Four Japanese Lessors to Form Joint Venture: Yanase Auto Leasing
Lessors Yanase, Itochu, Century Auto Leasing, which is owned 95.6 percent by Century Leasing System, and Tokyo Auto Leasing, a wholly owned subsidiary of Tokyo Leasing, have agreed to establish a joint venture — Yanase Auto Leasing with the goal of leasing automobiles sold by Yanase, according to the Japan Corporate News Network. Capitalized at 100 million yen, Yanase Auto Leasing will be owned 30 percent by Century Auto Leasing, 30 percent by Tokyo Auto Leasing, 25 percent by Yanase, and 15 percent by Itochu. The joint venture will begin operations in April. The partners plan to grow the new company by synergistically combining their respective strengths.