Jan 19, 2017
Travis Kang, CEO of Nexen Tire, attended the official opening of a new joint venture for selling Nexen and Roadstone tires in Japan. JV called Nexen Tire Japan is 51% owned by Nexen Tire, and the remaining 49% - Toyota Group trading company, Toyota Tsusho Corporation. Discussion of potential cooperation between the parties began in 2015.
As stated Nexen Tire, a joint venture between Nexen Tire Japan will optimize and strengthen supply Nexen products in the OE market and the replacement market. Based in Tokyo, the company will begin distribution of tires and Nexen Roadstone brand later this month, and Nexen Tire believes that the partnership with Toyota Tsusho will help improve brand awareness in Japan and increase sales.
As stated by the Japanese media companies Nikkei, 2022. Nexen plans to sell in Japan a million tires a year.