Japan's Toyo Tire posts record profit on strong U.S. sales, weak yen

Withdrawal from loss-making Chinese operation expected

20250214N Toyo Tire

The weak yen lifted Toyo Tire's profit by about 10 billion yen in 2024. (Photo by Keiichiro Sato)

MUNEMASA HORIO

KOBE, Japan -- Toyo Tire reported a record-high net profit of 74.8 billion yen ($491 million) for 2024 on Friday, boosted by American tire sales and the soft yen.

Profit rose 4% on the year to beat the company's previous forecast of a 17% decrease to 60 billion yen.

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