Toyo Tire Corporation TSE:5105
Toyo Tire : Summary Report of Consolidated Business Performance for the First Quarter of Fiscal Year 2026 PDF （124KB）
Source: MarketScreener
Summary Report of Consolidated Business Performance for the First Quarter of Fiscal Year 2026 (January 1, 2026 - December 31, 2026)
HYOGO, JAPAN - May 15, 2026 - Toyo Tire Corporation ("the Company"; President & CEO: Takashi Shimizu) announces its consolidated business performance for the first quarter of fiscal year 2026 (January 1, 2026 through December 31, 2026) as follows:
Quantitative information concerning the quarterly financial results
Business Results
Net Sales: 130,951 million yen (a decrease of 4,558 million yen, or
3.4% from the same period in FY2025)
Operating Income: 20,610 million yen (a decrease of 1,809 million yen, or
8.1% from the same period in FY2025)
Ordinary Income: 21,352 million yen (an increase of 3,096 million yen, or
17.0% from the same period in FY2025)
Profit Attributable
to Owners of Parent:
15,476 million yen (an increase of 1,970 million yen, or 14.6% from the same period in FY2025)
Results by Business Unit
The Tire Business Unit posted net sales of 119,329 million yen (a decrease of 4,434 million yen, or 3.6% from the same period in FY2025) and an operating income of 20,042 million yen (a decrease of 1,859 million yen, or 8.5% from the same period in FY2025).
The Automotive Parts Business Unit posted net sales of 11,622 million yen (a decrease of 124 million yen, or 1.1% from the same period in FY2025) and an operating income of 567 million yen (an increase of 57 million yen, or 11.3% from the same period in FY2025).
Explanation of financial situation
Total assets at the end of the first quarter of FY2026 of the consolidated accounting period were 735,028 million yen, a decrease of 18,219 million yen compared to the end of the previous consolidated accounting period.
Liabilities were 202,257 million yen, a decrease of 28,330 million yen compared to the end of the previous consolidated accounting period.
Interest-bearing liabilities were 83,697 million yen, a decrease of 8,652 million yen compared to the end of the previous consolidated accounting period.
Net assets as of the end of the first quarter of FY2026 of the consolidated accounting period were 532,770 million yen, an increase of 10,111 million yen compared to the end of the previous consolidated accounting period.
As a result, the capital ratio increased by 3.1 points compared to the end of the previous consolidated accounting period to 72.5 %.
Consolidated Balance Sheets
Assets
(Millions of yen) As of December 31, 2025 As of March 31, 2026
Current assets | ||
Cash and deposits | 117,256 | 104,943 |
Notes and accounts receivable - trade | 136,504 | 119,601 |
Merchandise and finished goods | 92,036 | 104,890 |
Work in process | 4,348 | 4,696 |
Raw materials and supplies | 30,327 | 28,356 |
Other | 29,469 | 25,789 |
Allowance for doubtful accounts | (1,089) | (1,169) |
Total current assets | 408,854 | 387,108 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 84,637 | 85,324 |
Machinery, equipment and vehicles, net | 122,819 | 123,092 |
Other, net | 73,224 | 75,205 |
Total property, plant and equipment | 280,681 | 283,623 |
Intangible assets | 23,645 | 23,817 |
Investments and other assets | ||
Investment securities | 4,591 | 4,856 |
Other | 35,589 | 35,731 |
Allowance for doubtful accounts | (113) | (107) |
Total investments and other assets | 40,066 | 40,479 |
Total non-current assets | 344,393 | 347,920 |
Total assets | 753,248 | 735,028 |
Liabilities
(Millions of yen) As of December 31, 2025 As of March 31, 2026
Current liabilities
Notes and accounts payable - trade | 33,716 | 30,269 |
Current portion of bonds payable | 5,000 | - |
Short-term borrowings | 13,419 | 11,085 |
Accounts payable - other | 36,677 | 19,971 |
Income taxes payable | 9,716 | 9,115 |
Provision for product compensation | 300 | 236 |
Provision for loss on liquidation of subsidiaries and associates | 2,325 | 2,051 |
Other provisions | - | 86 |
Other | 44,797 | 46,779 |
Total current liabilities | 145,953 | 119,595 |
Non-current liabilities | ||
Bonds payable | 20,000 | 20,000 |
Long-term borrowings | 31,327 | 31,011 |
Retirement benefit liability | 3,157 | 3,120 |
Provision for product compensation | 435 | 381 |
Other provisions | 94 | - |
Other | 29,621 | 28,148 |
Total non-current liabilities | 84,635 | 82,662 |
Total liabilities | 230,588 | 202,257 |
Net assets | ||
Shareholders' equity | ||
Share capital | 55,935 | 55,935 |
Capital surplus | 54,255 | 54,255 |
Retained earnings | 319,894 | 324,590 |
Treasury shares | (104) | (105) |
Total shareholders' equity | 429,980 | 434,675 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 1,166 | 1,329 |
Deferred gains or losses on hedges | (64) | (89) |
Foreign currency translation adjustment | 74,499 | 80,362 |
Remeasurements of defined benefit plans | 17,077 | 16,493 |
Total accumulated other comprehensive income | 92,679 | 98,095 |
Total net assets | 522,659 | 532,770 |
Total liabilities and net assets | 753,248 | 735,028 |
Consolidated Statements of Income | ||
(Millions of yen) | ||
Three months ended | Three months ended | |
March 31, 2025 | March 31, 2026 | |
Net sales | 135,510 | 130,951 |
Cost of sales | 80,331 | 75,224 |
Gross profit | 55,179 | 55,727 |
Selling, general and administrative expenses | 32,759 | 35,117 |
Operating profit | 22,419 | 20,610 |
Non-operating income | ||
Interest income | 348 | 438 |
Dividend income | 1 | 1 |
Foreign exchange gains | - | 640 |
Share of profit of entities accounted for using equity method | 61 | - |
Other | 729 | 298 |
Total non-operating income | 1,140 | 1,379 |
Non-operating expenses | ||
Interest expenses | 294 | 147 |
Foreign exchange losses | 4,339 | - |
Share of loss of entities accounted for using equity method | - | 6 |
Other | 668 | 482 |
Total non-operating expenses | 5,303 | 636 |
Ordinary profit | 18,256 | 21,352 |
Extraordinary income | ||
Gain on sale of non-current assets | 345 | 0 |
Gain on sale of investment securities | 145 | 41 |
Total extraordinary income | 490 | 42 |
Extraordinary losses | ||
Loss on retirement of non-current assets | 137 | 114 |
Impairment losses | 34 | 87 |
Total extraordinary losses | 171 | 201 |
Profit before income taxes | 18,575 | 21,193 |
Income taxes | 5,070 | 5,717 |
Profit | 13,505 | 15,476 |
Profit attributable to owners of parent | 13,505 | 15,476 |
Consolidated Statements of comprehensive income
(Millions of yen)
Three months ended March 31, 2025
Three months ended March 31, 2026
Profit 13,505 15,476
Other comprehensive income
Valuation difference on available-for-sale securities | 757 | 162 |
Deferred gains or losses on hedges | 135 | (25) |
Foreign currency translation adjustment | (12,655) | 5,811 |
Remeasurements of defined benefit plans, net of tax | (316) | (584) |
Share of other comprehensive income of entities accounted for using equity method | (136) | 52 |
Total other comprehensive income | (12,216) | 5,416 |
Comprehensive income | 1,289 | 20,892 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of 1,289 20,892 parent | ||