TOKYO (XFN-ASIA) - Mitsubishi Corp will enter the leasing business in Saudi Arabia by taking a 20 pct stake in local firm Ajil for about 1 bln yen, the Nikkei reported, without citing sources.
The trading house will make Ajil an equity-method company and will dispatch a director, the business newspaper said.
By boosting its product line-up from construction machinery and automobiles to include medical equipment, printing machinery, information-technology-related devices and desalination facilities, the Saudi Arabian firm aims to increase annual sales to 50 bln yen in five years, according to Nikkei.
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