Yokohama and Kumho sign MOU for strategic alliance

On November 29, Yokohama Rubber Co. Ltd. and Kumho Tire Co. Inc. signed a memorandum of understanding to start discussions to share research and development efforts, and to enter into a capital alliance through cross-shareholdings. According to Yokohama, the agreement will increase competitiveness and enhance their future growth potential in the global tire market by making more effective use of research efforts. Yokohama Rubber and Kumho plan to work out the details of the alliance as soon as possible, including methods for obtaining each other’s shares, the size of shareholdings, and the timing of acquisition.