Toyo Tire & Rubber Co., Ltd. reported consolidated earnings results for the six months ended June 30, 2018. For the six months, the company reported net sales of ¥185,738 million compared to ¥192,041 million, operating income of ¥20,805 million compared to ¥21,834 million, ordinary income of ¥19,009 million compared to ¥18,695 million, profit before income taxes of ¥8,247 million compared to ¥16,714 million, and profit attributable to owners of parent of ¥7,068 million or ¥55.66 per share compared to ¥11,076 million a year ago. For the cumulative second quarter of the fiscal year, profit attributable to parent company shareholders fell short of the forecast announced May 11, 2018, because of the extraordinary loss. Net cash provided by operating activities was ¥12,382 million compared to ¥4,006 million, additions to property, plant and equipment was ¥11,345 million compared to ¥11,261 million and additions to intangible assets was ¥433 million compared to ¥167 million a year ago.

The company revised earnings guidance for the year ending December 31, 2018. For the year, the company now expects net sales of ¥395,000 million compared to previously forecast of ¥400,000 million, operating income of ¥45,000 million compared to previously forecast of ¥47,000 million, ordinary income of ¥42,000 million compared to previously forecast of ¥44,300 million and profit attributable to owners of parent of ¥22,000 million compared to previously forecast of ¥29,000 million.