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Toyo Tire ( (JP:5105) ) has provided an update.
Toyo Tire Corporation announced the transfer of 86% equity interests in its Chinese subsidiary, TOYO TIRE ZHANGJIAGANG CO., LTD., to Liaoning Hengdasheng Investment Co., Ltd. This decision stems from challenges in the Chinese market, where the subsidiary struggled with brand and product recognition. By transferring control to its marketing partner, Toyo Tire aims to provide the necessary operational support while maintaining supply from Japan and Malaysia for Asian markets. This strategic move is part of Toyo Tire’s broader strategy to optimize its operations and focus on high-growth regions like North America.
More about Toyo Tire
Toyo Tire Corporation, headquartered in Itami City, Hyogo, specializes in the manufacturing and sale of tires for passenger vehicles and light trucks. The company focuses on flexible and agile operations in high-growth markets, particularly in North America, by optimally allocating its resources and establishing a global supply system.
YTD Price Performance: 6.14%
Average Trading Volume: 858
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $2.5B
See more insights into 5105 stock on TipRanks’ Stock Analysis page.
