The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed in October and November 2015 memorandums of understanding (MOUs)*1 with the State of Aguascalientes and the State of Jalisco, respectively, in the Federal Republic of Mexico (Mexico), and a total of 48 Japanese financial institutions*2 have now confirmed their participation in the support framework based on these MOUs. This is expected to provide Japanese mid-tier enterprises and small and medium-sized enterprises (SMEs) with effective access to support services in the states of Aguascalientes and Jalisco.
Mexico has a population of around 120 million, and it is highly rated as a prospective supply base for manufacturers that can make use of inexpensive labor and the local market's growth potential. The JBIC FY2015 Survey Report on Overseas Business Operations by Japanese Manufacturing Companies*3 ranked Mexico sixth for medium-term business prospects in 2015, while by industry Mexico is placed first in the automotive sector. Major Japanese automotive companies are already investing in Mexico, and other Japanese companies - including mid-tier enterprises and SMEs - are also expected to continue their deployment into the country.
In contrast, the majority of regional financial institutions in Japan, which have business relationships with mid-tier enterprises and SMEs, do not have a base in Mexico at present. This does not make it easy to provide mid-tier enterprises and SMEs with the necessary information to support their deployment into Mexico. The 48 Japanese financial institutions that have participated in the support framework will actively utilize the services of a Japan Desk (a desk providing services exclusively for Japanese companies), which is scheduled to be set up by the states, in order to support the deployment of mid-tier enterprises and SMEs into Mexico.
- *1See Press Releases on Octover 26 and November 11, 2015.
- *2 48 financial institutions below have confirmed their participation in the framework:
Sumitomo Mitsui Banking Corporation, Resona Bank, Limited, SAITAMA RESONA BANK, LTD., THE MICHINOKU BANK, LTD., THE AKITA BANK, LTD., THE HOKUTO BANK, LTD., THE SHONAI BANK, LTD., The Yamagata Bank, Ltd., The 77Bank, Ltd., The Gunma Bank, Ltd., The Ashikaga Bank, LTD., The Joyo Bank, Ltd., Tsukuba Bank, Ltd, The Musashino Bank, Ltd., THE CHIBA BANK, LTD., The Tokyo Tomin Bank, Limited, The Bank of Yokohama, Ltd., The Hachijuni Bank, Ltd., THE HOKURIKU BANK, LTD., The SHIZUOKA BANK, LTD, THE SHIMIZUBANK, LTD, The Ogaki Kyoritsu Bank, Ltd., The Juroku Bank, Ltd., THE MIE BANK, LTD., The Hyakugo Bank Ltd., THE SHIGA BANK, LTD., The Bank of Kyoto, Ltd., The Kinki Osaka Bank Ltd., The Senshu Ikeda Bank, Ltd., The Nanto Bank, Ltd., The San-in Godo Bank, Ltd., THE CHUGOKU BANK, LTD., THE HIROSHIMA BANK, LTD., The Hyakujushi Bank, Ltd., The Iyo Bank, Ltd., THE CHIKUHO BANK, LTD., The Eighteenth Bank, LTD., THE OITA BANK, LTD., The Tochigi Bank, Ltd, The Keiyo Bank, Ltd., THE HIGASHI-NIPPON BANK, LIMITED, THE TAIKO BANK, LTD., THE NAGANO BANK, LTD., The Aichi Bank, Ltd., THE BANK OF NAGOYA, LTD., THE TOKUSHIMA BANK LTD., THE KAGAWA BANK, LTD, and The Nagano-ken Shinkumi Bank
Note: in the order of the bank code in Japan
- *3See Press Release on December 3, 2015 for details.