Itochu announces JV with Suzuki

Itochu Corporation and Suzuki Motor Corporation have formed a joint venture called Suzuki Leasing International (Thailand) Co., a motorcycle finance firm with a capital of 60 million baht (US$1.79 million) in Bangkok. Itochu is engaged in trading, while Suzuki is a manufacturer of motorcycles, automobiles, boats, industrial equipment and related products. Itochu will hold a 70% stake in Suzuki Leasing, while the remaining 30% stake will be held by Suzuki. This is the second JV between the two companies, the first being in Indonesia. (July 10, 2008)