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Mazda seeks $2.8bn from Japanese banks

Coronavirus further weakens automaker's sales as cash flow turns negative

Japanese banks are expected to acquiesce to Mazda's request for financing.   © Reuters

TOKYO/HIROSHIMA -- Mazda Motor has requested 300 billion yen ($2.8 billion) in financing from Japan's three megabanks and other institutions as it braces for further fallout from the coronavirus pandemic, and part of the loan has already been provided, Nikkei learned on Saturday.

The outbreak has caused demand to plunge, triggering shutdowns of the carmaker's plants in Japan and North America.

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