Toyo Tire Lifts Outlook, Boosts US Output to Cushion Tariff Blow

Toyo Tire Corp. plans to absorb a ¥12.6 billion ($85.6 million) tariff impact through price adjustments, a production mix overhaul and a change in manufacturing strategy, including a ¥30 billion investment to expand its US output.

The tiremaker will accelerate production of high-margin products such as its WLTR tire used in both SUVs and pickup trucks at its plant in Georgia, with operations set to begin in 2027. “As our most important market, we are committed to expanding our presence in North America,” Chief Executive Officer Takashi Shimizu said during an earnings briefing on Friday. North America accounted for 66% of the company’s total revenue last fiscal year.