Loan for Medical Device 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 in the amount of USD426 thousand (JBIC portion) with Tokai Medical Products, Inc. (Tokai Medical; Headquarters: Aichi Prefecture; President: Yasuhiro Tsutsui). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd.
This loan is intended to finance the medical device manufacturing and sales business of Tokai Medical's Philippine subsidiary, TOKAI MEDICAL PRODUCTS PHILIPPINES INC. (TMPPI), in the Province of Batangas.
Tokai Medical is a small and medium-sized enterprise (SME) which manufactures and sells medical devices. In October 2014, given growing demand in North America, Europe, and the ASEAN region, Tokai Medical established TMPPI in the Philippines, which has geographical advantages as a production base. The company seeks to secure stable supplies and expand its overseas sales channels through TMPPI's local production. Through the support of such overseas business deployment of Tokai Medical, this financing will contribute to maintaining and strengthening the international competitiveness of Japanese industries. The loan is also in line with the "Healthcare and Medical Strategy"(endorsed by the Cabinet on July 22, 2014), as well as the "Infrastructure Export Strategy" (revised in FY2015), both of which are designed to promote the global expansion of Japanese medical technologies.
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, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.