Toyo Establishes Russian Sales Office

Toyo Tire & Rubber has announced the joint establishment, along with Mitsubishi Corporation, of a Russian tyre sales subsidiary. The new subsidiary, known as Toyo Tire Rus LLC, was formed on October 23. According to the Japanese manufacturer, Toyo Rus LLC was established primarily for expanding the brand presence of Toyo tyres and improving the brand’s position in this growing and increasingly motorised BRIC market.

In a press statement, Toyo states it regards Russia as a “growing market for strategy expansion” in accordance with the slogan attached to its medium-term business plan: “Global Growth – Moving from Challenge to Growth”.

The offices of the new subsidiary are located in Moscow, and Masato Kanetsuki has been appointed its first president. Toyo holds a 60 per cent ownership in the subsidiary, which was established with an investment of 50,000,000 roubles (£1.17 million), with the remainder in Mitsubishi’s hands. Toyo Tires adds that it is “convinced that this establishment of the new company demonstrates further deepening commitment in Russian market.”