly financial results (1) Business Results

• Net Sales: 409,221 million yen (an increase of 58,790 million yen, or 16.8% from the same period in FY2022)
• Operating Income: 50,324 million yen (an increase of 18,932 million yen, or 60.3% from the same period in FY2022)
• Ordinary Income: 64,489 million yen (an increase of 19,201 million yen, or 42.4% from the same period in FY2022)
• Profit Attributable to Owners of Parent: 56,768 million yen (an increase of 11,999 million yen, or 26.8% from the same period in FY2022)

(2) Results by Business Unit

The Tire Business Unit posted net sales of 374,163 million yen (an increase of 54,049 million yen, or 16.9% from the same period in FY2022) and an operating income of 50,278 million yen (an increase of 16,539 million yen, or 49.0% from the same period in FY2022).

The Automotive Parts Business Unit posted net sales of 35,045 million yen (an increase of 4,795 million yen, or 15.9% from the same period in FY2022) and an operating income of 46 million yen (an increase of 2,393 million yen from the same period in FY2022).