Toyo Tire’s FY 2024 net profit up 3.5% year over year to $475 million
The company forecasts a significant drop in earnings in financial year 2025 despite moderate growth in sales
Toyo Tire’s net profit increased 3.5 % year over year to ¥74.8 billion ($475 million) in the financial year ended Dec. 31, 2024, driven by 2.3% year-over-year growth in net sales to ¥565.4 billion. Higher sales also helped the Japanese tiremaker to record 22.2% year-over-year increase in operating income to ¥94 billion.
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