Media release: Clayton Utz advises Toyota Tsusho on strategic acquisition in Australia's used car market

MCT Automotive Group is a leading player in Australia's used car purchasing and sales market.  It has expanded its business since its establishment in 2019 by developing an online used car purchasing business across Australia including its Cars4Us website.  This transaction will enhance Toyota Tsusho Corporation's strategic focus on the mobility value chain business outside Japan.

Clayton Utz's team was led by partner Hiroyuki Kano, with support from special counsel Clayton Barrett and Shigeki Yamaura, and lawyers Yuki Sugawa, Natalie Harawira and Shuhei Soga.

Commenting on the transaction, Hiroyuki said:

We are delighted to have supported Toyota Tsusho Corporation on this significant acquisition.  Continued growth is expected in Australia's used car market, with the high rate of car ownership coupled with steady population growth driving demand.  We believe this transaction will position Toyota Tsusho to capitalise on that trend.