Toyo Tire reports record Q3 net sales, raises full-year operating income forecast

Toyo Tire Corporation announced record net sales of JPY 435,289 million for the first nine months of fiscal year 2025, a 3.5% increase year-over-year. Despite this, operating income decreased by 5.5% to JPY 72,068 million, and profit attributable to owners of parent declined by 3.9% to JPY 53,057 million, primarily due to foreign exchange losses and higher costs. The company's full-year operating income forecast for FY2025 has been raised to JPY 95,000 million (up JPY 5,000 million from previous forecast), reflecting an optimistic outlook on raw material prices and exchange rates.

The company's full-year dividend forecast remains unchanged at JPY 130 per share, with a dividend payout ratio of 31%. Production volume for tires in Jan-Sep 2025 totaled 179.4 thousand tons, with a full-year forecast of 236.8 thousand tons. Notably, tire sales volume in North America increased by 1% year-on-year for Jan-Sep 2025.

In product news, Toyo Tire launched the NANOENERGY M648 EV tire for electric route buses, featuring improved wear resistance and lower rolling resistance. Additionally, three of its tire models—OPEN COUNTRY R/T TRAIL, OPEN COUNTRY H/T II, and PROXES LuK II—received the Good Design Award 2025. The company also expanded its OBSERVE W/T-R studless tire lineup for SUVs.