Toyo Tire Corporation Announces Consolidated Earnings Results for the First Quarter of Fiscal 2020; Withdraws Earnings Guidance for the Second Quarter and Full Year of the Fiscal Year Ending December 31, 2020
The company provided consolidated business outlook for the second quarter and full year of the fiscal year ending December 31, 2020. After the February 14 announcement of its consolidated business results forecasts for the first half and full-year periods of the fiscal year ending December 31, 2020, the impact of the novel coronavirus infection has worsened its business significantly, and an end to the pandemic is not in sight at this point. Given the difficulty of making informed forecasts of its business results, the company has decided to withdraw its earlier results forecasts announced on February 14, 2020.