The Nihon Keizai Shimbun reports that pressed car parts maker Unipres Corporation has formed a joint venture with OSL SpA of Italy, to make components in France from December next year.

The venture will make parts for Renault and Nissan models, particularly the Clio and the Micra, which is known in Japan as the March. By 2005, when it is fully operational, the venture will make enough parts for a million cars a year.

The report said the new venture will be capitalised at five million euros with Unipres holding 40%, and its Italian partner 60%.