Press Release
Feb. 04, 2011
TOYO TIRES to Increase Passenger Car and Light Truck Tire Price in Japan
TOYO TIRE & RUBBER CO., LTD. (President and CEO: Kenji Nakakura,” The Company”) today announced that effective April 1, 2011 it will increase the price of tires for Passenger Car and Light Truck *1 sold in the Japanese Domestic replacement market an average of 7.0 (seven) %. This applies to both summer and winter tires of TOYO TIRES.
The price of natural rubber, main raw material of the tire, has continued to increasing as a record high level. Petrochemical raw materials such as synthetic rubber, carbon black also has been keeping at high price level.
The Company has made effort to minimize raw material prices through product mix and cost rationalization. However, internal measures by The Company can not cover the escalating raw material costs.
Regarding price increase of tires for Commercial, we already announced it by press release. Please refer to our press release dated 13 December, 2010 titled “TOYO TIRES to Increase Commercial Tire Price in Japan”.
*1 Except some size of light truck tires which will be applied price increased on March 1, 2011
Toyo Tire Corporation
Corporate Communications Dept.
Hyogo Head office Telephone: +81-72-789-9100 Facsimile: +81-72-773-3272
