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Press release
Nov 02, 2020 13:30 JST
Source:
Toyota Motor Corporation
SPARX Group, Toyota, SMBC, MUFG Bank, and Mizuho Bank Form Partnership to Establish a New Fund
Investing in Japanese monozukuri (manufacturing)
TOKYO, Nov 02, 2020 - (JCN Newswire) - SPARX Group Co., Ltd., Toyota Motor Corporation, Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd., and Mizuho Bank, Ltd. announced today that they have signed a memorandum of understanding (MOU) to establish a new fund.
The fund will aim to invest in companies that are related to Japanese monozukuri (manufacturing). The partnership's primary purpose is to contribute to the development of Japanese monozukuri by helping the companies with superior technology and human resources implement the Toyota Production System (TPS) and formulate management strategies, through the sustainable growth of these companies.
This objective is in line with the SDGs that the international community is addressing (including "decent work and economic growth" and "industry, innovation, and infrastructure"). Thus, the partnership will contribute to society by improving competitiveness in Japanese monozukuri in the face of the prolonged impact of COVID-19.
Furthermore, the five-firm partnership will consider the details of the size of the investment, other investors, and investment targets, with the goal of establishing the fund in early December.
Source: Toyota Motor Corporation
Sectors: Daily Finance, Automotive
Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
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