Key facts
- Mitsubishi Corp. will invest approximately 120 billion yen ($765 million) in Ayala Corp.
- The investment will raise Mitsubishi's stake in Ayala Corp. to 20%.
- The deal expands an existing partnership between Mitsubishi and Ayala.
- The companies previously invested in GCash, a Philippine payments and finance app, through a joint venture.
Japanese trading house Mitsubishi Corp. is set to increase its investment in Philippine conglomerate Ayala Corp. by approximately 120 billion yen ($765 million). This strategic move is driven by forecasts of economic and population growth in the Southeast Asian nation. The expanded investment will raise Mitsubishi's stake in Ayala Corp. to 20%, solidifying a partnership that has already seen collaboration in the digital finance sector. The two companies previously invested in GCash, the largest payments and finance app in the Philippines, through a joint venture.