YOKOHAMA announced today that on November 2023, it spun  off the sales unit of its Vietnam tyre production and sales subsidiary Yokohama Tyre Vietnam Inc. (YTVI) into a new dedicated sales company, Yokohama Tyre Sales Vietnam Co., Ltd. (YTSV).

YTSV will begin operations on January 1, 2024, and YTVI becomes a dedicated tyre production company. YOKOHAMA considers the ASEAN region to be a high-priority market and regards Vietnam as a growth market within the region. The Company first entered the Vietnam market in November 1997 when it established joint venture tyre production and sales company. In May 2006, it established YTVI as a wholly owned subsidiary and has since raised its presence in the local market by strengthening local production and marketing of YOKOHAMA tyres. However, considering the rapid increase in demand for radial tyres for passenger cars and trucks in Vietnam in recent years, YOKOHAMA has decided that establishing separate production and sales companies is essential to expanding its business in Vietnam.

To date, YTVI has been engaged in local production and sales of bias tyres used on motorcycles, small trucks, industrial machinery, and as spare tyres for passenger cars, while also importing and marketing YOKOHAMA radial tyres for passenger cars and trucks. The establishment of a dedicated sales  company is targeted at expanding sales of YOKOHAMA tyres in the Vietnam market.

The establishment of separate tyre production and sales companies in Vietnam is YOKOAMA’s latest initiative to promote product and regional business strategies focused on increasing sales of tyres that respond to specific trends in each regional market, which are a core element in Yokohama Transformation 2023 (YX2023), the Company’s medium-term management plan for fiscal years 2021–2023.

■Profile of newly established company

Company name: Yokohama Tyre Sales Vietnam Co., Ltd.

Location: Ho Chi Minh City, Vietnam

Date established: November 30, 2023

Business: Sale of bias tyres used on motorcycles, small trucks, industrial machinery, and as spare tires for passenger cars, and the import and sale of radial tyres for passenger cars and trucks

Representative director: Yoshifumi Takano

Capital: 71.7 billion Vietnamese dong

Yokohama Rubber ownership: 100%

■Profile of Yokohama Tyre Vietnam Inc. (post-spinoff）

Location: Thuan An City, Binh Duong Province, Vietnam

Date established: May 22, 2006

Business: Production of bias tyres used on motorcycles, small trucks, industrial machinery, and as spare tyres for passenger cars

Representative director: Yasuhiro Kurokawa

Capital: 184.0 billion Vietnamese dong

Yokohama Rubber ownership: 100%