Asia
Toyo Tire's Profit Climbs 15% in Q1
Toyo Tire's (TYO:5105) profit attributable to owners of the parent rose 15% to 15.5 billion yen for the first quarter from 13.5 billion yen a year earlier.The tire and rubber product manufacturer's net sales slipped 3.4% to 131 billion yen for the three months ended March 31 from 136 billion yen in the prior year, according to a Tokyo bourse filing on Friday.In a separate disclosure, Toyo Tire said the Middle East situation is expected to hit operating income by 16.6 billion yen, but expects to mitigate the impact through multiple measures.For the year ending Dec. 31, the company kept its operating income forecasts intact at 94 billion yen and annual dividend estimate unchanged at 135 yen per share.
TYO:5105
