Loan for Fishing Tackle Manufacturing and Sales Business of Japanese Company in the Philippines
Supporting Overseas Business Deployment of Mid-Tier Enterprises and SMEs
- Area: Asia
- Manufacturing and Services
- 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 up to USD420 thousand (JBIC portion) with Day 1 Craft Philippines Inc. (DCP), a Philippine subsidiary of MARUYONE CO., LTD. (Headquarters: Osaka; President: Masako Yoneda). The loan is cofinanced with Resona Bank, Limited and Rizal Commercial Banking Corporation, bringing the total cofinancing amount to USD600 thousand.
This loan is intended to finance the fishing tackle manufacturing and sales business conducted by DCP in the Province of Laguna, the Philippines. The funds will be used to expand its plant facilities.
MARUYONE CO., LTD. is not only engaged in the build-to-order manufacturing as an original equipment manufacturer (OEM), but also in the development and sales of its original brand of products, such as KANJI, and the company has recently been exporting to countries including the U.S., Australia, and New Zealand. By enhancing DCP's production capacity, MARUYONE CO., LTD. seeks to expand its business for the Southeast Asian market. Through the support of such overseas business deployment of MARUYONE CO., LTD., this financing will contribute to maintaining and strengthening the international competitiveness of Japanese industries.
As Japan's policy-based financial institution, JBIC will continue to support the overseas business deployment of Japanese companies, including mid-tier enterprises and small and medium-sized enterprises (SMEs), in growing markets such as the Philippines, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.