The logo of Mazda is pictured at the LA Auto Show in Los Angeles, California, U.S., November 20, 2019. REUTERS/Andrew Cullen
TOKYO (Reuters) – Mazda Motor Corp (7261.T) has sought loans totalling about 300 billion yen ($2.8 billion) from Japan’s three megabanks and other lenders to ride out the coronavirus epidemic, a source with direct knowledge of the matter said on Saturday.
The megabanks – Mitsubishi UFJ Financial Group (8306.T), Sumitomo Mitsui Financial Group (8316.T) and Mizuho Financial Group (8411.T) – along with the Development Bank of Japan, Sumitomo Mitsui Trust Holdings (8309.T) and others are set to agree, with some already having extended the loans, the person said, declining to be identified because the information is not public.
All three megabanks declined to comment on the loan request, which was reported by the Nikkei business daily earlier. Mazda did not immediately respond to a request for comment.
Mazda, like most other automakers, has reduced…
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