Nexen Tire has held an inauguration ceremony for its subsidiary Nexen Tire Japan Inc. - a joint venture with Toyota Tsusho Corporation. The two companies' discussion about synergy-deriving cooperation began in June 2015, which progressed into signing of the shareholders' agreement to establish a joint venture, Nexen Tire Japan Inc. 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 organization, Nexen Tire Japan will customize its business operation to strengthen its RE business in the market and also reinforce 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.