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Toyota Financial Services to expand operations in major metros in FY13

Toyota Financial Services, which does retail financing in the initial phase, will also enter into inventory finance for dealers and pre-owned car segment in the near future

Mumbai: Toyota Financial Services Corp, the vehicle financing arm of Toyota, is planning to expand its presence in major metro centres of the country by the end of this fiscal after launching its operations in Bangalore and National Capital Region (NCR) region, reports PTI quoting a top company official.

 

The captive vehicle financing arm of the Japanese motors, which is registered as an NBFC with RBI, also said that it would open its operation in Mumbai and Pune shortly.

 

"We are planning to increase our presence in major metro cities by the end of this fiscal and will begin our operation in Mumbai and Pune shortly," Managing Director and Chief Executive Officer of Toyota Financial Services, Kazuki Ogura told PTI here.

 

He also said the initial investment of Rs260 crore is enough for the company's lending operation as of now and will require capital as it grows.

 

"Presently, we have enough capital. As we grow, we will require capital, which will be arranged from bank credit and capital market," Ogura said.

 

He also added that the company would attain breakeven in next few years without giving a timeline.

 

Toyota Financial Services, which does retail financing in the initial phase, will also enter into inventory finance for dealers and pre-owned car segment in the near future.

 

"We see opportunity in inventory finance for dealers and pre-owned car segment, which we will enter in the future," Ogura said.

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Essar Oil, Cafe Coffee Day in marketing tie-up

Cafe Coffee Day has opened its first outlet under the tie-up at Essar's petrol pump on the Pune-Ahmednagar highway

Mumbai: In an attempt to increase its non-fuel revenues, private sector refiner Essar Oil on Thursday said it has tied up with coffee chain Cafe Coffee Day (CCD), reports PTI.

 

"Non-fuel business is a strategic business for Essar Oil and we expect it to contribute significantly to the company's growth in the coming few years. Our tie-up with Cafe Coffee Day is part of this strategy and it also results in effective use of available land in a retail outlet's premises, thus leveraging on the available resources to a maximum level," Essar Oil Marketing CEO S Thangapandian said in a statement.

 

Cafe Coffee Day has opened it first outlet under the tie-up at Essar's petrol pump on the Pune-Ahmednagar highway.

 

"We have shortlisted several more EOL outlets to set up our signature cafes," Cafe Coffee Day Marketing President K Ramakrishnan said.

 

Essar Oil with its 1,400 retail network, has existing tie-ups with around 23 brands across segments like lubricants, agro products, banking and financial services and food and beverage companies.

 

Cafe Coffee Day currently operates 1,100 outlets across the country in three formats-- lounges, cafes and kiosks and plans to have 2,000 outlets by 2014.

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