ADVERTISEMENT
Manila Bulletin devider Business devider Trade & Industry devider Japan backs Mitsubishi Philippines sales expansion with $573-million financing package

Japan backs Mitsubishi Philippines sales expansion with $573-million financing package

Published Jun 8, 2026 12:00 am  |  Updated Jun 6, 2026 01:30 pm
From left: Takao Kato, President & CEO of Mitsubishi Motors Philippines; Satoshi Nakano, President & CEO of MMFP; and Sanjiv Vohra, President & CEO of Security Bank.
From left: Takao Kato, President & CEO of Mitsubishi Motors Philippines; Satoshi Nakano, President & CEO of MMFP; and Sanjiv Vohra, President & CEO of Security Bank.

The Philippines’ automotive market has received another vote of confidence from Japan, with the Japan Bank for International Cooperation (JBIC) backing a $573-million financing package to support the vehicle sales business of Mitsubishi Motors Finance Philippines Inc. (MMFP).

In a statement published by JBIC last week, the Japanese policy-based lender said its governor, Nobumitsu Hayashi, signed last March 31 a loan agreement worth up to $286 million for MMFP, the Philippine financing subsidiary of Japanese auto giant Mitsubishi Motors Corp. (MMC). MMFP is a joint venture (JV) with Security Bank Corp. that began operations just last year.

The loan was co-financed by MUFG Bank Ltd., Mizuho Bank Ltd., and Sumitomo Mitsui Banking Corp. (SMBC), bringing the total financing package to approximately $573 million.

According to JBIC, the proceeds will be used to fund MMFP’s sales financing operations for Mitsubishi-branded vehicles in the Philippines.

JBIC said the Philippines has become an important market for MMC as the domestic automotive industry continues to grow steadily.

The Japanese lender noted that vehicle financing has become an indispensable tool for automakers operating in the country, where many consumers rely on financing arrangements to purchase vehicles.

“[MMC] aims to concentrate its management resources on the Association of Southeast Asian Nations (ASEAN) region, where it is competitive, and maintain and expand market share by enhancing its sales network,” JBIC said.

The Japanese lender added that supporting MMFP’s financing business would help MMC strengthen its overseas operations while contributing to the resilience of supply chains and the competitiveness of Japan’s automotive industry. It noted that the auto sector is considered a “core industry” in Japan.

JBIC said it will continue supporting Japanese companies expanding overseas while helping strengthen supply-chain resilience in strategic industries.

The financing support comes as Mitsubishi continues to hold a strong position in the Philippine automotive market.

Among members of industry group Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), Mitsubishi Motors Philippines Corp. (MMPC) has consistently ranked second in vehicle sales, accounting for around one-fifth of CAMPI member sales.

The announcement also comes as MMC explores new opportunities under the Philippine government’s upcoming Electric Vehicle Incentive Strategy (EVIS) program, which seeks to attract investments in the local production of electric vehicles (EVs) and related components.

Related Tags

Japan Bank for International Cooperation (JBIC) Mitsubishi Motors Philippines Corp. (MMPC) Mitsubishi Motors Corp. (MMC) Chamber of Automobile Manufacturers of the Philippines Inc. (CAMPI) electric vehicle incentive strategy (EVIS) electric vehicles (EVs) Mitsubishi Motors Finance Philippines Inc. (MMFP) MUFG Bank Ltd.
ADVERTISEMENT
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1561_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1562_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1563_widget.title }}

