Toyo Tire & Rubber Co., Ltd.

Company Profile

■URL

http://www.toyo-rubber.co.jp/english/

■Address

2-2-13 Fujinoki, Itami-shi, Hyogo-ken, 664-0847, Japan

Business Overview

-The Company conducts business operations in two divisions: Tires and DiverTec (Chemical & Industrial products, Urethane products and Automotive parts).

-In May 2008, the Company announced that it will form a business and capital alliance with Bridgestone Corporation.
>>>Alliance with Bridgestone Corporation

-The Company owns tire brands: TOYO TIRES, NITTO, SILVERSTONE.

-The breakdown of tire sales in the fiscal year that ended in Dec. 2015 is as follows: OE tires (15.8%) and replacement tires (84.2%), with 40% for the North American market.

-The Company has a 4.6% share of the North American SUV, CUV, and pickup tire market (as of 2014, according to the Company's own research). It aims to expand its share in this segment to 6.0% by 2016, looking to establish a strong brand presence in the market.

Shareholders

-Listed on the first section of the Tokyo Stock Exchange  (As of Dec. 31, 2015)
Name or Company Name Investment Ratio (%)
Bridgestone Corporation 7.86
The Master Trust Bank of Japan, Ltd. (Trust Account) 5.31
Japan Trustee Services Bank, Ltd. (Trust Account) 4.94
JP MORGAN CHASE BANK 380634 3.89
Toyota Motor Corp 3.75
Mitsubishi Corporation 3.05
DEUTSCHE BANK AG LONDON-PB NON-TREATY CLIENTS 613 2.85
MSIP CLIENT SECURITIES 2.61
The Bank of Tokyo-Mitsubishi UFJ Ltd. 2.21
GOLDMAN SACHS INTERNATIONAL 1.84
Total 38.36

Products

Tire business
-Tires
-Tubes for tires
-Flaps
-Aluminum wheels

DiverTech Businesses
-Anti vibration rubbers

  • Engine mounts
  • Motors mounts
  • Member mounts
  • Differential mounts
  • Strut mounts
  • Bushes
  • Couplings
  • Exhaust mounts
  • Dynamic dampers

