TOKYO - TOYOTA Motor Corp's financial unit has asked the state-backed Japan Bank for International Cooperation (JBIC) for a loan, the company said on Tuesday, with a report putting the sum at US$2 billion (S$3.1 billion).

'We are consulting with the JBIC about borrowing money, but the amount has yet to be settled,' Toyota Financial Services official Mio Sugito told AFP.

'The move is aimed at diversifying our financial resources as the international financial market is getting tighter, especially in the United States,' Mr Sugito said.

The Jiji Press news agency reported that Toyota's wholly-owned financial subsidiary is asking for about 200 billion yen (S$3.1 billion), without citing sources.

If the loan is realised, it will be the JBIC's first to a Japanese automaker, Jiji Press said. -- AFP