Toyota-affiliated 東海興業 HD acquired all of the issued shares of Nissan-affiliated 鬼怒川ゴム工業 HD, making it a wholly owned subsidiary. The acquisition was completed by the 4th, and the amount was not disclosed.
東海興業 HD acquired all of the voting issued shares of 鬼怒川ゴム工業 HD. The acquisition was completed by the 4th, and the sellers included Development Bank of Japan and others. The acquisition amount was not disclosed, and the two companies had no previous capital relationship.
As a result of the acquisition, 鬼怒川ゴム工業 HD became a wholly owned subsidiary of 東海興業 HD.
Across the industry, there is a view that restructuring beyond the keiretsu will continue as the rise of Chinese companies strengthens cost competitiveness and increases pressure to rationalize operations.