Polymerupdate Press Release - Sojitz Establishes New Company to Enter Automotive Retail Sales Business in Aichi
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Sojitz Establishes New Company to Enter Automotive Retail Sales Business in Aichi

Petrochemical industry | 18 Jun 2019 | Polymerupdate.com
- Alliance with Sanwa Service Group -

Sojitz Corporation (“Sojitz”) has established Sojitz Auto Group Tokai Corporation (“Sojitz Auto Group Tokai”) along with partner Million Auto Service (“Million Auto”), a subsidiary under major Aichi prefecture car retailer, Sanwa Service Group (“Sanwa Service”). This new auto company based in Aichi prefecture will expand its sales of pre-owned premium brand vehicles throughout the Tokai region, targeting the high-income segment. In addition to these activities, Sojitz Auto Group Tokai will offer financing services to create new buyer demand through its Fintech Service.*
* A fintech service developed by Global Mobility Service with whom Sojitz concluded a capital and business tie-up agreement in June 2018. (Press release on June 7th, 2018)

In April 2019, Sojitz Auto Group Tokai opened a Nagoya branch in Kiyosu City and another location in Anjo City.

The Nagoya branch currently sells pre-owned luxury brand vehicles. Sojitz possesses many years of experience operating authorized auto dealerships in Japan and overseas. Utilizing this expertise and Sanwa Service’s networks, Sojitz is now entering the Tokai region to further build upon the stable earnings foundation of its car dealership business, a core focus area of the Automotive Division.

As for the Anjo City dealership, Sojitz Auto Group Tokai offers auto sales financing that utilize its Fintech Service. An influx of foreign workers is expected to accompany Japan’s amended immigration act that went into effect from April 2019, opening a new market of consumers. Sojitz plans to provide these foreign workers with new opportunities to purchase vehicles that they could not obtain through previous car loans. Going forward, Sojitz will continue to promote the spread of fintech services to contribute to the development of a future mobility society.
Note: This story has not been edited by The Polymerupdate Editorial team and is auto-generated from a syndicated feed.
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