Japan, March 31 -- Sumitomo Corporation and Compagnie Generale des Etablissements Michelin (Head Office: Clermont-Ferrand, France; hereinafter "Michelin") have agreed that TBC Corporation (hereinafter "TBC"), a tire distribution company jointly operated in the United States, will sell Midas Inc. (hereinafter "Midas"), an auto repair and maintenance company under TBC's umbrella, to Mavis Tire Express Service Corp. (Head Office: New York, USA; hereinafter "Mavis"), a tire retail chain operating throughout the United States. The sale is expected to be completed during the first quarter of fiscal year 2025, following the completion of various regulatory approval procedures. TBC is currently focusing its management resources on its core business...