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

TOYO TIRE CORPORATION

(5105)
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TOYO TIRE: Establishment of First European R&D Center

08/08/2019 | 06:33am EST

Toyo Tire Corporation (Headquarters: Itami City, Hyogo Prefecture; President: Takashi Shimizu)(TOKYO:5105) announces that it will establish a new R&D Center, the first European technology development site, in Germany (Willich, North Rhine-Westphalia).
The center is planned to begin operation this fall with an objective of building a strong technical foundation in Europe by strengthening capability of product development, corresponding to the “movement” of next-generation mobility. With the establishment of the center, Toyo will have technology development sites in the United States, Japan and Europe respectively. Toyo will enhance its capability of development among the current R&D centers and the new European center by combining and sharing knowledge and information collected.

In order to enhance its state-of-the-art technology in Europe, Toyo has announced on July 30th this year, to build a tire plant in the Republic of Serbia, starting tire production from January 2022. In line to this, Toyo will establish the technology center to expand its capability of collecting market information in the field of tire related materials, and the latest technology of tire products driven by the movement of next-generation mobility.
Europe being a home to large numbers of top-ranking automobile manufacturers and automobile-related companies, to have a base in Europe is beneficial to Toyo especially in terms of the quality and fresh information. The center will combine material research with technology development and fulfill the function of ensuring the development and production of high-performance, high-value-added tires in the new plant developed on site.

Going forward, in conjunction with the beginning of full-fledged operations at the new tire plant in the Republic of Serbia, Toyo will continuously enhance its foundation for various types of technology in the field of tire compounding, production method, assessment and simulation technology which leads to strengthening Toyo’s strategic products. Such aim has already led Toyo to start its study of future expansion of the R&D function in Europe beyond this site.

Site summary

Facility name

Europe R&D Center

Location

Willich, North Rhine-Westphalia, Germany

No. of employees

Approximately 10 (as of 2022, included 3 assigned from Japan)

Main functions

Survey and Evaluation of Raw Materials, Tire Assessment and Collect Information, etc.

Building area

Approx. 2,500 m2

Main facilities

Materials Testing Facilities, Chemical Analysis Facilities

 


© Business Wire 2019
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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%
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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
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