MAFS is a joint venture between BDO Leasing and JACCS
, Sojitz Corp.
MPMF's rating is support-driven, reflecting Fitch's expectation of a moderate probability of extraordinary support from majority shareholder, JACCS
, if required.
Company officials are optimistic that the new JACCS
Finance branch will attract considerable business.
After the merger, JACCS
Co Ltd, a leading consumer finance company from Japan, which has a stake in SAF, injected Rp 510 billion to MPM Finance, increasing its stake to 40% in MPM Finance.
, an equity-method affiliate of Bank of Tokyo-Mitsubishi UFJ, is the sole company that deals with the installment sale finance business within the Mitsubishi UFJ Financial Group (TYO:8306), the agency said.
, the plaintiff, is a fairly well known credit card company but not famous to the extent of a MasterCard or Visa.
Use of the domain name by Toyama-based Nihonkai Pakuto constitutes an act of unfair competition against Jaccs
, Presiding Judge Kozo Tokunaga said in handing down the ruling.
With the competition body's approval, JACCS
is set to secure BDO Leasing and Finance's 3,000,000 common shares and MMPC's 375,000 common shares in Mafs for P165.63 million and P20.7 million, respectively.
This is partly because the underlying auto loans are guaranteed by JACCS
(MMPC) said it was entering the financing market through a partnership with Sojitz Corp., JACCS
BANKING AND CREDIT NEWS-October 27, 2010--R&I reiterates Jaccs
A-/a-1 ratings(C)2010 M2 COMMUNICATIONS http://www.m2.com