Nexen Tire Establishes Worldwide Brand Awareness through Official Partnerships with Formula Drift and Manchester City
Nexen Tire and Toyota Tsusho Corporation have signed an agreement to establish a joint venture, Nexen Tire Japan Inc. Travis Kang, CEO of Nexen Tire and Ichiro Kashitani, Automotive Division Chief Officer of Toyota Tsusho Corp were present at the inauguration ceremony, which took place following the two companies’ discussion about synergy-deriving cooperation since June 2015.
Toyota Tsusho Corporation, the trading arm of Japan’s Toyota Group, mainly exports automobiles and automotive parts, but is also actively involved in a range of businesses including metals, chemicals and electronics. The company earns ¥67 billion (£479.7 million/US$591 million) in 2015 financial year with six operating divisions and over 150 offices as well as 900 subsidiaries and affiliates worldwide.
With Nexen Tire holding 51% and Toyota Tsusho holding the remaining 49% of the shares, Nexen Tire Japan Inc. begins its sales of Nexen Tire’s products this month. With local management within the organisation, Nexen Tire Japan will customise its business operation to strengthen its RE business in the market and also reinforce original equipment (OE) supply to Japanese automobile manufacturers carrying on diverse marketing activities.
With the leverage of Toyota Tsusho’s brand awareness and distribution network, Nexen Tire aims to expand its business hence bolster Nexen Tire’s brand awareness and boost its sales within Japanese market.
Nexen Tire has been providing its OE to global automobile manufacturers such as Porsche, Volkswagen, Renault and Fiat Chrysler Automobiles. Nexen Tire is also establishing worldwide brand awareness through diverse marketing activities including official partnerships with the United States drifting series Formula Drift and the English Premier League’s Manchester City Football Club, as well as sponsorship of the Czech Republic’s Premier Ice Hockey League’s BK MladaBoleslav.