Toyota and Mazda Look to Integrate Automobile Loan Units

Toyota Motor and Mazda Motor are in talks to integrate their automobile financing businesses. The tie-up aims to cut costs amid the shrinking domestic market.

The tie-up will benefit both the companies as the Mazda be able to keep its costs of raising capital low while Toyota will expand its business.

An agreement between both the companies is expected at the end of this year. Toyota’s financing business is likely to obtain a total %51 stake in Mazda’s sales financing unit Auto finance.