Sumitomo invests in Iraq car dealer

The Japan Times
Thu, Oct 3, 2013

Sumitomo Corp. has invested ¥320 million in an Iraqi auto dealer in the first major investment in Iraq by a Japanese company after the 2003 Iraq war.

Sumitomo has acquired a 45 percent stake in SAS Automotive Services Ltd., a subsidiary of Iraq’s largest automotive business, the Sardar Group.

Through SAS, Sumitomo will expand its distribution business for Toyota Motor Corp. vehicles in Iraq, including after-sales services.

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