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Jun. 04, 2004

TOYO TIRE Selects Georgia for Its New North American Plant

OSAKA, JAPAN – June 4, 2004 – Toyo Tire & Rubber Co., Ltd. (President: Yoshio Kataoka) announced today that its new North American tire manufacturing plant will be located in Bartow County, Georgia, U.S.A..

In response to robust overseas demand, primarily in North America, Toyo Tire & Rubber had earlier announced (see Company’s press release No. 758 dated February 17, 2004) its decision to construct a manufacturing plant within North America. After extensive consideration of candidate site locations primarily in the southeastern United States, the Company determined that the site in Bartow County, outside of Atlanta, Georgia, to be the most suitable.

The new facility will incorporate the Company’s proprietary tire manufacturing system, involving automation technology, making it possible for the Company to maintain a high standard of quality while realizing the flexibility to produce small production runs of a multiple lines of tires. Also to be constructed at the site is a large warehouse to be serviced by both truck and rail. This will enable the Company to use the facility as a central warehouse for servicing the its markets in the southeastern United States.

As outlined below, a new subsidiary company will be established in the United States to own and operate the manufacturing facility. The Company plans to commence production towards the end of the current fiscal year which ends on March 31, 2006.

In the United States, TOYO has established an excellent reputation in the replacement tire market. In 2003, the TOYO brand was ranked No. 1 overall among major tire brands for the third consecutive year, and No. 1 for product quality for the seventh consecutive year in a survey conducted by TIRE REVIEW, a leading North American tire trading magazine. The Company believes that having a local production plant will further solidify its reputation for reliability in North America.

Outline of the New Company

Name: Toyo Tire North America, Inc.
Location: Bartow County, Georgia
Ownership: Wholly-owned subsidiary of Toyo Tire International, Inc., which is a wholly-owned U.S. subsidiary of Toyo Tire & Rubber Co., Ltd.)
President: Shozo Kibata
  Corporate Officer of Toyo Tire & Rubber Co. Ltd.
and President of Toyo Tire (USA) corp.
Initial Capitalization: US$50,000,000
Accounting period: Fiscal year ending December 31

Outline of the Facility

Location: Bartow County, Georgia, U.S.A.
Total site area: 150 acres
Total floor area: 96,000 m2 (including 40,000 m2 warehouse site)
Initial Investment: US$150,000,000
Production capacity: 2,000,000 tires/year (passenger car and light truck tires)
Number of employees: 350

TOYO TIRE & RUBBER CO., LTD. CORPORATE COMMUNICATIONS PLANNING
Osaka Head office Telephone: +81-72-789-9100 Facsimile: +81-72-773-3272
Tokyo office Telephone: +81-3-5822-6621 Facsimile: +81-3-3865-2240

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