Republic of Panama / Participation in Sales of Toyota and Lexus

Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Kazuhiko Bando) has decided to underwrite Overseas Investment Insurance covering political risk of Republic of Panama (Panama) to support investment by ITOCHU Corporation (ITOCHU) in Ricardo Pérez S.A. (RPSA), which is an exclusive distributor for the Toyota and Lexus in Panama.

Since becoming a distributor for Toyota cars in 1956, RPSA has been steadily building trust among customers and maintaining the top position for many years in the Panamanian market for new cars.　Until now, RPSA was a wholly owned subsidiary of Grupo Corporativo Pérez S.A. (GCP) but ITOCHU acquired 70% of the shares owned by GCP.

ITOCHU has been operating automobile distributors and dealerships in many countries around the world since the 1970s. By leveraging this experience, it will seek to further popularize the Toyota and Lexus brand and enhance its value in Panama, while at the same time gaining support from Toyota Motor Corporation. RPSA expects that it will be able to create synergies and expand into new business areas by working with ITOCHU, a new shareholder that conducts a wide range of businesses, globally.

As a financial institution implementing Japan’s policy, NEXI will continue to support Japanese companies’ overseas business.

Contact: Overseas Investment Insurance Underwriting Group, Underwriting Department　Tel：03-3512-7668