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May 17

Toyo Tires’ Q1 Net Sales Down 8.9% Year-Over-Year

Toyo Tires‘s first-quarter financial reports indicate that the company posted net sales of 82,094 million yen (approximately $764.3 million), a decrease of 8.9% from the same period of fiscal year 2019.

Toyo’s tire business net sales (approximately $673.09 million) was down 8.2% from Q1 2019, while its automotive parts business net sales (approximately $91.07 million) was down 14% from Q1 2019.

The company’s operating income at the end of Q1 2020 was 6,936 million yen (approximately $64.57 million), a decrease of 31.8% from Q1.

Source: Tire Review

Tire and Rubber Association of Canada

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