Loan for Automobile Sales Finance Business in Brazil
Supporting Overseas Business Deployment of Japanese Automobile Industry
- Region: Latin America and the Caribbean
- Manufacturing and Services
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed today a loan agreement in US dollars (USD) with Banco Toyota do Brasil S.A. (BTB), a Brazilian group company of Toyota Financial Services Corporation (TFS). The loan is co-financed with a private financial institution.
The loan is intended to finance part of the funds necessary for BTB to conduct the sales finance business mainly for Toyota brand automobiles in Brazil.
Brazil is the largest automotive market in South America, and it continues to be crucial for Toyota Motor Corporation and other Japanese automakers. As automobile sales finance is often used when purchasing a vehicle in Brazil, 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.
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 and schemes for structuring projects and by performing its risk-assuming function.