Sojitz : Establishes Import Distributor for Mitsubishi Fuso-brand Vehicles in the Philippines
November 22, 2018 at 12:12 am EST
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Sojitz Corporation ('Sojitz') has acquired distribution rights in the Philippines for vehicles produced by Mitsubishi Fuso Truck and Bus Corporation (Head Office: Kawasaki, Kanagawa; Representative Director: Hartmut Schick; 'Fuso'), establishing a fully-owned subsidiary called Sojitz Fuso Philippines Corporation ('SFP') in the process. This new subsidiary aims to further expand sales of Fuso's vehicles in the country.
【Fuso-brand trucks and buses sold in the Philippines】
The Philippines has shown stable growth over the last 10 years, with the GDP marking around 6% growth annually. In 2017, the country's per capita GDP exceeded USD 3,000-a commonly-used benchmark for mass consumer motorization-leading to predictions of greater and greater automotive demand for the Philippines. This demand will extend not only to general passenger vehicles; experts say that demand for trucks and buses will continue to grow, backed by the economy's burgeoning need for better logistics and distribution.
Sojitz has been involved with the Philippines' auto industry for many years-a track record which includes prior work with Fuso-brand vehicles. Through the establishment of this new company, Sojitz will utilize its automotive business expertise to meet demand for trucks and buses in the country, expanding Fuso's vehicle sales in the country and supporting the growth of the Philippines' economy.
Company Overview - Sojitz Fuso Philippines
Established
September 2018
Head Office
23/F, Tower 1, Insular Life Corporate Centre, Insular Life Drive,
Filinvest Corporate City, Alabang, 1781 Muntinlupa City
Representative Director
Takatsugu Nitanai
Ownership
Sojitz: 100%
Main Business
Import, sale, and maintenance of Mitsubishi Fuso Truck and Bus Corporation-brand vehicles
Company Overview - Mitsubishi Fuso Truck and Bus Corporation
Daimler AG: 89.29%, Mitsubishi group companies: 10.71%
Main Business
Developing, designing, manufacturing, selling, importing, exporting, etc. of trucks, busses, and industrial engines
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Sojitz Corporation published this content on 22 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 November 2018 05:10:03 UTC
Sojitz Corporation is a diversified group organized around 10 business segments:
- distribution of chemicals products (25.4% of sales): organic, basic and specialty chemicals, plastic products, resins, etc;
- mining operations (22.2%): coal mining, alumina refining, sale of steel products and ferrous and non-ferrous metals, etc;
- distribution of large consumer products (17.6%): clothing and accessories, textile products, home and decorative articles, etc;
- automobile assembly and sales (11.6%);
- production and sale of food products and ingredients (7.8%);
- sale of industrial machinery and equipment and development of health facilities (6.9%);
- development and operation of energy and telecommunications infrastructure (3.6%);
- industrial infrastructure operation, property management and urban development (2%);
- aircraft and ship sales (1.7%). The group also develops activities in the operation of airport and rail infrastructure;
- other (1.2%): provision of financial services, logistics services, consulting, etc.
SOJITZ CORPORATION 