{{ item.title }}

{{ articles_filter_1564_widget.title }}

{{ item.title }}
.mb-article-details { position: relative; } .mb-article-details .article-body-preview, .mb-article-details .article-body-summary{ font-size: 17px; line-height: 30px; font-family: "Libre Caslon Text", serif; color: #000; } .mb-article-details .article-body-preview iframe , .mb-article-details .article-body-summary iframe{ width: 100%; margin: auto; } .read-more-background { background: linear-gradient(180deg, color(display-p3 1.000 1.000 1.000 / 0) 13.75%, color(display-p3 1.000 1.000 1.000 / 0.8) 30.79%, color(display-p3 1.000 1.000 1.000) 72.5%); position: absolute; height: 200px; width: 100%; bottom: 0; display: flex; justify-content: center; align-items: center; padding: 0; } .read-more-background a{ color: #000; } .read-more-btn { padding: 17px 45px; font-family: Inter; font-weight: 700; font-size: 18px; line-height: 16px; text-align: center; vertical-align: middle; border: 1px solid black; background-color: white; } .hidden { display: none; }
function initializeAllSwipers() { // Get all hidden inputs with cms_article_id document.querySelectorAll('[id^="cms_article_id_"]').forEach(function (input) { const cmsArticleId = input.value; const articleSelector = '#article-' + cmsArticleId + ' .body_images'; const swiperElement = document.querySelector(articleSelector); if (swiperElement && !swiperElement.classList.contains('swiper-initialized')) { new Swiper(articleSelector, { loop: true, pagination: false, navigation: { nextEl: '#article-' + cmsArticleId + ' .swiper-button-next', prevEl: '#article-' + cmsArticleId + ' .swiper-button-prev', }, }); } }); } setTimeout(initializeAllSwipers, 3000); const intersectionObserver = new IntersectionObserver( (entries) => { entries.forEach((entry) => { if (entry.isIntersecting) { const newUrl = entry.target.getAttribute("data-url"); if (newUrl) { history.pushState(null, null, newUrl); let article = entry.target; // Extract metadata const author = article.querySelector('.author-section').textContent.replace('By', '').trim(); const section = article.querySelector('.section-info ').textContent.replace(' ', ' '); const title = article.querySelector('.article-title h1').textContent; // Parse URL for Chartbeat path format const parsedUrl = new URL(newUrl, window.location.origin); const cleanUrl = parsedUrl.host + parsedUrl.pathname; // Update Chartbeat configuration if (typeof window._sf_async_config !== 'undefined') { window._sf_async_config.path = cleanUrl; window._sf_async_config.sections = section; window._sf_async_config.authors = author; } // Track virtual page view with Chartbeat if (typeof pSUPERFLY !== 'undefined' && typeof pSUPERFLY.virtualPage === 'function') { try { pSUPERFLY.virtualPage({ path: cleanUrl, title: title, sections: section, authors: author }); } catch (error) { console.error('ping error', error); } } // Optional: Update document title if (title && title !== document.title) { document.title = title; } } } }); }, { threshold: 0.1 } ); function showArticleBody(button) { const article = button.closest("article"); const summary = article.querySelector(".article-body-summary"); const body = article.querySelector(".article-body-preview"); const readMoreSection = article.querySelector(".read-more-background"); // Hide summary and read-more section summary.style.display = "none"; readMoreSection.style.display = "none"; // Show the full article body body.classList.remove("hidden"); } document.addEventListener("DOMContentLoaded", () => { let loadCount = 0; // Track how many times articles are loaded const offset = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]; // Offset values const currentUrl = window.location.pathname.substring(1); let isLoading = false; // Prevent multiple calls if (!currentUrl) { console.log("Current URL is invalid."); return; } const sentinel = document.getElementById("load-more-sentinel"); if (!sentinel) { console.log("Sentinel element not found."); return; } function isSentinelVisible() { const rect = sentinel.getBoundingClientRect(); return ( rect.top < window.innerHeight && rect.bottom >= 0 ); } function onScroll() { if (isLoading) return; if (isSentinelVisible()) { if (loadCount >= offset.length) { console.log("Maximum load attempts reached."); window.removeEventListener("scroll", onScroll); return; } isLoading = true; const currentOffset = offset[loadCount]; window.loadMoreItems().then(() => { let article = document.querySelector('#widget_1690 > div:nth-last-of-type(2) article'); intersectionObserver.observe(article) loadCount++; }).catch(error => { console.error("Error loading more items:", error); }).finally(() => { isLoading = false; }); } } window.addEventListener("scroll", onScroll); });
Join Our Newsletters

Sign up by email to receive news.

© 2025 Manila Bulletin The Nation's Leading Newspaper. All Rights Reserved.