Money

Tokyo Century to acquire majority stake in JV with BPI

Leading Japanese financing company Tokyo Century Corp. (TCC) is acquiring an additional two percent in a company it jointly owns wit the Bank of the Philippine Islands.

With its additional investment, TCC’s stake in BPI Century Tokyo Lease & Finance Corp. will increase to 51%.

With TCC as majority shareholder, the joint venture is expected to optimize the value of TCC’s expertise in the full service operating lease industry while capitalizing on BPI’s customer base and track record of growth.

The transaction is expected to be closed before the end of the year.

BPICTL is aimed at serving the growing needs of the market by enhancing services to valued customers, expanding its geographical coverage to reach more customers and implementing new innovations.

TCC provides businesses with financing for their equipment needs such as information/communication equipment and machinery.

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