ITOCHU Announces Establishment of an Authorized After-Sales Service Company for Isuzu Motors' Commercial Vehicles in Myanmar
August 28, 2015
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced today that it has established an authorized after-sales service company (hereinafter “the New Company”) for commercial vehicles produced by Isuzu Motors Limited in Yangon, the Republic of the Union of Myanmar.
The New Company establishes a service shop in Mingalardon, Yangon that can combine inspection, repairs, and maintenance of vehicles to offer high-quality after-sales service for commercial vehicles. UMG Group, a conglomerate in Myanmar, will sell Isuzu Motors vehicles, and the New Company will inspect, repair, and maintain them.
UMG Group imports and sells construction equipment and vehicles in Myanmar. ITOCHU has established the New Company, considering that it can collaborate with UMG Group in the Isuzu business, making the most of the two companies’ strengths: UMG Group’s broad network in Myanmar and ITOCHU’s comprehensive power and business expertise. ITOCHU aims to expand its bases in Myanmar with a view to integrating the sales and after-sales services of Isuzu vehicles in collaboration with the UMG Group.
Through the New Company, ITOCHU will develop operations to support the business of commercial vehicles (inspection, repairs, maintenance, spare parts) in response to customer needs and will help build and push the Isuzu brand. ITOCHU will contribute to the development of Myanmar’s auto industry, which is expected to achieve high growth, and the Myanmar economy.
Overview of the New Company
| Company name |
Compass Auto Co., Ltd. |
|---|---|
| Head office |
Mingalardon, Yangon |
| Establishment | August 2015 |
| Capital |
4 million U.S. dollars |
| Capital contribution | ITOCHU Group 100% |
| Business |
Automobile after-sales service |
Overview of UMG Group
| Head office |
Hlaing thar yar, Yangon |
|---|---|
| Establishment | 1998 |
| Sales |
150 million U.S. dollars (FY2014) |
| Number of bases in Myanmar | 45 |
| Business | Sales of automobiles and construction equipment, food, mining, telecommunications, finance |