Yoma, Mitsubishi JV to enter Myanmar tyre business

PROPERTY and construction group Yoma Strategic Holdings is entering the tyre business in Myanmar through a joint-venture company with Mitsubishi Corporation.

Yoma said yesterday that its 70 per cent-owned subsidiary Myanmar Motors has entered into an agreement with Mitsubishi relating to their joint-venture company, First Japan Tire Services Company Limited (FJTS). The joint venture will provide sales support for Bridgestone tyres in Myanmar.

Mitsubishi Corporation will hold 70 per cent of FJTS shares while 30 per cent will be held by Myanmar Motors.