Toyo Tire & Rubber has established Toyo Tyre Rus in Moscow, Russia, in a joint venture with Mitsubishi Corporation.

The JV was established to expand brand presence in the emerging market.

“We regard Russia as a ‘growing market for strategy expansion’ in accordance with our medium-term business plan,” the tyremaker said.

Toyo added that the the new company demonstrated its deepening commitment to the Russian market.