Closing the Rubber Mixing Business in Australia

Toyo Tire Corporation's Australian sales subsidiary Toyo Tyre Australia Pty Ltd will end its rubber mixing business as of December 13, 2021. 

Closure of Rubber Mixing Business 

Toyo Tyre Australia Pty Ltd will now liquidate its assets, for the business. The effect that ending the business will have on the consolidated results in the period ending December 2021 is currently being examined, and it will be announced as soon as any revision to the earnings forecast is determined to be necessary.

In order to achieve sustainable growth, the group is promoting a new medium-term business plan called the Mid-Term ’21 Plan starting in 2021 with the mobility field such as automobile tyres and automobile components at the center of their business, and will endeavor to enhance business functions and management foundations. The company will collaborate with Toyo Tyre Australia Pty Ltd, which provides services for the tyre market in Australia, to continuously provide high-level quality and services and will try their best in sales activities to further satisfy their customers.