-CVJ boots
-Urethane seat cushions
-Air suspensions

History

Dec. 1943 Hirano Rubber Manufacturing established (with capital of 1.4 million yen).
Aug. 1945 Merged with Toyo Rubber Chemical, Inc., and the Company name was changed to Toyo Tire & Rubber Co., Ltd. (with capital of 9.5 million yen).
Produced footwear, tires, tubes, belts, recycled rubber and rubber coated fabric at the Amagasaki, Osaka, Ibaraki, Kawanishi, and Tokyo Plants, respectively.
Aug. 1947 Started exporting truck tires.
May, 1949 Listed on the Osaka Stock Exchange.
Jul. 1953 Started operations at the Itami Plant to manufacture passenger-car tires.
May 1955 Listed on the Tokyo Stock Exchange
Sep. 1961 Listed on the Nagoya Stock Exchange.
Dec. 1961 Established the Central Lab (currently the Technology Development Center, Ibaraki-shi)
Dec. 1962 Established Tohoku Toyo Rubber Inc. (Sendai-shi, Miyagi) for automobile tire production.
Jul. 1966 In order to launch tire sales in the USA, Toyo Tire (U.S.A.) Corp. was established as the first overseas sales subsidiary in the USA founded by a Japanese tire manufacturer.
Jun. 1971 Established Toyo Giant Tire Co., Ltd.
(currently Nippon Giant Tire Co., Ltd.)
Feb. 1974 Established Toyo Tyre & Rubber Australia Ltd.
Jul. 1975 Established Tire Testing Course in Miyazaki Prefecture, Japan, the first of its kind built by a Japanese tire manufacturer.
Apr. 1978 Merged with Tohoku Toyo Rubber
Feb. 1979 Formed a comprehensive business alliance with Nitto Tire Inc. that covered manufacturing, technology, sales, and general administration.
Nov. 1979 Established Hishito Tire Inc.
Nov. 1981 Formed a business tie-up with Continental (Germany)
Jan. 1983 Signed a technology agreement with General Tire (currently Continental North America Inc.).
Jun. 1983 Established Fukushima Plant (Fukushima-shi, Fukushima) in order to produce marine products as authorized by the government.
Apr. 1985 Established Nippon Giant Tire Co., Ltd.
(joint venture with Goodyear Tire & Rubber Company)
Apr. 1986 Established Nippon Giant Tire Co., Ltd. (joint venture with Goodyear Tire & Rubber Company)
Mar. 1987 Established a joint venture company Yoshin Kogyo with Zhengxin Rubber Industry (China) to develop business in anti-vibration rubber for automobiles.
Nov. 1988 Established a company, "GTY Tire Company" to manufacture radial-ply tires for trucks/buses as a joint venture with General Tire Company (U.S.) (currently Continental General Tire Company) and Yokohama Rubber.
Jan. 1996 Invested in Zhengxin Rubber (China) Inc., a subsidiary of Zhengxin Rubber Industry (Republic of China) in the field of passenger car tires.
Oct. 1996 Acquired Hishito Tire.
Dec. 1998 Itami Plant integrated into Kuwana Plant.
Sep. 1999 Formed a commercial alliance with Kinugawa Rubber Plant in the area of anti-vibration rubber products for automobiles.
Feb. 2000 8 domestic manufacturing offices acquired ISO 14001 certification.
Apr. 2000 Established Eastern Japan Automobile Parts Technical Center (Chiba Inage-ku).
Sep. 2000 Introduced independently operated profit centers.
Nov. 2001 Completed the main building of the "Toyo Technical Center", which is to become the central department for the R&D in the company, at (Itami-shi, Hyogo).
Aug. 2002 The Company entered into a capital participation in CSTP Tire (Xiamen) Co., Ltd. (China) in regards to radial tires for trucks/buses field,
Jan. 2003 Established Toyo Tire (Shanghai) Co., Ltd., which is a joint venture with Mitsubishi Corporation to sell tires in Shanghai, China.
Feb. 2003 Acquired a manufacturing subsidiary from Nichiasu Corporation and renamed it Soflan U-Board Co., Ltd. The subsidiary manufactures rigid urethane insulation boards.
Jun. 2004 Established Toyo Tire North America, Inc., an automotive tire manufacturing subsidiary in Georgia, U.S.A.
Jul. 2004 Established Toyo Advanced Technology Inc. in Nishi-ku, Osaka, a subsidiary to manufacture and sell polishing pads for semiconductor silicon wafer CMP equipment.
Sep. 2004 Established Toyo Automotive Parts (Guangzhou) Co., Ltd., a subsidiary to produce automotive anti-vibration rubber products in Guangzhou, China.
Apr. 2006 Merged Toyo Soflan Co,. Ltd. and Chubu Soflan Co., Ltd., forming a new company called Toyo Soflan Co., Ltd.
May 2008 Reached a basic agreement with Bridgestone Corporation to form a business and capital alliance.
Apr. 2010 Established a subsidiary, Toyo Tires Zhangjiagang Co., Ltd.,  to produce automotive tires in Chiangsu, China
Oct. 2010 Acquired all shares of Malaysia-based Silverstone Berhad, which manufactures and sell automotive tires, making the company a subsidiary.
Apr. 2011 Established tire manufacturing subsidiary "Toyo Tyre Manufacturing (Malaysia) Sdn Bhd (Current, Toyo Tyre Malaysia Sdn Bhd)" in Perak, Malaysia.
Jun. 2011 Acquired complete equity of tire manufacturing and sales company "Shandong Silverstone Luhe Rubber & Tyre Co., Ltd." in Shandong, China, and changed its name to "Toyo Tire (Zhucheng) Co., Ltd".

Supplemental Information 1

Main Business Alliances

(As of Mar. 31, 2015)
Signed date Partner point
(Country)

Agreement Details

Sep.29, 1999 Kinugawa Rubber Industrial
(Japan)
-Besides consolidating the development and sales functions into Toyo Tire, the agreement covers implementing various aspects regarding the production , purchasing and distribution areas for the automotive anti-vibration rubber products.
May 16, 2008 Bridgestone Corporation
(Japan)
-The two companies, which are confronting with changes in the business environment such as structural changes in demand, competition, and earnings in the global tire and rubber industry, decided to form a moderate business and capital alliance that is expected to bring additional value to the two companies while still enabling them to keep their own independence in terms of business management.

-The Business Alliance Itself: After signing the agreement, Toyo and Bridgestone choose areas of the business alliance and determine what actual alliance projects they should pursue together in each business area.

-Capital Alliance: Toyo issues 20 million new shares. This amounts to 8.72% of all outstanding stock. It then allocates all those shares to Bridgestone. Bridgestone allocate 3.9 million of its treasury shares, which amount to 0.48% of outstanding shares to Toyo.

 

Major Joint Venture Agreements

 (As of Mar. 31, 2015)
Signed date Partner point
(Country)
Joint company
(Country)
Investment ratio Overview
Dec. 24, 1986 Zhengxin Rubber Industry Co., Ltd. (Taiwan) Yangxin Industry Co., Ltd.
(Taiwan)
-Toyo Tire & Rubber: 50%
-Zhengxin Rubber Industry Co., Ltd. (China): 50%
Manufactures anti-vibration rubber for automobiles


>>>Business Report FY ended Mar. 31, 2008

>>>Business Report FY ended Mar. 31, 2009
>>>Business Report FY ended Mar. 31, 2010
>>>Business Report FY ended Mar. 31, 2011
>>>Business Report FY ended Mar. 31, 2012
>>>Business Report FY ended Dec. 31, 2012
>>>Business Report FY ended Dec. 31, 2013
>>>Business Report FY ended Dec. 31, 2014

Note: A figure in brackets ( ) indicates a loss