Tokyo Century : Launch of Isuzu Rental Truck Program in the Republic of the Philippines
February 25, 2022 at 01:12 am EST
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February 25, 2022
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Launch of Isuzu Rental Truck Program in the Republic of the Philippines
Tokyo Century Corporation ("TC") hereby announces that BPI Century Tokyo Rental Corporation (headquartered in Manilla, the Philippines; "BPICTR"), a member of the TC Group, and Isuzu Automotive Dealership, Inc. (headquartered in Muntinlupa City, the Philippines; "IADI") of the Ayala Group, a major conglomerate in the Philippines, have entered into a business alliance (the "alliance") and launched the Isuzu Rental Truck Program; BPICTR aims to strengthen its auto business in the country. The details are provided below.
1. Purpose of the Alliance
BPICTR, a wholly owned subsidiary of BPI Century Tokyo Lease & Finance Corporation ("BPICTL"), is 51% owned by TC and 49% by Bank of the Philippine Islands ("BPI"), a major Philippine bank under the Ayala Group. BPICTR engages in operating leases mainly focused on automobiles based in Manila. Meanwhile, IADI, a wholly owned subsidiary of AC Motors, the automobile division of the Ayala Group, sells Isuzu trucks at its bases throughout the Philippines.
Although utilizing loans and finance leasing is more popular in the procurement of trucks, the alliance will enable BPICTR to set highly competitive rental fees through a combination of its various rental structures and fleet management know-how and IADI's strong sales bases for Isuzu trucks.
The annual sales volume of commercial vehicles in the Philippines is now on the way to recovery, although it does not reach the level before the COVID-19 pandemic. Through the alliance, BPICTR will stimulate investment demand from local companies that have been holding off on investment and contribute to the business expansion of logistics-related companies being business infrastructure.
In the New Fourth Medium-Term Management Plan, TC has set key themes for the International Business segment to "collaborate with leading companies through alliance strategies" and "pursue broader and deeper business related to FinTech and mobility." Going forward, TC will continue to provide high value-added operating leases in the Philippines by leveraging the network and customer base of our alliance partner BPI and our financial and service know-how.
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2. Capital Relationship of Each Company Concerned
3. Isuzu Vehicle Provided by BPICTR (Commercial Truck)
4. Overview of IADI
(1)
Company name
Isuzu Automotive Dealership, Inc.
(2)
Head office address
Alabang Zapote Road cor. Acacia Avenue, Ayala Alabang, Muntinlupa City,
1781, the Philippines
(3)
Representative
Arthur R. Tan, CEO
(4)
Business
Sales of Isuzu passenger cars, pick-up trucks, and commercial trucks
(5)
Establishment
1995
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5. Overview of BPICTL
(1)
Company name
BPI Century Tokyo Lease & Finance Corporation
(2)
Head office address
15th Floor, BPI Buendia Center, 372 Sen. Gil J. Puyat Ave., Brgy. Bel-Air,
Makati City, Metro Manila, 1200, the Philippines
(3)
Representative
Satoshi Matsuo, President & CEO
(4)
Business
Leasing and financing
(5)
Establishment
1970
(6)
Major shareholder
Tokyo Century Corporation: 51%
and % of shares held
Bank of the Philippine Islands: 49%
6. Overview of BPICTR
(1)
Company name
BPI Century Tokyo Rental Corporation
(2)
Head office address
15th Floor, BPI Buendia Center, 372 Sen. Gil J. Puyat Ave., Brgy. Bel-Air,
Makati City, Metro Manila, 1200, the Philippines
(3)
Representative
Satoshi Matsuo, President & CEO
(4)
Business
Provision of operating lease and rental solutions
(5)
Establishment
2004
(6)
Major shareholder
BPI Century Tokyo Lease & Finance Corporation: 100%
(Note) This translation is prepared and provided for reference only. In the event of any discrepancy between this translated document and the original Japanese document, the original document shall prevail.
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Tokyo Century Corporation published this content on 25 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 February 2022 06:11:15 UTC.
Tokyo Century Corp is a Japan-based company mainly engaged in financial business. The Company operates in four business segments. Domestic Leasing segment is engaged in leasing and financing of information and communication equipment, office equipment, industrial machine tools, transportation equipment, and equipment for commercial and service industries. Domestic Automobile segment is engaged in auto leasing, rental cars, and car sharing businesses for corporations and individuals. Specialty segment is engaged in domestic and overseas leasing and financing of products such as ships, aircraft, real estate, environment and energy. International segment is engaged in leasing and financing mainly in East Asia and Association of Southeast Asian Nations, North America, and Latin America. The Company is also engaged in non-life insurance agency business and outsourced office work.
TOKYO CENTURY CORPORATION 
