- Region: Asia
- Manufacturing and Services
- Overseas Investment Loans
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The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed on December 27 a loan agreement in Thai baht with Toyota Leasing (Thailand) Co., Ltd. (TLT), a Thai subsidiary invested in by Toyota Financial Services Corporation (TFS) and other entities. The loan is co-financed with a private financial institution.
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This loan is intended to finance part of the funds necessary for TLT to conduct the sales finance business for Toyota-branded cars in Thailand, following a loan in August 2020*1.
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The automotive market in Thailand has been expanding due to population increase and economic growth, and it continues to be crucial for Toyota Motor Corporation and other Japanese automakers that maintain a strong presence in Thailand. As automobile sales finance is often used upon purchase in Thailand, the sales finance business has become an important strategic tool for each manufacturer to increase its sales. This loan supports the overseas business deployment of such a Japanese automaker through financing in the local currency, and it contributes to maintaining and strengthening the international competitiveness of the Japanese automobile industry.
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As Japan’s policy-based financial institution, JBIC will continue to support the overseas business deployment of Japanese companies by drawing on its various financial facilities, including loans to meet the need for funds in local currencies, as well as schemes for structuring projects, and performing its risk-assuming function.
Note
- *1