Press Release

Osaka, Japan—September 9, 2010— Toyo Tires Zhangjiagang Co., Ltd. (Chairman: Mitsuru Hitotsuyanagi), a passenger car tire manufacturing subsidiary of TOYO TIRE & RUBBER Co., Ltd. (President and CEO: Kenji Nakakura) in China, held a groundbreaking ceremony today on the future site of its new factory in Zhangjiagang City, Jiangsu Province.

The ceremony was attended by a wide range of dignitaries which included Xu Mei-jian, Mayor of Zhangjiagang City; and Isao Okai, the Japanese Consulate in Shanghai. Many representatives from the municipal government, local community, construction team, and tire retail outlets throughout China were also present. The event attracted approximately 300 people, who offered their best wishes for the future success of Toyo Tires Zhangjiagang.

President Nakakura gave a speech in which he explained that “this is our first wholly-owned Asian tire production facility outside of Japan, and it will be one of the most important within the TOYO TIRES Group. Zhangjiagang City is enjoying explosive economic growth and many foreign companies—including those from Japan—are setting up operations in the area.  We at Toyo Tire & Rubber are grateful for the opportunity to make a contribution to the local community by establishing this state-of-the-art car tire factory which will lead to the creation of stable jobs. We look forward to evolving and prospering together. ”

Toyo Tires Zhangjiagang is Toyo Tire’s second wholly-owned tire production facility to be established outside of Japan after Toyo Tire North America Manufacturing Inc. in the United States.  The company hopes to commence production by the end of 2011.

Corporate overview: Toyo Tires Zhangjiagang Co., Ltd.