Loan for Refrigerated Warehouse Business of Japanese Company in Vietnam
Supporting Overseas Business Deployment of Mid-Tier Enterprises and SMEs
- Area: Asia
- Machinery and Equipment
- Mid-Tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement amounting USD9,100 thousand (JBIC portion) with RYOBI HOLDINGS Co., Ltd. (RYOBI HD; Headquarters: Okayama prefecture; Chairman and CEO: Mitsunobu Kojima). The loan is cofinanced with Sumitomo Mitsui Banking Corporation, bringing the total cofinancing amount to approximately USD13,000 thousand.
This loan is intended to finance the refrigerated warehouse business conducted by Ryobi (Vietnam) Distribution Service Company Limited (RDSC), a Vietnamese subsidiary of RYOBI HD, in an industrial park in Ho Chi Minh City.
RYOBI HD, a company which has developed a business spanning a wide-range of sectors, including logistics and tourism, established RDSC in February 2015 in Vietnam, where Japanese department stores continue to open new branches amid steady economic growth. RYOBI HD seeks to gain market share in the refrigerated warehouse business by providing a high-quality cold chain service which is indispensable for the distribution and sale of fresh food products, including Japanese food, in Vietnam.
Through such support of RYOBI HD’s overseas business deployment, the loan contributes to maintaining and strengthening the international competitiveness of Japanese industries. Furthermore, the support of the project is also in line with the Japanese government’s strategy of promoting Japanese involvement in projects including the design, construction, operation, and management of infrastructure, as it contributes to establishing a high-quality food logistics system which leverages the strengths of Japanese technologies and is also expected to popularize Japanese food and culture in Vietnam.
As Japan's policy-based financial institution, JBIC will continue to support the overseas business deployment of Japanese companies, including mid-tier enterprises and SMEs, in growing markets such as Vietnam, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.