Toyota Tsusho Corporation ("Toyota Tsusho") has decided to invest in TOYOTA MYANMAR Co., Ltd. ("TMY") the first vehicle production company established by Toyota Motor Corporation ("Toyota") in Myanmar.

The automotive market in Myanmar, in accordance with the growth of the economy, the demand for new vehicles has been sored in recent years (2018 market: approx. 18,000 units, 2.1 times more than the previous year).

Toyota Tsusho is focusing on expanding business in the Mekong region and is promoting various businesses in Myanmar including participation in port terminal operation at Thilawa Port.

For automobile-related business, Toyota Tsucho subsidiary T.T.A.S. Co., Ltd. will sell, repair and provide parts for Toyota vehicles. With the establishment of TMY, Toyota Tsusho aims to move into production and construct a value chain from production to sales by making use of its knowledge of business development and local networks in Myanmar.

Toyota plans to construct the new TMY plant in the Thilawa Special Economic Zone, situated in the southern suburbs of Yangon city, the country's largest metropolis. Investment is expected to be approx. 52.6 million USD. Toyota plans to hire approx. 130 new employees, and intends to build approx. 2,500 Hilux vehicles per year by SKD (semi semi knock-down) method when operations begin in 2021.

Going forward, Toyota Tsusho will further promote the Toyota Brand by locally producing vehicles in Myanmar through the business activities of TMY and contribute to the economic development of the country.