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The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed today a loan agreement in US dollars (USD) with Toyota Motor Credit Corporation (TMCC), a US group company of Toyota Financial Services Corporation (TFS). The loan is co-financed with a private financial institution.
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The loan is intended to finance part of the funds necessary for TMCC to conduct the sales finance business mainly for Toyota brand automobiles in the United States.
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The United States is one of the world's leading automotive markets, and continues to be crucial for Toyota Motor Corporation and other Japanese automakers that maintain a strong presence in the country. As automobile sales finance is often used when purchasing a vehicle in the United States, the sales finance business has become an important strategy for manufacturers to increase their sales. This loan supports the overseas business deployment of one such Japanese automaker, thereby contributing toward 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 as well as schemes for structuring projects and performing its risk-assuming function.
