Toyo Tire Corporation announced consolidated earnings results for the first quarter of fiscal 2020. For the quarter, the company reported net sales of JPY 82,094 million against JPY 90,143 million a year ago. Operating income was JPY 6,936 million against JPY 10,174 million a year ago. Profit attributable to owners of Parent was JPY 2,141 million against JPY 5,635 million a year ago.

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.