Toyo Tire Net Sales Down, Overseas Replacement Market Up

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In Toyo Tire & Rubber Co. financial results for fiscal year 2016, the tiremaker reported decreased tire sales overall, but an increase in unit sales in the overseas replacement market.

According to the report, Toyo’s tire business net sales decreased 6.7% year-over-year to 381,635 million yen (approximately $3.34 billion) in 2016, while operating income decreased 21.7% to 45,405 million yen ($397 million). Toyo attributed this decrease in net sales to net to a strong yen and other factors.

Read the source article at Tire Review