OSAKA, JAPAN - November 13, 2007 -- Toyo Tire & Rubber Co., Ltd. (President: Yoshio Kataoka) has announced its consolidated business results for the interim period of fiscal 2007 (April 1, 2007 to September 30, 2007). Compared with the same period of the previous year, net sales increased by 24,017 million yen to 169,778 million yen (up 16.5 %), operating income increased by 1,155 million yen to 7,086 million yen (up 19.5%), ordinary income increased by 1,790 million yen to 6,194 million yen (up 40.6%). The Company has disclosed a compliance reporting issue discovered at the industrial products division involving urethane-based heat-resistant building construction materials and initially estimates the cost of replacing the subject materials at approximately 4,035 million yen and appropriates it for Extraordinary Charge. So that net income for the current interim period decreased by 7,959 million yen to 637 million yen (down 92.6%).

Results by business segment are as follows:

1. Tires
Compared to the same period of fiscal 2006, net sales within the tire segment increased by 23,056 million yen to 120,048 million yen (up 23.8%) and operating income increased by 1,762 million yen to 6,988 million yen (up 33.7%). Sales of original equipment tires and replacement tires for the domestic market, despite the effects of lower production volumes of car models equipped with Toyo's products, managed to maintain the same levels as those achieved in the first half of fiscal 2006, thanks to increased sales of high-value-added products.
Meanwhile, the volume of overseas sales, centering mainly on the North American and European markets, surpassed the levels achieved in the same period of the previous fiscal year. Together with the continued trend of a weak yen, net sales exceeded the levels recorded for the same period a year earlier.

2. DiverTech and other business segments
Compared to the same period of fiscal 2006, net sales within the DiverTech and other business segments increased by 961 million yen to 49,729 million yen (up 2.0%). Due to delays in construction starts resulting from the revision to the Building Standards Act, sales in the industrial/building materials and thermal insulation/waterproofing materials segments declined. In the transportation machinery field, on the other hand, solid increases in incoming orders for anti-vibration rubber and air springs for railroad vehicles helped increase sales to levels surpassing those achieved in the same period of fiscal 2006. Sales in the automobile parts segment also increased as a result of steady increases in incoming orders both domestically and overseas for our main product, anti-vibration rubber. However, as a result of soaring raw materials prices and delays in the streamlining of our plants, operating income fell by 618 million yen to 90 million yen, down 87.3% compared to the same period of the previous fiscal 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.

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

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

♦Business Results

Net Sales	169,778	145,761
Operating Income	7,086	5,931
Ordinary Income	6,194	4,404
Net Income	637	8,596
Net Income per share (Yen)	3.05	41.12

♦Financial Position

Total Assets	335,676	337,441
Net Assets	95,172	97,158
Capital Ratio (%)	27.6	28.1
Net Assets per Share (Yen)	443.75	454.25

♦Results By Business Segment

Tires Net Sales Operating Income	120,089 6,988	97,088 5,226
DiverTech and Others Net Sales Operating Income	49,809 90	48,894 708

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	132,964 3,936	129,394 5,369
North America Net Sales Operating Income	56,944 2,189	45,654 540
Other Net Sales Operating Income	25,966 966	15,742 -12

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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