Press Release
Jun. 27, 2005
Nitto Tire to be US Spin-Off
OSAKA, JAPAN - June 27, 2005 - Toyo Tire & Rubber Co. Ltd. (President: Yoshio Kataoka) will spin off the Nitto brand division of Toyo Tire (USA) Corp., a sales subsidiary, and incorporate it as a separate company, to be called Nitto Tire North America Incorporated, effective July 1, 2005.
The Toyo Group has been striving to enhance the value of the Nitto brand in the US market for High Performance product segments, from Passenger Car tires , SUV tires and Light Truck tires. Nitto Tire North America Inc. is expected to contribute to further boost sales of Nitto tires, especially from the new US plant scheduled for completion in 2006, through timely, flexible, and creative marketing.
Overview of the New Company
1. Name:NITTO TIRE NORTH AMERICA INCORPORATED
2. Location:Schedule to open new corporate headquaters at 6021 Katella Avenue, Cypress, CA 90630 on September 1st, '05
3. Chairman:Shozo Kibata
President:Tomoshige Mizutani
4. Capitalization: US$7 million
5. Date of establishment:July 1, 2005
6. Accounting year:Fiscal year ending December 31
7. Personnel:25
Toyo Tire Corporation
Corporate Communications Dept.
Hyogo Head office Telephone: +81-72-789-9100 Facsimile: +81-72-773-3272
