Mazda Agrees with Itochu to Make Its New National Sales Company in South Africa a Joint Venture
January 15 2015 - 10:51PM
JCN Newswire (English)
Mazda Motor Corporation announced today that it has reached an
agreement with Itochu Corporation (Itochu) to turn its new national
sales company in South Africa into a joint venture.
Mazda established the new national sales company, Mazda Southern
Africa (Pty) Ltd (MSA), with the aim of increasing sales and
strengthening the Mazda brand in South Africa. Operations began at
the company in October 2014. MSA will carry out a third party
allocation of new shares worth 30 million rand (approximately 300
million yen) to Itochu and form a joint venture company with the
aim of further strengthening sales in South Africa.
Mazda has a long history in South Africa dating back to 1963 when
the company first entered the market. At present, Mazda sells more
vehicles in South Africa than in any other country on the African
continent. With a focus on SKYACTIV models, MSA is expanding its
line-up with the aim of increasing sales and further strengthening
the Mazda brand.
Moving forward, Mazda will take advantage of Itochu's local
business knowledge, experience and network in South Africa. The
company aims to enrich the lives of people in the country and
become a brand that builds a strong bond with its customers.
About Mazda
Mazda Motor Corporation (TSE:7261) started manufacturing tools in
1929 and soon branched out into production of trucks for commercial
use. In the early 1960s, Mazda launched its first passenger car
models and began developing rotary engines. Still headquartered in
Hiroshima in western Japan, Mazda today ranks as one of Japan's
leading automakers, and exports cars to the United States and
Europe for over 30 years. For more information, please visit
www.mazda.com.
Source: Mazda
Contact:
Corporate Communications Division
Mazda Motor Corporation, Japan
+81-3-3508-5056 [Tokyo]
+81-82-282-5253 [Hiroshima]
mailto: media@mazda.co.jp
Copyright 2015 JCN Newswire. All rights reserved. www.japancorp.net