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Toyota Boshoku and Tokai Rubber Group Strengthen Cooperative Efforts in Urethane Molding Technology -Toyota Boshoku Acquires Capital in Tokai Chemical -
Kariya (JAPAN) - August,29 2012 - Toyota Boshoku Corporation (head office Kariya, Japan, President Shuhei Toyoda) and Tokai Rubber Industries, Ltd. (head office Komaki, Japan, President Yoshiaki Nishimura, hereafter "Tokai Rubber") announced today that they are strengthening their cooperative relationship in the development of automobile interior components. On the 31st of August, through a third-party allocation, Toyota Boshoku will purchase 150,000 new shares (20% of all shares) of Tokai Chemical Industries, Ltd. (head office Gifu, Japan, President Akira Nakashima, hereafter "Tokai Chemical") a wholly owned subsidiary of Tokai Rubber.
For more than thirty years, Tokai Chemical has provided Toyota Boshoku with various interior components such as headrests, its main product. During this time the two companies have collaborated together on product development and quality assurance. This capital participation will enable all three parties to integrate their unique technologies and strengths; Toyota Boshoku as an interior system supplier that totally develops automobile interiors, Tokai Rubber with its high damping technology and Tokai Chemical with its high technology in urethane foam molding. Through this synthesis, the three companies will develop high-value added automobile interior products and new products to aggressively explore new fields. At the same time, the companies will strengthen their global competitiveness by fully maximizing each of their manufacturing sites.
From left to right: Tokai Chemical's President Nakashima, Toyota Boshoku's President Toyoda and Tokai Rubber's President Nishimura
Overview of Toyota Boshoku Corporation
| 1. | Office | Kariya City, Aichi Prefecture, Japan |
| 2. | Established | Founded in 1918; Established in 1950 |
| 3. | Representative | President, Shuhei Toyoda |
| 4. | Capital | 8.4 billion yen |
| 5. | Number of employees | 31,883 (consolidated, as of March 31, 2012) |
| 6. | Business operations | Manufacturing and sales of automotive interior components, automotive filter and powertrain components |
| 7. | Net sales | 964.2 billion yen (consolidated, as of March 31, 2012) |
| 8. | Global network | 92 sites in 24 countries starting with Japan, North Central South America, Europe and Asia |
Overview of Tokai Rubber Industries
| 1. | Office | Komaki City, Aichi Prefecture, Japan |
| 2. | Established | Founded in 1929 |
| 3. | Representative | President, Yoshiaki Nishimura |
| 4. | Capital | 12.145 billion yen |
| 5. | Number of employees | 13,894 (consolidated, as of March 31, 2012) |
| 6. | Business operations | Manufacturing and sales of automotive components including anti-vibration rubber and hoses, IT-related components and industrial materials |
| 7. | Net sales | 251.9 billion yen (consolidated, as of March 31, 2012) |
| 8. | Global network | 47 sites in 10 countries, starting with Japan, North America, Europe and Asia |
Overview of Tokai Chemical Industries
| 1. | Office | Mitake-cho, Kani County, Gifu Prefecture, Japan |
| 2. | Established | Founded in 1968 |
| 3. | Representative | President, Akira Nakashima |
| 4. | Capital | 300 million yen |
| 5. | Number of employees | 596 (as of March 31, 2012) |
| 6. | Business operations | Manufacturing and sales of automotive components including noise absorption components and civil engineering products |
| 7. | Net sales | 12.9 billion yen (as of March 31, 2012) |
| 8. | Global network | 2 sites in Japan and China |