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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Toyo Tire Corporation    5105   JP3610600003

TOYO TIRE CORPORATION

(5105)
  Report
End-of-day quote. End-of-day quote Tokyo Stock Exchange - 07/03
1421 JPY   +0.64%
06/29TOYO TIRE CORPORATION : Ex-dividend day for interim dividend
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2019TOYO TIRE CORP : Ex-dividend day for final dividend
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2019TOYO TIRE : pumps up production in Malaysia under global strategy
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Japan's Toyo Tire to open factory in Serbia

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07/30/2019 | 09:54am EDT
Serbia's President Vucic addresses parliament over Kosovo

BELGRADE (Reuters) - Japan's Toyo Tire plans to open a production facility in Serbia in a 390 million euro ($434.54 million) investment deal that would boost Balkan country's revenues, Serbian president Aleksandar Vucic said on Tuesday.

To boost revenues and cut debt Serbia has sought foreign investments, which in 2018 amounted to 3.2 billion euros.

Toyo Tire which has 13,000 employees worldwide, will produce automotive tyres in the town of Indjija, just north of the capital Belgrade. It is expected to hire a workforce of more than 500 people, Vucic told a news conference.

"After three years of negotiations ... I received an official letter from Takashi Shimizo, the president of the company, (saying) that Toyo Corporation picked Serbia as an investment destination," Vucic said.

In a statement, Toyo Tire said the Indjija plant would supply European and Russian markets, which are currently serviced by plants in Japan and Malaysia.

"As of 2022, the new manufacturing base in Serbia will take on a key role in this regard," it said.

Construction of the factory, which will cover 60 hectares, will begin in May 2020. Manufacturing is expected to start in 2022, with a capacity of five million tires annually by summer 2023, Toyo Tire said.

In the first quarter of 2019, Toyo Tire reported net profit of 5.64 billion yen ($51.95 million) and last month it announced it ramped up capacity at its United States-based subsidiary.

(Reporting by Aleksandar Vasovic; Editing by Louise Heavens and Kirsten Donovan)

Stocks mentioned in the article
ChangeLast1st jan.
BASE CO., LTD. -1.25% 4355 End-of-day quote.61.10%
BASE, INC. 11.16% 5430 End-of-day quote.209.40%
TOYO TIRE CORPORATION 0.64% 1421 End-of-day quote.-9.78%
US DOLLAR / JAPANESE YEN (USD/JPY) 0.10% 107.49 Delayed Quote.-1.10%
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Latest news on TOYO TIRE CORPORATION
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Financials
Sales 2020 332 B 3 085 M 3 085 M
Net income 2020 18 170 M 169 M 169 M
Net Debt 2020 90 517 M 842 M 842 M
P/E ratio 2020 12,0x
Yield 2020 3,17%
Capitalization 219 B 2 034 M 2 035 M
EV / Sales 2019
EV / Sales 2020 0,93x
Nbr of Employees 11 840
Free-Float 71,3%
Chart TOYO TIRE CORPORATION
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Technical analysis trends TOYO TIRE CORPORATION
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 1 650,00 JPY
Last Close Price 1 421,00 JPY
Spread / Highest target 33,7%
Spread / Average Target 16,1%
Spread / Lowest Target -1,48%
EPS Revisions
Managers
NameTitle
Takashi Shimizu President & Representative Director
Yasuhiro Yamada Chairman
Ken Morita Independent Outside Director
Atsushi Takeda Independent Outside Director
Masayuki Kanai Director & Managing Executive Officer
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