Yokohama Rubber started the Hamatite business in 1958 and has since grown the operations with a focus on automotive and construction sealants and adhesives.
Despite offering "high quality and performance products," the business has faced challenges in the current market environment, Yokohama Rubber said.
"After thoroughly considering how best to achieve further growth and development of the Hamatite business, the company decided ... (it) could be best developed together with a global industry leader," it added.
The move to divest Hamatite, Yokohama said, is part of the new medium-term management plan—Yokohama Transformation 2023 (YX2023)—which was unveiled in February.
The plan outlines growth strategies for each of YRC businesses to transform Yokohama into a "corporate group."
In a separate news release, Sika said Hamatite was "a highly recognized, trusted supplier with a strong, reputable brand, holding a leading position in the Japanese automotive and construction industry."
Hamatite's product portfolio comprises various technologies such as polyurethanes, hot melts, and modified silicones.
The brand, according to Sika, is "the preferred solution" among the Japanese OEMs for glass bonding as well as hot melt applications.
The main application area in the construction industry is sealing and bonding solutions for exterior facades.