Toyo Tire : Financial Results for 2nd Quarter of FY2023
August 09, 2023 at 10:27 pm EDT
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Financial Results
for 2nd Quarter of FY2023
August 10, 2023
１．Financial Results for 2nd Quarter of FY2023
2．Financial Forecast for FY2023
3. Topics
Highlights of Financial Results
Net sales hit the record high (for the Second Quarter) of 265.5
billion yen, driven mainly by growing sales of light truck tires in North America.
Buoyed by external factors such as ocean freight cost, forex and other factors,
operating income increased year-on-year to 26.7 billion yen.
Profit attributable to owners of parent came in at 29.1 billion yen, which
represents a year-on-year decrease primarily owing to a decrease in gain on sale of securities
Given the current situation, full-year forecasts for operating income have been revised up from 50.0 billion yen to 60.0 billion yen, and profit attributable to owners of parent, from 29.0 billion yen to 55.0 billion yen.
Dividend per share forecasts have been revised up from 35 yen to 58 yen for
year-end payments, and from 55 yen to 78 yen for annual payments.
2/25
Financial Results for 2nd Quarter of FY2023（Jan-Jun）
(Unit: Millions of Yen)
2023
2022
Change
2023
2023
Change
Change (%)
Change
Apr-Jun
1H Results
1H Results
1H Forecast
(YoY)
Results
Net Sales
265,457
223,667
＋41,790
＋18.7％
259,000
＋6,457
136,296
+14,403
Operating
26,673
25,972
＋701
＋2.7％
18,000
＋8,673
12,099
＋2,299
Income
Margin
10.0％
11.6％
－
－
6.9%
－
Ordinary
38,761
38,509
＋251
＋0.7％
13,000
＋25,761
Income
Margin
14.6%
17.2%
ー
ー
5.0%
ー
Profit
Attributable
29,122
31,030
(1,907)
(6.1％)
8,600
＋20,522
to Owners of
Parent*
8.9％ ー
22,959 ＋4,980
16.8% ー
18,239 ＋5,007
*Profit attributable to parent company shareholders
Interim
Dividends
20 Yen
30 Yen
(10 Yen)
ー
per Share
1
USD
135 Yen
122 Yen
＋13
Yen
1
EUR
144 Yen
132 Yen
+12
Yen
3/25
Analysis of Operating Income for 2nd Quarter of FY2023（Jan-Jun）（vs 2022）
(Unit: Billions of Yen)
Tires
Others
＋0.1
＋0.6
Sales
Production
SGA
Raw
Forex
Freight
Plant
Automotive
Start-up
Other
Total
Factors
Cost
Expenses
Materials
Rate
Cost
Parts
Cost
Jan-Mar
+0.4
(1.5)
(0.4)
(2.8)
+3.7
+0.3
(1.7)
+0.5
+0.0
(1.6)
Apr-Jun
(3.3)
(0.4)
(1.8)
(0.2)
+1.5
＋6.7
(0.4)
＋0.2
+0.0
＋2.3
4/25
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Disclaimer
Toyo Tire Corporation published this content on 10 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2023 02:26:05 UTC.
Toyo Tire Corporation, formerly Toyo Tire & Rubber Co., Ltd., is a Japan-based company mainly engaged in the tire business and diver tech business, as well as the provision and maintenance of modules, financing and operation. The Company operates through two business segments. The Tire segment is engaged in the manufacturing and sale of various tires used in passenger cars, trucks, buses, construction equipment and industrial vehicles. The Diver Tech segment is engaged in the manufacturing and sale of industrial and construction materials, transportation equipment, heating insulating and waterproof materials and other related materials. The other business is engaged in the loan, credit purchase and real estate businesses.
TOYO TIRE CORPORATION 
