Insurance provider Marubeni of Japan and CT Corp have signed a memorandum of understanding for a strategic partnership in the Indonesian market.
The companies aim to explore joint ventures, personnel exchanges and human resources training programs to foster knowledge sharing between the two firms.
Marubeni and CT Corp began their business relationship in 2012, when the former invested in the latter’s motorcycle sales financing subsidiary.
In order to reinforce its overseas strategy, Marubeni implemented its new mid-term management plan, targeting ASEAN countries. The Southeast Asian region has a burgeoning middle class, making it an attractive market for expansion.
Meanwhile, CT Corp is a leading Indonesian conglomerate engaged in a range of business sectors including financing services, retail, media, lifestyle, and plantations. Mid-term domestic demand is expected to grow in Indonesia, a country with a population of 250 million.
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