Japan's MUFG to buy Indonesian car loan company

Megabank will become leader in promising field

Traffic is seen in the Kuningan business district in Jakarta. Auto sales in the country surged 18% to 1.04 million units in 2022, according to an industry group. © Reuters

YUKI NAKAMURA, Nikkei staff writer

June 26, 2023 02:02 JST

TOKYO -- Mitsubishi UFJ Financial Group will acquire a major automobile loan provider in Indonesia for 7 trillion rupiah ($465 million), becoming the industry leader in that country, Nikkei has learned.