TOKYO (April 22)—Yokohama Rubber Co. Ltd. established an automobile tire sales subsidiary in Russia and also turned a European office into a subsidiary to reinforce local marketing, the tire maker said.
The Russian office in Moscow is called Yokohama Russia L.L.C. Operations there are expected to start later this month. The company is a joint venture between Yokohama and Itochu Corp., with stakes of 85.1 percent and 14.9 percent, respectively. The company initially will offer only passenger car tires then expand into truck and bus tires if the demand is favorable, Yokohama said.
Yokohama's office in Dusseldorf, Germany, was transformed into subsidiary Yokohama Europe GmbH. The company will oversee Yokohama's European marketing and sales strategies.
"The move is part of efforts to strengthen Yokohama's marketing strategy by more closely managing local operations," Yokohama said in a statement. "The new company will help reinforce sales by concluding comprehensive contracts with leading store chains around Europe and by accelerating original equipment marketing to European auto makers."