Business / Corporate

JR West to invest in railway businesses in Brazil

Kyodo

West Japan Railway Co. has announced that it will invest in railway businesses in Brazil.

The company, commonly known as JR West, will acquire a 33.9 percent stake in Guarana Urban Mobility Inc., a subsidiary of Japanese trading house Mitsui & Co. that invests in passenger railway businesses in Rio de Janeiro and elsewhere in Brazil. JR West did not disclose how much it will pay for the stake.

Public-private fund Japan Overseas Infrastructure Investment Corp. for Transport and Urban Development will also join the group and obtain a 16.0 percent stake in Guarana Urban Mobility for around ¥5.6 billion ($45.6 million), the fund said.

The move comes amid a government push to export Japanese infrastructure technology, from high-speed railways to nuclear power plants, to emerging economies.