Toyo Tyre & Rubber has postponed plans to build a new Asian plant and expand US output after vehicle sales slumped amid a global economic slowdown and the company slashed its full-year operating income forecast, company officials said.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


In its three-year business programme released in May, Toyo Tyre said it would invest about JPY24bn to build a new tyre plant in Asia in fiscal 2010, which starts in April 2010, and about JPY28bn to increase annual US output by 3.2m tyres in fiscal 2011.


But the company is [re]considering the plans while watching the situation that is now difficult, a company official told Kyodo News.


As it reviewed first half results, the company revised its full-year operating income forecast down almost 83% to JPY1bn from JPY5.8bn on sales down 5.9%.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Auto Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Auto Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now