Press Release

Hyogo, Japan – March 29, 2018 – TOYO TIRE & RUBBER CO., LTD. (HQ: Itami, Hyogo Prefecture, President & CEO: Takashi Shimizu) held the 102nd General Meeting of Shareholders today where a “Partial Amendment to the Articles of Incorporation (Change of Trade Name)” – which was the second resolution to be discussed at the meeting – was approved. Accordingly, we are pleased to announce that the company name will be changed to “Toyo Tire Corporation” as of January 1, 2019.

TOYO TIRE & RUBBER CO., LTD. was born through the merger of “Toyo Rubber Industrial” and “Hirano Rubber Manufacturing” in August 1945. Since its establishment, the business has conducted for more than 70 years, with the ratio of employees of our group, consolidated sales, and operating income in overseas accounting for the majority. We now aim to expand the scope of business globally and raise the brand status.

The automotive industry is currently in what can be considered a “once-a-century” state of flux. In order to achieve further sustainable growth, we are focusing on the mobility business, such as automotive tires and components, have been promoting its latest “Mid-term ’17” since 2017, and strive to reinforce the business function and business foundation.

We endeavor to bolster its corporate value as well as seeking our own social responsibility and significance by presenting a “resolution” for TOYO TIRE to be a genuinely global brand with renewed “pride” and reaffirming our “responsibility” towards the mobility business by taking the opportunity afforded by the company name change coming into effect next January.