OSAKA, JAPAN - August 10, 2007 - Toyo Tire & Rubber Co., Ltd. (President: Yoshio Kataoka) has announced its consolidated business results for the first quarter of fiscal 2007 (from April 1, 2007 to June 30, 2007). Due to the strong performance of the tire business on the overseas markets, net sales increased by 8,895 million yen to 82,777 million yen (up 12.0% from the first quarter of fiscal 2006), operating income increased by 766 million yen to 4,217 million yen (up 22.2%), ordinary income increased by 1,492 million yen to 4,240 million yen (up 54.3%), and net income decreased by 4,498 million yen to 3,632 million yen (down 55.3%).

Results by business segment are as follows:

1. Tires
Net sales within the tire segment increased by 8,608 million yen to 58,468 million yen (up 17.3% compared to the same period of fiscal 2006). Sales of original equipment tires fell below the levels of the same quarter of the previous year due to decreased production of car models equipped with Toyo's products. In the domestic market, despite slow domestic demand, vigorous efforts to boost sales resulted in sales equivalent to the levels of the same period of the previous year. Meanwhile, the volume of overseas sales, centering mainly on the North American market, substantially surpassed the levels of the same period of the previous level. And together with the continued trend for the weak yen, net sales exceeded the levels for the same period of a year earlier. Operating income increased by 890 million yen compared to the same period of the previous year to 4,075 million yen (up 27.9%).

2. DiverTech and others
In April of this year, the former Chemical & Industrial Products segment was combined with the Automotive Parts segment, and with the addition of other businesses became the DiverTech and others segment. This new segment registered 24,308 million yen (an increase of 286 million yen compared to the same period of the previous year, up 1.2%) in net sales. Sales of rigid polyurethane for thermal insulation applications and other materials including flexible polyurethane products, as well as seismic isolation rubber in the building materials segment fell below the levels of the same quarter of a year earlier. In the transport machine field, there was a substantial increase in incoming orders for air springs and anti-vibration rubber products for railroad vehicles, while sales of anti-vibration rubber products for automobiles also exceeded the levels of the same period last year thanks to increased productions by the overseas subsidiaries. However, sales of automobile seat cushions basically remained the same as the same period of the previous year. As a result, operating income decreased by 105 million yen compared to the same period of the previous year to 136 million yen (down 43.6%). As for the performance forecast for the interim period of fiscal 2007 (from April 1, 2007 to September 30, 2007), the Company, in anticipation of consolidated and non-consolidated net sales, operating income, ordinary income and net income to exceed the previously released forecasts as a reflection of the effects of the weak yen and cost improvement measures, has revised its previous forecast (released on May 15, 2007) as follows:

	Net sales	Operating income	Ordinary income	Net income
Consolidated	172,000	5,800	4,900	3,900
Non-consolidated	121,000	2,600	3,600	1,700

For details of the revisions to the performance forecast, please refer to the Announcement of Revised Performance Forecast, which will be released today.

The Company also plans to review its full-year performance forecast at the time of release of interim financial results for fiscal 2007.

FY2007 (From April 1, 2007 to June 30, 2007)

FY2006 (From April 1, 2006 to June 30, 2006)

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

♦Business Results

Net Sales	82,777	73,882	320,427
Operating Income	4,217	3,451	9,369
Ordinary Income	4,240	2,748	5,789
Net Income	3,632	8,130	6,015
Net Income per share (Yen)	17.38	38.88	28.77

♦Financial Position

Total Assets	336,113	319,747	335,263
Net Assets	100,583	96,629	97,446
Capital Ratio (%)	29.3	29.5	28.4
Net Assets per Share (Yen)	470.74	451.71	455.83

♦Results By Business Segment

Tires   Net Sales   Operating Income	58,468 4,075	49,860 3,185	218,399 8,169
DiverTech and Others   Net Sales   Operating Income	24,308 136	24,022 241	102,027 1,253
Chemical & Industrial Products   Net Sales   Operating Income	- -	10,122 207	41,146 766
Automotive Parts   Net Sales   Operating Income	- -	13,806 -33	60,468 219
Other Businesses   Net Sales   Operating Income	- -	93 41	412 217

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. 3. Results of FY2006 for DiverTech and others have been calculated in accordance with the current business classifications.

♦Results By Geographic Segment

Japan   Net Sales   Operating Income	42,369 2,263	44,010 3,124	184,625 7924
North America   Net Sales	27,558	22,852	98,112
Operating Income	1,370	7	336
Other   Net Sales   Operating Income	12,849 475	7,020 337	37,689 -231

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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