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NTN Corp. said Friday it will set up a subsidiary in China in August to produce components for constant-velocity joints for use in cars.

Shanghai NTN Corp. will be launched with startup capital of $20 million (2.34 billion yen). It will be owned 95 percent by the Osaka-based bearing maker and the remaining 5 percent will be held by Okaya & Co., a Nagoya-based trading firm specializing in steel products.

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