OSAKA, JAPAN - May 15, 2007 - Toyo Tire & Rubber Co., Ltd. (President and CEO: Yoshio Kataoka) has announced its consolidated business results for FY2006 (from April 1, 2006 to March 31, 2007). Net sales reached a record high for the second consecutive year at 320,427 million yen (up 6.7% year-on-year), operating income was 9,369 million yen (down 28.4% year-on-year), and ordinary income was 5,789 million yen (down 44.6% year-on-year), while net income was 6,015 million yen (up 11.8% year-on-year) partly due to an extraordinary income that was recorded, which resulted from the transfer of its shopping center leasing business in Itami.

Results by segment are as follows:

1. Tires
Tire sales reached 218,399 million yen (up 8.8% year-on-year). In terms of original equipment tires and domestic replacement tires, despite the effects of decreased production of automobiles outfitted with the Company's tires and decreased demand for winter tires resulting from the mild winter, sales were on a par with the previous year's level thanks to such efforts as the expansion in sales of high-value-added products. Significant increases over the previous year were recorded in sales in overseas market, where the yen was weaker than had initially been expected. However, due to the effects of soaring raw materials prices and heated competition in the major markets, operating income stood at 8,169 million yen (down 33.6% year-on-year).

2. Chemical & Industrial Products
Sales of chemical & industrial products stood at 41,146 million yen (down 0.2% year-on-year). Despite the effects of the transfer of the rubber lining business and the decrease in large-scale construction projects, both industrial polyurethane products and industrial rubber products enjoyed, on the whole, brisk sales. As a result, sales were on par with the previous year's level. Operating income for this segment was 766 million yen (up 5.1% year-on-year).

3. Automotive Parts
Sales of automotive parts reached 60,468 million yen (up 6.7% year-on-year). Net sales, on the whole, surpassed the previous year's level due to the expansion of production and sales of anti-vibration rubber products, both domestically and abroad, as well as a steady increase in demand for seat cushions. Operating income for this segment was 219 million yen (up 712 million yen year-on-year, an operating loss of 493 million yen was recorded for the same period of the previous year).

For FY2007 (from April 1, 2007 to March 31, 2008), the Company has forecasted net sales of 349,000 million yen (up 8.9% year-on-year), operating income of 11,500 million yen (up22.7% year-on-year), ordinary income of 9,000 million yen (up 55.5% year-on-year), and net income of 7,100 million yen (up 18.0% 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.

FY2006 (From April 1, 2006 to March 31, 2007)

FY2005 (From April 1, 2005 to March 31, 2006)

♦Business Results

Net Sales	320,427	300,249
Operating Income	9,369	13,094
Ordinary Income	5,789	10,453
Net Income	6,015	5,378
Net Income per share (Yen)	28.77	25.58

♦Financial Position

Total Assets	335,263	323,507
Net Assets	97,446	91,814
Capital Ratio (%)	28.4	28.4
Net Assets per Share (Yen)	455.83	438.98

♦Results By Business Segment

Tires   Net Sales   Operating Income	218,399 8,169	200,704 12,310
Chemical & Industrial Products   Net Sales   Operating Income	41,146 766	41,238 729
Automotive Parts   Net Sales   Operating Income	60,468 219	56,667 -493
Other   Net Sales   Operating Income	412 217	1,639 454

Note:

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	184,625 7,924	193,570 13,878
North America   Net Sales   Operating Income	98,112 336	81,600 52
Other   Net Sales   Operating Income	37,689 -231	25,079 1,097

Note:

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.

© TOYO TIRE & RUBBER CO., LTD.

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