Sojitz Corporation (“Sojitz”) together with Drako Capital de Mexico, S.A. de C.V. (Head Office: Mexico) has established SOCAFI, S.A. de C.V. (Head Office: Mexico; “SOCAFI”) in the United Mexican States (“Mexico”) succeeding the business of major Autofinancimiento company Auto Financiamiento Automotriz S.A. de C.V. (Head Office: Mexico; “AFASA”), which uses a self-financing system (“SFS”). SOCAFI will continue to provide the AFASA brand’s services.

Partnering with authorized dealers of Volkswagen and SEAT vehicles—the brands boasting a high market share in Mexico—the AFASA service provides opportunities through SFS for consumers who cannot enjoy loans to purchase a new vehicle. In recent years, new-vehicle sales in Mexico have reached 1.5 million vehicles per year. At the same time, 60% of laborers in Mexico currently do not possess a bank account. In this climate, there is a steady demand for purchasing cars through SFS, and demand for the service is also expected to demonstrate steady growth in the future.

Sojitz has many years of experience selling automobiles in countries worldwide and possesses experience in the auto financing business, particularly through its auto financing operations in Japan which provide vehicles using fintech services to consumers who are unable to receive a standard auto loan. Going forward, Sojitz will contribute through this new company to realizing a prosperous mobility society in Mexico.
*In June 2019, Sojitz entered the auto financing business using fintech services in Aichi Prefectures.
(Press release on June 18th, 2019)

Related Information:

Company Overview - SOCAFI, S.A. de C.V.

Established	2019
Location	2 de Abril 60, Actipan, Benito Juarez, Ciudad de Maxico, C.P. 03230
Ownership	Sojitz Corporation：90%, DRAKO：10%
Representative Director	Wataru Takaoka
Main Business	Autofinancimiento business

Company Overview - Drako Capital de Mexico, S.A. de C.V.

Established	2012
Location	Paseo de Hacienda de Echegaray, Bosque de Echegaray, Nucalpan de Juarez, Estado de Mexico, C.P. 53310
Representative Director	Fabian F. Uribe
Main Business	Investment business

Company Overview – Auto Finaciamiento Automotriz, S.A. de C.V.

Established	1980
Location	2 de Abril 60, Actipan, Benito Juarez, Ciudad de Maxico, C.P. 03230
Representative Director	Fabian F. Uribe
Main Business	Autofinancimiento business