Toyota supplier buys Nissan-linked peer amid China competition

What happened: Tokai Kogyo Holdings, a Japanese auto parts company tied to Toyota Motor, acquired Nissan Motor-linked peer Kinugawa Rubber Industrial Holdings. Why it matters: The deal reflects pressure from Chinese competition pushing Japanese auto suppliers to look beyond their close-knit supply networks to realign.

Tokai Kogyo Holdings, a Japanese auto parts company tied to Toyota Motor, acquired Nissan Motor-linked peer Kinugawa Rubber Industrial Holdings.

The deal reflects pressure from Chinese competition pushing Japanese auto suppliers to look beyond their close-knit supply networks to realign.