Editorial Notes
Editorial policy

As a key element of engagement with
our stakeholders
It is our stated policy that, being strongly aware that every action in our business is linked to society
and the future, we will seek to fulfill our purpose by solving social issues through our corporate
activities and creating social value.
Last year, we published an integrated report for the first time in order to share our vision of thesociety we are seeking to bring about through our corporate activities, and to provide information on
the initiatives we are undertaking to make that society a reality. We are delighted that so many of ourstakeholders have read the report, which we hope has helped your understanding of the future we areworking toward.
Our workforce, led by the management team, has been exploring what our strengths are anddeveloping our vision of a sustainable society further. We have also received invaluable feedback frommany of our stakeholders who have read the first Integrated Report. Based on the insights gained
through this process, we have made some changes to improve the clarity of our value creationstorytelling in this year’s Integrated Report.
This report will form the basis of our ongoing engagement with our stakeholders, which will
enable us to further enrich society through our corporate activities.

Reporting period:

Guidelines and other references:

From January 2023 to December 2023
* The report contains some informationfrom outside the above period• International Integrated Reporting
Council (IIRC),
The International Integrated Reporting
Framework• Japan’s Ministry of Economy, Trade andIndustry, Guidance for Collaborative Value
Creation 2.0• Global Reporting Initiative,GRI Standards (sustainability reportingstandards)

Scope:
Toyo Tire Corporation and groupcompanies in and outside Japan(consolidated subsidiaries)

Organization names in this report:
Toyo Tire Corporation itself is referred
to as “Toyo Tire Corporation” or “we”
The entire Group is referred to as“Toyo Tire Group,” “the Group” or “we”
Individual companies in the Group arereferred to by their company nameNote on forward-looking statements
This report contains forward-lookingstatements concerning future performance.
These statements are not a guarantee offuture performance and involve risks anduncertainties. Please note that factors suchas changes in the operational environment
may cause the actual future performance
to deviate from planned figures.

CONTENTS
Introduction

13

Our Philosophy

7

Growth Trajectory

9At a glance

VisionMateriality

17

Value Creation Process

35

Domain Ⅰ

Value creation

71

Financial Summary (11 years)

19

Our Strengths

41

Domain Ⅱ

Foundation for value creation

73

Consolidated Balance Sheets

21

External Environment andRisks & Opportunities

47

Domain Ⅲ

Risk management75

23

Toyo Tire Materiality

Close-up

Consolidated Statements of Income /Consolidated Statements of Comprehensive Income

76

Consolidated Statements of Cash Flows

57

TNFD

77

Investor Information

58

Human Rights

78Corporate Data

Top Message

Strategy1125

Financial Strategy

28

Medium-Term ’21 Plan Progress

28

Progress on R&D, production andsales strategies

29

Progress on key performance indicators

29

Progress on Digital transformation

30

Progress of Tire Business

33

Progress of Automotive Parts Business

34

Financial Highlights

Message from the President

TOYO TIRE Integrated Report 2024

Data

Governance59

Pursuing sound governance64

Message from the Chairman

Positioning of this report
Financial information

Integrated Report 2024

ESG Promotion Dept., Corporate Infrastructure Division
2-2-13, Fujinoki, Itami City, Hyogo 664-0847, Japan
Tel: +81-72-789-9126
https://www.toyotires.co.jp/csr/
Publishing date: July 2024** It is English version published.
Japanese version was published in August 2024.

65

Messages from the Outside Directors

69

Directors, Audit & Supervisory Board Members
and Corporate Officers

Integrated Report2024

Securities report in JapaneseCorporate website
IR

Corporate Governance reportin JapaneseCorporate website
Sustainability

Comprehensive

Editorial Notes / ContentsConcise1

Non-financial information

TOYO TIRE Integrated Report 20242