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Isuzu

Isuzu

Industry: 
Automotive
Value of USG Contracts: 
31
Symbol: 
TYO:7202
States: 
CA
Country: 
Japan
Sources: 

 

“Isuzu Motors Ltd is considering expanding its business in Iran following the recent removal of the Japanese government’s economic sanctions on Tehran, a company official said Monday. The Japanese commercial vehicle maker is apparently aiming to increase exports of parts for light-duty trucks while watching the economic situation in Iran, Japan’s Jiji Press reported. Currently, a local company in Iran assembles such trucks using parts shipped from Isuzu and sells them in the country. When the economic sanctions were in place, the period for parts shipments had been limited. At a press conference, Isuzu Managing Executive Officer Makoto Kawahara said, “We will work on expanding our operations in Iran even more actively once the economic sanctions are fully removed.” (Bernama, “Japan’s Isuzu mulling biz expansion in Iran,” 2/10/2016)

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"Isuzu Motors plans to resume exports of light trucks and other models to Iran once [sanctions are lifted]." (Nikkei, “Japanese automakers readying to renew exports to Iran,” 10/10/2015)

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"Isuzu uses the Bahman Group as its distributor in Iran, according to Isuzu's Web site. The Sepah Cooperative Foundation, a large investment fund closely linked to the Iranian Revolutionary Guard Corps (IRGC), owns a 45 percent share of the Bahman Group, according to Iranian newspaper reports. (Among the links between the Sepah Cooperative Foundation and the IRGC: the general manager of the the Sepah Cooperative until this fall was IRGC commander Ahmad Vahid-Dastjerdi. Another former notable head of the Sepah Cooperative Foundation was Mohsen Rafiqdoost, who helped found the IRGC. The Sepah Cooperative Foundation's stake in the Bahman Group has also been reported by Rand Corporation, in a 2009 report prepared for the Office of the Secretary of Defense, as well as the think tanks the Washington Institute, and the Council on Foreign Relations reports.) Isuzu spokesman Kouichi Itou said in a statement that the company was not aware of those links and believed that a 'Retirement Insurance Organization' was a 45 percent shareholder in Bahman."
 
From 2000 through March 2010, Isuzu has been the recipient of $1.9 million in U.S. federal funds. (The New York Times, "Profiting from Iran, and the U.S.", 3/6/10)