Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

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

TOYO TIRE CORPORATION

(5105)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Japan's Toyo Tire to open factory in Serbia

07/30/2019 | 09:54am EST
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)


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
BASE CO., LTD. -2.19% 6240 End-of-day quote.130.83%
BASE,INC. -4.24% 9030 End-of-day quote.414.53%
TOYO TIRE CORPORATION 3.68% 1720 End-of-day quote.9.21%
US DOLLAR / JAPANESE YEN (USD/JPY) 0.24% 104.561 Delayed Quote.-4.04%
All news about TOYO TIRE CORPORATION
08/07TOYO TIRE : Announcement Regarding Revisions to Results Forecasts
PU
08/06TOYO TIRE : Summary Report of Consolidated Business Performance for the Second Q..
PU
08/06TOYO TIRE : Consolidated Business Performance for the Second Quarter of the Fisc..
PU
07/30TOYO TIRE : CSR Report 2020
PU
06/29TOYO TIRE CORPORATION : Ex-dividend day for interim dividend
FA
2019TOYO TIRE CORP : Ex-dividend day for final dividend
FA
2019TOYO TIRE : Establishment of First European R&D Center
BU
2019Japan's Toyo Tire to open factory in Serbia
RE
2019Japan's Toyo Tire to open factory in Serbia
RE
2019TOYO TIRE : Establishment of a New Plant in the Republic of Serbia
BU
More news
Financials
Sales 2020 344 B 3 291 M 3 291 M
Net income 2020 19 842 M 190 M 190 M
Net Debt 2020 89 168 M 853 M 853 M
P/E ratio 2020 13,3x
Yield 2020 2,62%
Capitalization 265 B 2 532 M 2 533 M
EV / Sales 2020 1,03x
EV / Sales 2021 0,94x
Nbr of Employees 11 840
Free-Float 71,3%
Chart TOYO TIRE CORPORATION
Duration : Period :
Toyo Tire Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TOYO TIRE CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 2 050,00 JPY
Last Close Price 1 720,00 JPY
Spread / Highest target 48,3%
Spread / Average Target 19,2%
Spread / Lowest Target -6,98%
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
Sector and Competitors
1st jan.Capitalization (M$)
TOYO TIRE CORPORATION9.21%2 447
BRIDGESTONE CORPORATION-6.83%24 942
MICHELIN SCA-2.38%22 792
NOKIAN RENKAAT OYJ17.13%5 002
KUMHO PETROCHEMICAL CO., LTD.83.23%3 335
GOODYEAR TIRE & RUBBER COMPANY (THE)-31.08%2 499