Nexen Tire has held an inauguration ceremony for its subsidiary Nexen Tire Japan Inc. - a joint venture with Toyota Tsusho Corporation. The ceremony took place in Tokyo, Japan with CEO of Nexen Tire, Travis Kang, and Ichiro Kashitani, Automotive Division Chief Officer of Toyota Tsusho Corp and other relevant parties.

The two companies' discussion about synergy-deriving cooperation began in June 2015, which progressed into signing of the shareholders' agreement to establish a joint venture, Nexen Tire Japan Inc.

Toyota Tsusho Corporation, the trading arm of Japan's Toyota Group, mainly exports automobiles and automotive parts, but is also actively involved in a range of businesses including metals, chemicals and electronics.

Established in 1948, Toyota Tsusho Corporation is one of the Top 5 Japanese trading companies, earning JPY 67 billion (USD 591 million) in FY 2015 with six operating divisions and over 150 offices as well as 900 subsidiaries and affiliates worldwide.

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