Korea's NEXEN TIRE to Make Full-scale Entry in Japan

Mobility

2017-01-16

Leading Korean tire manufacturer NEXEN TIRE Corporation (President & CEO: KANG, Ho Chan; hereinafter "NEXEN") and Toyota Tsusho Corporation (President & CEO: Jun Karube; hereinafter "Toyota Tsusho") announce they have established a joint-venture automobile tire sales company in Japan and started business operations.

Joint venture NEXEN TIRE JAPAN INC. (hereinafter "NEXEN TIRE JAPAN") will act as the Japan distributor for "NEXEN" and "ROADSTONE" automobile tire brands manufactured by NEXEN. The company will begin tire sales in January 2017.

Details of Planned Products for Japan

1. Product brands

NEXEN: The company's flagship tire brand installed as the standard tire on vehicles sold by many different automakers around the world.
ROADSTONE: A long-selling tire brand with a track record of more than 40 years.

2. Product features

NEXEN tires feature exceptional quality and cost-performance. The tires are manufactured on a fully automated state-of-the-art production line and subjected to stringent quality controls. Porsche and many other luxury European automakers, along with Japanese automakers, have chosen NEXEN as their standard tire. In addition to exceptional functionality and quality, the tires are distinguished by their advanced design and have won the design industry’s top accolade, the Good Design Award.

NEXEN is the standard tire for Porsche Cayenne

3. Tire sizes

NEXEN tires are available for nearly all types of passenger vehicles, from smaller tires for small cars to custom tires for RVs with a large-size 24-inch radius and 25% aspect ratio.

4. Purchase points

NEXEN tires will be available throughout Japan at car goods retailers, automobile dealers, tire stores, e-commerce stores, gasoline stations, and repair shops.

NEXEN will strive to be Japan’s No. 1 tire importer by using the establishment of the joint venture to expand its share of the tire replacement market and make inroads among Japanese automakers through a more robust distribution structure.

Toyota Tsusho will use its entry into the tire distribution business to expand its aftermarket auto parts value chain in Japan, an important part of its core business field of mobility.

With “Smart Choice” as its business slogan, NEXEN TIRE JAPAN will strive to enhance the reputation of NEXEN products in Japan and expand sales.

Reference

Overview of NEXEN TIRE JAPAN

Company Name	NEXEN TIRE JAPAN INC.
Location	Minato-ku, Tokyo, Japan
Representative	Ryu Nishimura, President
Establishment	November 4, 2016
Capital	¥280 million
Shareholder ratio	NEXEN 51%、Toyota Tsusho 49％
Principle　Lines of Business	Japan distributor for products manufactured by NEXEN

Overview of NEXEN

Company Name	NEXEN TIRE Corporation
Location	Yangsan-si, Gyeongsangnam-do, Korea
Representative	KANG, Ho Chan, President
Establishment	1942.6.24
Principle　Lines of Business	Manufacture and sale of automobile tires

Overview of Toyota Tsusho

Company Name	Toyota Tsusho Corporation
Location	4-9-8 Meieki, Nakamura-ku, Nagoya, Aichi, Japan
Representative	Jun Karube, President & CEO
Establishment	1948.7.1
Principle　Lines of Business	Domestic and international trade of goods, export and import of goods, construction undertaking, insurance agents, among others

The information in this release is current as of the date of announcement.
Please note that information may change after the date of announcement. Thank you in advance for your understanding.

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