Toyo Tire's Q3 Earnings Miss Estimates Amid US Tariffs and Rising Costs

Toyo Tire Corp's Q3 operating profit missed estimates due to US tariffs and higher raw material costs, resulting in a ¥4.8 billion ($31 million) loss. Shares fell 6.2% in Tokyo. The company raised its full-year operating profit forecast to ¥95 billion, but aims to exceed ¥100 billion under its next five-year midterm plan. Toyo will unveil the plan next year, outlining potential stock buybacks and investment for new production facilities.