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Japan’s Toyo Tire & Rubber Corporation recently announced its sales and profit for the first nine months of fiscal 2011 (the fiscal year ended on March 31 in Japan). From April 1, 2011 to December 31, 2011, sales of Toyo Tire increased by 6.7% to 2 billion euros; operating profit increased by 10.4% to 95.8 million euros. Despite rising sales revenue, the company’s net profit was only 3,390 euros, a decrease of 19.4% year-on-year. Dongyang Tire attributed the decline in net profit to the grim global economic situation.