TOKYO (May 24, 2010)—Tokai Rubber Industries Inc. said it will accelerate its expansion in China, India and South America, and also has revised downward a sales target for 2012.
The company said it recognizes growth increasingly will take place in emerging markets. It also said smaller cars will become increasingly important in the global economy.
Tokai also said it expects to aggressively enter the Chinese market; will accelerate its product development cycle; pay more attention to corporate responsibility and try to streamline its management structure to improve productivity and responsiveness.
The firm altered a management plan announced in 2007, revising targets to take into account the 2009 financial crisis. Tokai now expects sales in 2012 to be about $3.5 billion, rather the previously stated $4.4 billion.
The manufacturer still expects ordinary products, return on investment and return on assets to remain at 10 percent.