Toyota Tsusho revealed that a JV has been formed with MTK in China, engaged in manufacturing steel components for machine tools, which will start operation from January 2013.
The major products of the venture used to be mainly imported from Japan. Hence, Toyota Tsusho aims to speed up delivery through local production.
A plant situated in Dalian City, Liaoning Province, northeast China is under construction and planned to be completed by the end of November 2012.
The total investment from Toyota Tsusho is JPY 1.5 billion or CNY 114 million.