• Compiled From Kyodo, Bloomberg

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Bridgestone Corp. and Toyo Tire & Rubber Co. said Friday they have agreed to form a capital alliance to better cope with tougher business conditions, including a sharp rise in oil and rubber prices.

Under the agreement, Toyo Tire will issue 20 million shares and allot them to Bridgestone, giving it an 8.72 percent stake in its smaller tire industry rival.

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