Aston Martin unveils £500m trade deal with Japan

 
Helen Cahill
Follow Helen
Henley Regatta 2017 In Detail
Source: Getty

Aston Martin today unveiled £500m worth of trade with Japan as it joined Prime Minister Theresa May on her trade mission to the country.

As part of the five-year deal, the James Bond carmarker will be exporting £400m worth of its goods, and will invest more than £70m in components from Japanese suppliers such as Mitsubishi.

Read more: Aston Martin revs up forecasts for the second time this year

Aston Martin will also set up new offices and a new dealership in Tokyo, which chief executive Andy Palmer said would be the largest global dealership by volume.

May said: "As we prepare to leave the European Union, it is vital that we build on our existing ties with friends and allies.

"Aston Martin is a prime example of the innovative and world-leading firms the UK is proud of and I'm delighted they are joining me on this important trade mission."

The news comes after Aston Martin announced a pre-tax profit £21.1m for the six months to 30 June, which was up from a loss of £82.3m during the same period a year before. It was the third quarter of profit in a row for the firm.

Palmer said the figures showed the "rising demand for our new and special products".

Related articles