Toyota Tsusho Corporation ("Toyota Tsusho") announced today that it invested in PURDY MOTOR S.A. ("PM"), the Toyota and Lexus distributor in Costa Rica and acquired 10% of the company's shares, on 27 April, 2021. This is the first investment in an automotive distributor in Costa Rica by a Japanese company.

Since the abolition of the Army in 1948, Costa Rica is known for being a very stable, democratic, and environmentally friendly country that dedicates a high portion of its GDP to human capital development. Around 98% of the electricity proceeds from renewable sources and was the first Latin American country to develop a hydrogen station. Moreover, Costa Rica’s per capita GDP exceeds 12,000 U.S. dollars, and demand for new vehicles is stable. Toyota´s share in the country is about 18%, the largest player in the automotive sector.

Since its establishment in 1957, PM has been steadily growing, centered on sales of Toyota vehicles. At present, in addition to distributing Toyota and Lexus vehicles, it engages in the distribution of Hino and Subaru vehicles as well and has become one of the largest automotive distributors in Costa Rica. PM also engages in a wide range of value chain businesses in the automotive sector through its subsidiaries and affiliates, including sales financing, after-sales services, insurance, used car sales, and next-generation mobility-related businesses (car sharing and shuttle bus operation).

Toyota Tsusho exports vehicles produced in Japan, mainly those produced by Toyota Group companies, to various countries across the world and exports vehicles produced overseas to third countries. Its network, including distributor and dealer business operation, extends to 146 countries around the world, and it has developed business on its own in 45 of those countries. Toyota Tsusho will seek further enhancement of the value of the Toyota and Lexus brands in Costa Rica by leveraging the management know-how it has acquired through global expansion and by promoting sales and service businesses suited to the Toyota brand.

In addition to expanding existing businesses, Toyota Tsusho will also try to create new mobility services leading to solutions to social issues and undertake environmental business which Costa Rica promoting, such as the spread of fuel cell vehicles, recycling of automobile part and so on by combining its knowledge of multilateral businesses with PM’s automotive business assets.

Toyota Tsusho will contribute to the development of the mobility society and economy in Costa Rica through its business.