Toyo Tire : Consolidated Business Performance for the FY2022

Consolidated Business

Performance

for the FY2022

February 14, 2023

１．Financial Results for FY2022

２．Financial Forecast for FY2023

Highlights of Financial Results

• Full-yearoperating income outperformed the forecast to reach

44.0 billion yen (announced in November 2022) as raw materials costs were

below expectations.

• Full-yearordinary income was below the forecast at 51.0 billion yen

due to the recording of non-operating foreign exchange loss in the 4th quarter following the rapid appreciation of the yen.

• Profit attributable to owners of parent was below the forecast

at 48.0 billion yen, but the dividend per share remains unchanged at 80 yen for annual payments.

• Net sales and operating income for FY2023 are forecasted to increase,

with net sales of 540.0 billion yen and operating income of 50.0 billion yen.

2/19

Financial Results for FY2022（Jan-Dec）

(Unit: Millions of Yen)	2022	2021	Change		2022			2022	Change
		Change (%)	Change	Oct-Dec
		Results	Results	Forecast	(YoY)
						Results
	Net Sales	497,213	393,647	＋103,565	＋26.3％	500,000	(2,786)		146,783	+35,943
	Operating	44,046	53,080	(9,034)	(17.0％)	40,000	＋4,046	12,654	(762)
	Income

Margin	8.9％	13.5％	－	－	8.0％	－
Ordinary	51,035	55,909	(4,874)	(8.7％)	53,000	(1,964)
Income
Profit
Attributable	47,956	41,350	＋6,606	＋16.0％	50,000	(2,043)
to Owners of

Parent (※)

8.6％ ー

5,747 (8,380)

3,188 (9,295)

※Profit Attributable to Owners of Parent: Profit attributable to parent company shareholders

Annual
Dividends	80	Yen	76	Yen	＋4 yen
per Share
USD	131	Yen	110	Yen	+21	Yen
EUR	137	Yen	130	Yen	+7	Yen

Forex Rate Sensitivity 2022

USD	0.7 Billion Yen/Year
EUR	0.1 Billion Yen/Year

Impact of 1 yen fluctuation on operating income

3/19

Analysis of Operating Income for the 4th Quarter of FY2022（Oct-Dec）（vs 2021）

(Unit: Billions of Yen)

Tires	Others
(1.0)	+0.3

	Sales	Production	SGA	Raw	Forex	Freight	Plant	Automotive
	Start-up	Other	Total
	Factors	Cost	Expenses	Materials	Rate	Cost	Parts
	Cost
Jan-Mar	+15.7	(1.1)	(0.7)	(7.0)	+2.9	(5.9)	(0.6)	(0.0)	+0.0	+3.4
Apr-Jun	+10.9	(1.8)	(0.6)	(7.2)	+2.5	(7.4)	(0.5)	(0.4)	(0.0)	(4.4)
Jul-Sep	+6.3	(1.3)	(0.5)	(7.8)	+3.5	(5.7)	(1.2)	(0.4)	+0.0	(7.3)

4/19