- Region: Asia
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
May 15, 2014
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The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to USD500 thousand (JBIC portion) with PT. Asahi Best Base Indonesia (ABBI), an Indonesian subsidiary of Asahi Tsushin Co., Ltd. (Asahi Tsushin; Headquarters: Fukushima Prefecture; President: Takanobu Kanno). This is the first loan provided by JBIC in cofinancing with THE TOHO BANK, LTD.
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The loan is intended to finance the expansion of wire harness production facilities of ABBI, a subsidiary of Asahi Tsushin, at Bekasi in the western part of Java Island.
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Since its establishment in 1969, Asahi Tsushin has been manufacturing and selling wire harnesses, and, in January 1995, it established ABBI in Indonesia. Given the prospect of increasing demand of motorcycle parts and other products backed by the country's economic growth, Asahi Tsushin plans to further expand its business in Indonesia by strengthening production facilities of ABBI to meet the needs of its main clients. This loan will support the overseas business deployment of Asahi Tsushin and thereby contribute to maintaining and strengthening the international competitiveness of Japanese industries.
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As Japan's policy-based financial institution, JBIC will continue to support overseas business deployment of Japanese companies, including mid-tier enterprises and small and medium-sized enterprises (SMEs) in growing markets such as Indonesia, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.