Nippon Piston Ring on Wednesday said it would set up a Chinese subsidiary in Shanghai this month to sell piston rings and other auto parts.

A Kyodo News report said NPR Trading (Shanghai) Co. will be capitalized at $US650,000, or the equivalent of some 73.43 million yen. Nippon Piston Ring will invest $900,000 in total and hold 100% of shares of the new company.