Toyota Financial Services is in talks with the
Japan Bank of International Cooperation, a Japanese governmental
financial aid institution, to obtain a government loan.
As the world’s biggest vehicle manufacturer forecasts its first
loss in almost 60 years, its finance arm is understood to be
looking for JPY200 billion (€1.62 billion) in loans, according to a
TV report by NHK, Japan’s public broadcaster.
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Toyota expects its business to be hit particularly in the US,
traditionally its most profitable market.
The company is planning to increase its share in the European
market to be less dependent on the US market.
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