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Yokohama Rubber Plans to Acquire Aichi Tire Industry Co., Ltd.

Japan based tire company, Yokohama, set to acquire domestic industrial tire manufacturer

Japan: Yokohama Rubber and Aichi Tire Industry signed an agreement as a part of which, Yokohama would acquire the renowned industrial tire manufacturer, Aichi Tire Industry, by March 2017.

The acquisition of the company aims to strengthen the market position of Yokohama Rubber Company across the region.

Aichi Tire Industry Co., Ltd. excels in manufacturing tires for forklifts and industrial machinery, whereas, the company’s product portfolio includes solid as well as press-on tires. As on financial year, ending on 31st March 2016, the company (Aichi Tire) reported net sales of approximate USD54.25 million and an operating income of about USD4.32 million.

As per TechSci Research, the acquisition of Aichi Tire Industry Co., Ltd. by Yokohama, would provide the latter company to enhance its presence across Japan, along with expanding its tire portfolio in the country. Moreover, with the conclusion of this deal, the company is eventually, expected to strengthen its sales in the region in coming years.

According to a recent report published by TechSci Research, “Japan Tire Market  Forecast and Opportunities, 2021’’, The tire market in Japan is anticipated to cross $ 32 billion by 2021. Growing demand for small & mini passenger cars, high vehicle ownership and increasing demand for better quality tires are some of the major factors anticipated to positively influence the country’s tire market over the next five years. In Japan, tire market is predominantly replacement driven owing to large vehicle fleet and high vehicle ownership ratio. Passenger car tire segment dominated the Japan tire market in 2015, and the segment is anticipated to maintain its dominance over the next five years as well owing to increasing penetration and popularity of electric and hybrid cars.

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