TOKYO -- Japan's Marubeni has taken a minority stake in a Mexican tire dealer, aiming to capitalize on growing maintenance demand as economic growth boosts car ownership.
The trading house bought 49% of shares in Radial Llantas for several billion yen (1 billion yen equals $9.6 million) this month, marking its first foray into tire sales in the Americas. The dealer will be an equity-method affiliate, which Marubeni expects to lift profit and dividend revenue. The Japanese company plans to get involved in management as well by dispatching an employee.
