Osaka, Japan – TOYO TIRE & RUBBER CO., LTD. (President and CEO: Kenji Nakakura, the “Company”) :
To the many victims and victims’ families of the earthquake of March 11, 2011, we wish to express our deepest condolences.
Within the Toyo Tires group, our facility in Northern Japan was directly affected by this earthquake. Immediately following the earthquake, the Company established an emergency crisis center. Currently, the center is verifying the safety and welfare of all of our employees and their families, and taking appropriate steps to respond to this crisis.
At the present time, neither the Sendai nor our other manufacturing plants in Japan have been affected by the tsunami, and there has not been any significant earthquake damage to our plant building or facilities. However, due to a power outage, the Sendai plant has temporarily been shut down. Once power is restored, and the safety of the plant facility has been confirmed, the Company plans to restore operations, but it is not yet clear when this will happen.
Likewise, it is not yet known what the Company’s financial losses or the impact to business results will be from this earthquake. The Company will provide periodic updates as it achieves an understanding of the situation.