Announcement of Revised Performance Forecast
(Aug 10, 2007)
OSAKA, JAPAN - August 10, 2007 - Toyo Tire & Rubber Co., Ltd. has made the following revisions to its consolidated and non-consolidated performance forecasts for the interim period (April 1, 2007 to September 30, 2007) of the fiscal year ending March 31, 2008, which were released on May 15, 2007.
1. Revisions to the consolidated performance forecast for the interim period (April 1, 2007 to September 30, 2007) of the fiscal year ending March 31, 2008
| Net sales | Operating income | Ordinary income | Net income | |
| Previously announced forecast (A) (Released on May 15, 2007) |
164,000 | 3,000 | 1,900 | 400 |
| Revised forecast (B) | 172,000 | 5,800 | 4,900 | 3,900 |
| Difference (B-A) | 8,000 | 2,800 | 3,000 | 3,500 |
| Percentage change | 4.9% | 93.3% | 157.9% | 875.0% |
| Results from the interim period of the fiscal year ended March 31, 2007 |
145,761 | 5,931 | 4,404 | 8,596 |
2. Revisions to the non-consolidated performance forecast for the interim period (April 1, 2007 to September 30, 2007) of the fiscal year ending March 31, 2008
| Net sales | Operating income | Ordinary income | Net income | |
| Previously announced forecast (A) (Released on May 15, 2007) |
119,000 | -300 | 500 | 100 |
| Revised forecast (B) | 121,000 | 2,600 | 3,600 | 1,700 |
| Difference (B-A) | 2,000 | 2,900 | 3,100 | 1,600 |
| Percentage change | 1.7% | ― | 620.0% | ― |
| Results from the interim period of the fiscal year ended March 31, 2007 |
119,582 | 4,962 | 6,058 | 5,473 |
3. Reasons for the revisions
A greater-than-expected depreciation of the yen and the benefits of our cost reduction efforts have caused net sales, operating income, ordinary income and net income to exceed their May 15, 2007 forecasts on both a consolidated and non-consolidated basis.
4. Remarks
The Company also plans to review its full-year performance forecast at the time of release of interim financial results for fiscal 2007.