Toyoda Gosei Co., Ltd, a specialty manufacturer of rubber automotive parts and LEDs, is set to strengthen its business in China by making Tianjin Star Light Rubber and Plastic Co., Ltd., a wholly-owned subsidiary in April 2018.
Tianjin Star Light is currently jointly owned by Toyoda Gosei, Kinugawa Rubber Industrial Co., Ltd., and Starlight Rubber & Plastic Development Ltd., a holding company in China owned by Kinugawa Rubber Industrial.
The three companies have agreed that Toyoda Gosei will acquire all equity in Tianjin Star Light from the other two. By making Tianjin Star Light a wholly-owned subsidiary, Toyoda Gosei aims to speed up management decisions at Tianjin Star Light for effective use of Group resources in all of China.
Toyoda Gosei views China as a key market with promising growth, and will continue expanding its business there to meet customer needs.