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Japanese company ITOCHU Corporation takes over Panama's Toyota distributor

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Moderator comment: Another case of poor proofreading by the news organization that published the below article. I suspect that their below date reference should read "On Monday, April 16th...".



Japanese company takes over Panama distributor

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The shakeup in Panama auto distributorships continues with the announcement that the Japanese group  ITOCHU Corporation is now the majority shareholder in Ricardo Pérez S.A, the Toyota car distribution company in Panama.

The amount of the transaction is unknown but was agreed between Grupo Corporativo Pérez and the giant Asian emporium that has business divisions that include machinery, electronics, chemicals, and aerospace.

On Monday, April 13  the Panamanian group confirmed the information, explaining that although ITOCHU Corporation will have a majority stake in the distribution and sale of the brands of Toyota Motor in Panama, Ricardo Pérez will continue to be part of the business.

“ITOCHU Corporation considers Ricardo Pérez as the best strategic partner to materialize its vision in Panama and become a reference in Latin America,” said a statement from the Panamanian company.



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  • Moderator_02 changed the title to Japanese company ITOCHU Corporation takes over Panama's Toyota distributor
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New Player in Automotive Market

Ricardo Pérez S.A., distributor of Toyota and Lexus in Panama, has signed an alliance with the Japanese Itochu Corporation, which will have a majority stake in the automotive company.

Monday, April 16, 2018

In a statement posted on its website, Grupo Corporativo Pérez announced that the Japanese multinational ITOCHU Corporation will have a majority and joint share with the group in the distribution company of the brands of Toyota Corp.See also: "$284 million to Buy Suzuki Dealer in Costa Rica and Panama"

".... ITOCHU Corporation has vast experience, operating dealers and car dealerships in many countries around the world since the 1970s. Taking advantage of this experience, will aim to popularize even more the Toyota and Lexus brands in Panama."

See also: "Car sales down 19% in February 2018"

"ITOCHU will also seek to promote businesses related to the areas covered by the CASE concept (Connected, Autonomous, Shared and Electric), as well as promoting new initiatives that contribute to the environment and society.

See full press release (in Spanish).



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