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.