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Toyota Tsusho, Toyobo to Start Airbag Venture in China

Toyota Tsusho Corp. (8015) and Toyobo Co. will spend 1.1 billion yen ($13 million) to form a venture to make airbag textiles in China.

Toyota Tsusho, an affiliate of Toyota Motor Corp. (7203), will take a 30 percent stake in the venture, and Toyobo, a synthetic fiber maker, will hold 70 percent, according to a statement on Toyota Tsusho’s website today. The venture plans to start production in Jiangsu province in April 2012, the statement said.

To contact the reporter on this story: Go Onomitsu in Tokyo at gonomitsu@bloomberg.net

To contact the editor responsible for this story: Gearoid Reidy at greidy1@bloomberg.net

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