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Tokai Rubber Industries Ltd Announces Business Alliance with Toyota Boshoku Corp.
Tokai Rubber Industries Ltd announced that its subsidiary has decided to issue 150,000 new shares to Toyota Boshoku Corp., on August 31, 2012. After the issuance, Tokai Rubber Industries will hold 600,000 shares (80% stake) of the subsidiary and Toyota Boshoku will hold the other 150,000 shares (20% stake). The subsidiary will become a joint venture of Tokai Rubber Industries and Toyota Boshoku.
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