Driving progress together with nationwide auto financing
MANILA, Aug 1, 2025 - (JCN Newswire) - Mitsubishi Motors Finance Philippines Inc. (hereafter, MMFP), the joint venture between Mitsubishi Motors Corporation (hereafter, Mitsubishi Motors) and Security Bank Corporation (hereafter, Security Bank), officially launched its operations today. Under the brand "Mitsubishi Motors Finance powered by Security Bank," MMFP started operations at five Mitsubishi Motors dealerships in April and now offer financing solutions across all 67 Mitsubishi Motors dealerships nationwide.
This nationwide rollout marks a key milestone in Mitsubishi Motors' mid-term business plan, Challenge 2025, which positions ASEAN as a core growth region-with MMFP playing a strategic role in driving that expansion in the Philippines. With a steadily growing population and strong economic fundamentals, the Philippine automotive market is on a clear growth path. In FY2024, Mitsubishi Motors sold 91,639 units locally-a 12% increase year-on-year-cementing the Philippines as one of its top ASEAN markets with 19.5% market share.
Driving growth through collaboration
With many new car buyers in the Philippines relying on financing, sales financing plays a critical role in enabling car ownership. By bringing together Mitsubishi Motors' robust market presence and Security Bank's financial expertise, MMFP is committed to driving the continued growth of Mitsubishi Motors' sales in the Philippines.
"The official launch of MMFP marks a significant milestone in Mitsubishi Motors' long-standing journey in the Philippines," said Takao Kato, President & CEO of Mitsubishi Motors. "We remain committed to the country as one of our most important markets. Through collaboration with MMFP in financing services and Mitsubishi Motors Philippines Corporation in local production and sales, we will continue to grow and serve our customers with excellence."
"The official launch of MMFP is a milestone that underscores the strengths of our strategic partnerships- with Mitsubishi Motors and Security Bank." said Sanjiv Vohra, President & CEO of SBC. "We're uniting global expertise with local insight to make car ownership more accessible for Filipinos. Reflecting the Bank's commitment to Better Banking, MMFP delivers innovative, reliable financing solutions that empower customers and elevate their quality of life."
"Today marks a key milestone for MMFP as we launch nationwide." said Satoshi Nakano, President & CEO of MMFP. "As a joint venture between Mitsubishi Motors and Security Bank, MMFP brings together market leadership and financial expertise to offer accessible, reliable financing. Our shared vision is to enrich Filipino lives by making car ownership more attainable and supporting Mitsubishi Motors' continued growth in the country."
About Mitsubishi Motors Finance Philippines Inc.
Establishment: January 21, 2025
President & CEO: Satoshi Nakano
Location: Makati City, Philippines
Shareholders: Mitsubishi Motors Corporation 51%
Security Bank Corporation 49%
Business: Provision of financing services and products to Mitsubishi Motors dealerships in the Philippines
Official Website: https://mmfp.ph
About Mitsubishi Motors Corporation
Mitsubishi Motors Corporation (TSE:7211) - a member of the Alliance with Renault and Nissan - is a global automobile company based in Tokyo, Japan, which has about 28,000 employees and a global footprint with production facilities in Japan and the ASEAN region. Mitsubishi Motors has a competitive edge in SUVs, pickup trucks and plug-in hybrid electric vehicles, and appeals to ambitious drivers willing to challenge convention and embrace innovation. Since the production of our first vehicle more than a century ago, Mitsubishi Motors has been a leader in electrification - launched the i-MiEV, the world's first mass-produced electric vehicle in 2009, followed by the Outlander PHEV, the world's first plug-in hybrid electric SUV in 2013. With a target of increasing the sales ratio of electrified vehicles to 100% by 2035, Mitsubishi Motors will deliver models that embody Mitsubishi Motors-ness and contribute to the realization of a carbon-neutral society. For more information on Mitsubishi Motors, please visit the company's website at https://www.mitsubishi-motors.com/en/
About Security Bank Corporation
Established in 1951, Security Bank is one of the Philippines' leading universal banks and is publicly listed with the Philippine Stock Exchange (PSE:SECB) in 1995. The Bank's core businesses are retail, corporate, commercial, and business (MSME) banking, offering a wide range of services including lending, leasing, foreign exchange, stock brokerage, investment banking, and asset management.
Security Bank differentiates itself from other banks as a strong, domestic, independent bank that delivers a superior customer experience in line with its brand promise of Better Banking. This is based on a deep understanding of customer needs, providing solutions in a professional, hassle-free, personalized, and timely manner. The Bank's strategic alliance with MUFG Bank, Ltd., Japan's largest bank, provides its customers with access to a broad global network.
The Bank has been recognized by international and local organizations for its constant product innovation, market leadership, and best-in-class management practices.
For more information, visit www.securitybank.com.
Security Bank Corporation is regulated by the Bangko Sentral ng Pilipinas www.bsp.gov.ph
Source: Mitsubishi Motors
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