Toyota-affiliated 東海興業ホールディングス made Nissan-affiliated 鬼怒川ゴム工業ホールディングス a wholly owned subsidiary. Against a backdrop of intensifying competition from China, the two companies are pursuing a restructuring that goes beyond their keiretsu affiliations. The acquisition was completed by the 4th, and the purchase price was not disclosed.
東海興業HD acquired all outstanding 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 purchase price was not disclosed. The two companies had no capital relationship previously.
Chinese companies are gaining cost competitiveness, increasing pressure across the industry to rationalize operations. This is seen within the industry as driving restructuring that goes beyond keiretsu affiliations.