NTN Corporation announced the signing of a joint venture agreement with PT. Inti Ganda Perdana of Astra Group to form PT. Astra NTN Driveshaft Indonesia. PT. Astra NTN Driveshaft is a manufacturer of CVJ. CVJ is a critical security component that smoothly transmits the driving force of automotive engines and motors to tires. NTN and IGP will establish a new company PT. Astra NTN Driveshaft Indonesia based on the joint venture agreement, and will construct a plant with the aim of starting mass production in August 2020. The transaction will enable both NTN and PT. Inti Ganda Perdana to expand the supply of constant velocity joint which is essential component for front wheel drive vehicles whose demand is expanding in automotive market in Indonesia.