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Key Developments: Toyo Tire & Rubber Co Ltd (5105.T)

5105.T on Tokyo Stock Exchange

1,548JPY
2 May 2016
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Latest Key Developments (Source: Significant Developments)

Toyo Tire & Rubber to sell shares of Kinugawa Rubber Industrial and expects extraordinary profit for FY 2016
Friday, 11 Mar 2016 05:45am EST 

Toyo Tire & Rubber Co Ltd:Says will take the takeover bid offered by a Tokyo-based company for shares of Kinugawa Rubber Industrial.Planned to sell entire holding 8 mln shares of Kinugawa Rubber Industrial to the Tokyo-based company with takeover bid price for 780 yen per share.Expected extraordinary profit of 5,599 mln yen for FY ending Dec. 2016, if selling entire holding shares of Kinugawa Rubber Industrial.  Full Article

Toyo Tire & Rubber Co Ltd likely headed to court over data falsification charges - Nikkei - Reuters
Tuesday, 2 Feb 2016 03:06am EST 

Toyo Tire & Rubber Co Ltd:Toyo Tire & Rubber likely headed to court over data falsification, with authorities planning to investigate allegations that co's actions broke law - Nikkei - RTRS.  Full Article

Toyo Tire & Rubber lowers consolidated full-year revenue and net profit outlook for FY 2015
Monday, 9 Nov 2015 01:00am EST 

Toyo Tire & Rubber Co Ltd:Says the company lowered the consolidated full-year outlook for revenue to 410,000 million yen from 415,000 million yen for the fiscal year ending Dec. 31, 2015.Sees an increase of operating profit forecast to 59,000 million yen from 55,000 million yen.Sees an increase of ordinary profit forecast to 52,000 million yen from 51,000 million yen.Sees a decrease of net profit forecast to 5,000 million yen from 12,000 million yen.Sees a decrease of earnings per share to 39.37 yen from 94.49 yen.FY 2015 revenues of 417.77 billion yen, net profit of 13.96 billion yen – Thomson Reuters I/B/E/S.Comments that the decreased demand and decreased raw material costs are the main reasons for the forecast.Expects to record 9,114 million yen product compensation allowance and expense on product compensation measurement as extraordinary loss for the third quarter of the fiscal year ending Dec. 2015.  Full Article

Toyo Tire & Rubber announces result of additional investigation
Friday, 30 Oct 2015 02:00am EDT 

Toyo Tire & Rubber Co Ltd:Announces result of additional investigation, regarding the quality issues of its anti-vibration rubber products.According to the investigation, there is a quality problem in the No.2 product (the total amount of 2,880).  Full Article

Toyo Tire & Rubber announces change of president
Monday, 28 Sep 2015 10:00pm EDT 

Toyo Tire & Rubber Co Ltd:Appoints Takashi Shimizu as new president of the company to succeed Takuji Yamamoto effective Nov. 12.  Full Article

Toyo Tire & Rubber expects extraordinary loss for Q3 of FY 2015
Friday, 11 Sep 2015 02:30am EDT 

Toyo Tire & Rubber Co Ltd:Says it expects an extraordinary loss of 4,209 million yen for Q3 of the fiscal year ending Dec. 31, 2015.Says the loss is recorded as reconciliation payment.  Full Article

Toyo Tire & Rubber expects extraordinary loss for Q2 of FY 2015
Monday, 10 Aug 2015 03:10am EDT 

Toyo Tire & Rubber Co Ltd:Says it expects an extraordinary loss of 164 million yen for Q2 of the fiscal year ending Dec. 2015.Says the loss is recorded as provision of allowance for product compensation.  Full Article

Toyo Tire & Rubber lowers consolidated full-year revenue outlook for FY 2015
Sunday, 9 Aug 2015 10:00pm EDT 

Toyo Tire & Rubber Co Ltd:Says the company lowered the consolidated full-year outlook for revenue to 415,000 mln yen from 425,000 mln yen for the fiscal year ending Dec. 31, 2015.Operating profit forecast increased to 55,000 mln yen from 49,000 mln yen.Ordinary profit forecast increased to 51,000 mln yen from 45,000 mln yen.Sees a decrease of net profit forecast to 12,000 mln yen from 19,000 mln yen.Sees a decrease of earnings per share to 94.49 yen from 149.61 yen.Says operating profit and ordinary profit outlook raised due to the decreased raw material price and yen devaluation, net profit outlook lowered due to the extraordinary loss for Q2 of FY 2015.  Full Article

Toyo Tire & Rubber announces change of chairman and president
Tuesday, 23 Jun 2015 03:00am EDT 

Toyo Tire & Rubber Co Ltd:Says Akira Nobuki to resign from position of chairman with effective date July 1.Takuji Yamamoto to resign from position of president and says Takuji Yamamoto will in current position till the end of extraordinary general meeting of shareholders.For clarify management responsibility in seismic isolation rubber problem.  Full Article

Toyo Tire & Rubber amends consolidated mid-year and full-year outlook for FY 2015 and expects extraordinary loss for Q1 of FY 2015
Monday, 11 May 2015 11:00pm EDT 

Toyo Tire & Rubber Co Ltd:Expects extraordinary loss of 14,000 million yen as provision for products compensation for Q1 of FY ending Dec. 2015.Says the company lowered the consolidated mid-year outlook for revenue to 196,000 million yen from 212,000 million yen for FY ending Dec. 2015.Confirms the operating profit forecast at 21,500 million yen.Confirms the ordinary profit forecast at 19,500 million yen.Sees a decrease of net profit forecast to 3,000 million yen from 12,000 million yen.Sees a decrease of earnings per share to 23.62 yen from 94.49 yen.Says the company reaffirmed the consolidated full-year outlook for revenue at 425,000 million yen for FY ending Dec. 2015.Confirms the operating profit forecast at 49,000 million yen.Confirms the ordinary profit forecast at 45,000 million yen.Sees a decrease of net profit forecast to 19,000 million yen from 28,000 million yen.Sees a decrease of earnings per share to 149.61 yen from 220.47 yen.FY 2015 revenues of 427.40 billion yen, net income of 29.74 billion yen – Thomson Reuters I/B/E/S.Comments the mid-year sales correction and extraordinary loss are the main reasons for the forecast.  Full Article

Canada competition watchdog fines Japan's Toyo Tire

TORONTO Canada's Competition watchdog said on Wednesday it has fined Japanese car and truck tire maker Toyo Tire & Rubber Co C$1.7 million for its alleged participation in an international bid-rigging conspiracy.

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