Industry News

Yokohama Acquires Japanese Aichi Tire Industry

Yokohama expands its Commercial Tire Business in Japan by acquiring Aichi Tire Industry  

Japan: On 15th March, The Yokohama Rubber Co., Ltd. completed the acquisition of Aichi Tire Industry Co. Ltd., which is into manufacturing and selling of cushion and solid tires for industrial vehicles.

As per Yokohama, the aim of acquisition is to expand the company’s commercial tire business as underlined in the Yokohama’s medium-term management plan, Grand Design 100, “tire strategy in the ongoing Phase IV (2015–2017)”. The strategic goal of the company includes acquiring the Amsterdam-based off-highway tire manufacturer, Alliance Tire Group B.V. in July 2016 and opening a Mississippi plant for producing truck and bus tires in October 2015.

TechSci Research believes that Yokohama has been a leading player in the Japanese tire market and with the acquisition of Aichi Tire Industry, the company is likely to expand its tire portfolio in the country, in coming years. Consequent to this, the market share of the company is estimated to hasten in Japan tire market in following years.

According to a recent report published by TechSci Research, Japan Tire Market Forecast and Opportunities, 2021”, 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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