Mitsubishi Motors Finance Philippines launches joint venture with Security Bank
Mitsubishi Motors Corporation has taken a significant step in its strategic expansion within the ASEAN region by launching Mitsubishi Motors Finance Philippines (MMFP). This new venture, a collaboration with Security Bank Corporation, aims to make vehicle ownership more accessible to Filipinos through innovative financial solutions. The announcement was made at a press conference featuring key figures from both companies .
Takao Kato, the President and CEO of Mitsubishi Motors Corporation, emphasized the importance of the Philippines in the company’s growth strategy. “Today, we are taking another important step forward,” he stated. “Under our midterm plan, Challenge 2025, ASEAN is a key growth driver, and the Philippines is one of the most important countries for us. The launch of MMFP reflects our strategic focus on this country, allocating significant efforts and resources to accelerate both sales and profitability.”
Mitsubishi Motors has a long-standing history in the Philippines, having operated in the market for over 60 years. The company is well-known for its iconic L300 model, which has become a staple in the country. Kato fondly recalled his involvement in the launch of the L300 production line nearly 40 years ago, highlighting the deep connection between Mitsubishi Motors and the Filipino people.
Sanjiv Vohra, President and CEO of Security Bank Corporation, expressed his enthusiasm for the joint venture. “For millions of Filipinos, owning a dependable vehicle is about so much more than convenience. It represents opportunity, access to work, education, and connection with loved ones,” he said. “By uniting Mitsubishi Motors’ legacy of craftsmanship and innovation with Security Bank’s expertise in financial solutions, we are poised to deliver financing programs that are not only accessible and fair but truly centered around the needs of everyday Filipinos.”
Satoshi Nakano, the newly-appointed President and CEO of MMFP, shared his vision for the company. “Today, we make a major milestone as Mitsubishi Motors Finance Philippines officially launches,” he announced. “By establishing MMFP, Mitsubishi Motors deepens its long-standing commitment to grow with the Philippine market. Through MMFP, we will make sure that more and more Filipinos get life-changing opportunities that mobility can offer.”
MMFP will serve all Mitsubishi Motors dealers nationwide, providing customers with seamless access to quality vehicles and tailored financing solutions. The company plans to offer a range of financial products under the brand name Mitsubishi Motors Finance powered by Security Bank. These offerings will include faster application approvals, flexible payment options, and exceptional customer care.
The launch of MMFP marks a new era of mobility in the Philippines, driven by a partnership that combines Mitsubishi Motors’ strong market presence with Security Bank’s financial expertise. As Mr. Kato concluded, “While MMFP is just beginning, I truly believe that in the years to come, it’ll become a key pillar of our business here in the Philippines. Let us move forward together with trust, passion, and a shared commitment to the future.”
With this new venture, Mitsubishi Motors and Security Bank say they are set to empower more Filipinos to drive their ambition, fostering growth and progress across the nation.
