Toyo Leadership Resigns Following Bearing Scandal

Three top executives at Toyo Tire & Rubber Co. will step down following a controversy where the company installed defective earthquake shock absorbers in many Japanese buildings.

Effective July 1 Akira Nobuki, chairman, and Tetsuya Kuze, representative director, will resign, Kyodo News reported. Takuji Yamamoto, the company’s president, will resign at a shareholders meeting in autumn.

Data falsification by the company led to rubber-laminated bearings that failed to meet the Ministry of Land, Infrastructure and Transport criteria to be installed in buildings. The product data falsification came to light when the government withdrew its certification for the shock absorbers, Kyodo reported.

A team of outside lawyers investigating the matter determined the falsification was due the corporate culture, and advised a restructure in the company, according to the newspaper.

The company has not named who will take over its top positions, but an outsider could be named to serve a chairman or special advisor, it said.

Bridgestone Americas will debut the Bandag Virtual Plant Tour at WasteExpo 2024, taking place May 7-9 in Las Vegas, NV. The company said this virtual experience will transport viewers inside a Bandag manufacturing plant to demonstrate the safety, reliability and positive environmental characteristics of retreaded tires.

“The waste and recycling industry has long been a leader in innovation and a space to promote and advance sustainability-focused technologies,” Brian Goldstine, president of retread solutions, Bridgestone Mobility Solutions, said. “Through our new virtual experience, Bridgestone is able to demonstrate the technology, testing and time that goes into producing every Bandag retreaded tire and educate fleets on the importance of more cost-effective and eco-friendly tire solutions, regardless of their location.”