Summary Report of Consolidated Business Results for FY2005
(May 16, 2006)
OSAKA, JAPAN - May 16, 2006 - Toyo Tire & Rubber Co., Ltd. (President: Yoshio Kataoka) has announced its consolidated business results for FY 2005 (from April 1, 2005 to March 31, 2006). Net sales for the fiscal year stood at a record high of 300,249 million yen (up 11.2% year-on-year), operating income was 13,094 million yen (up 8.5% year-on-year), ordinary income was 10,453 million yen (down 17.1% year-on-year), and net income was 5,378 million yen (down 28.1% year-on-year)
Results for each business segment are presented in the following sections.
> Tires
Sales of original equipment tires were on a par with the previous year's level. Sales of domestic replacement tires grew, due to an increase in sales of high-value-added products resulting from the enhanced lineup of the TRANPATH series and the rollout of Nitto brand products in the domestic market, and higher sales of snow tires. There was a significant increase in overseas sales over the previous year due to strong performance in North America, Europe, and other key markets, on the back of the growing worldwide demand. Net sales in this segment were 200,704 million yen (up 15.4% year-on-year), and operating income was 12,310 million yen (up 10.9% year-on-year).
> Chemical & Industrial Products
Sales of industrial polyurethane products increased from a year earlier due to brisk sales of rigid polyurethane products such as thermal insulation boards and polyurethane concentrate solution. Sales of industrial rubber products also grew due to an increase in orders for anti-vibration rubber products and air springs for railroad vehicles. Net sales in this segment were 41,238 million yen (up 3.4% year-on-year), and operating income was 729 million yen (up 163.2% year-on-year).
> Automotive Parts
Sales of anti-vibration rubber products increased over the previous year, due to a rise in production and sales at home and abroad. Sales of seat cushions and air springs also grew thanks to the steadily increasing demand. Net sales in this segment increased (by 4.0% year-on-year) to 56,667 million yen, but soaring raw material prices and the delay in upgrading of production bases at home and abroad resulted in an operating loss of 493 million yen (down 639 million yen year-on-year).
For FY2006 (from April 1, 2006 to March 31, 2007), the Company has forecasted net sales of 334,000 million yen (up 11.2% year-on-year), operating income of 11,600 million yen (down 11.4% year-on-year), ordinary income of 10,300 million yen (down 1.5% year-on-year), and net income of 6,500 million yen (up 20.9% year-on-year).
Note: The above earnings estimates are forward-looking statements, which are based on our current assumptions in light of the information currently available to us and involve potential risks, uncertainties and other factors. Such risk, uncertainties and other factors may cause our actual results to be materially different from these estimates.
| FY2005 (From April 1, 2005 to March 31, 2006) |
FY2004 (From April 1, 2004 to March 31, 2005) |
|
| ♦Business Results | ||
| Net Sales | 300,249 | 269,974 |
| Operating Income | 13,094 | 12,067 |
| Ordinary Income | 10,453 | 12,603 |
| Net Income | 5,378 | 7,480 |
| Net Income(yen) | 25.58 | 35.61 |
| ♦Financial Position | ||
| Net Assets | 323,507 | 284,464 |
| Shareholders' Equity | 91,814 | 74,723 |
| Shareholders' Equity Ratio(%) |
28.4 | 26.3 |
| Shareholders' Equity per Share(yen) |
438.98 | 357.17 |
| ♦Results By Business Segment | ||
| Tires Net Sales Operating Income |
200,704 12,310 |
173,945 11,097 |
| Chemical & Industrial Products Net Sales Operating Income |
41,238 729 |
39,897 277 |
| Automotive Parts Net Sales Operating Income |
56,667 -493 |
54,500 146 |
| Other Net Sales Operating Income |
1,639 454 |
1,631 478 |
Notes:
1. Segmentation in the above is based on the Company's internal rule and is for
management purposes.
2. Net sales do not include inter-segment transactions and transfers.
| ♦Results By Geographic Segment | ||
| Japan Net Sales Operating Income |
193,570 13,878 |
187,828 10,539 |
| North America Net Sales Operating Income |
81,600 52 |
66,339 1,138 |
| Other Net Sales Operating Income |
25,079 1,097 |
15,806 536 |
Notes:
1. Geographic segmentation of countries and regions is based on geographical proximity.
("North America" includes the U.S.A. and Canada, and "Other" includes Europe, Oceania and other regions.)
2. Net sales do not include inter-segment transactions and transfers.