Toyota Tsusho announced on Monday the firm invested to Kuma Stainless Tubes (KUMA), which produces steel tube for automobile and motorcycle in India. Toyota Corp acquired the share of 30% for KUMA from Maruichi steel Tube, Japanese major steel tube maker, and expands steel tube business for automobile and motorcycle with Maruichi Steel Tube in India.
Toyota Tsusho sets India as new important market, and researched the market for automobile business. The firm had been established business bases with Maruichi Steel Tube in Vietnam or China. KUMA was established in November 2003. The firm’s capital fund is about 84 million yen. The share ratio is 65% of Maruichi Steel Tube, 30% of Toyota Corp and 5% of Kusakabe Electric Machinery. KUMA is only manufacturer of stainless steel tube for automobile and motorcycle, and supplies it to domestic, Japanese or overseas component makers, which has high market share. Toyota Tsusho will support for financial and supply function for automobile.Japan Steel Scrap Composite Prices (Sangyo Press)
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