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The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on February 13 a loan agreement amounting to up to approximately EUR19 million (JBIC portion) with Nippon Paper Chemicals Europe Zrt. (NPCE), the Hungarian subsidiary of Nippon Paper Industries Co., Ltd. (Nippon Paper Industries). The loan is co-financed with Mizuho Bank, Ltd., bringing the total co-financing amount to EUR32 million.
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The loan is intended to provide funds for NPCE to manufacture and sell carboxymethyl cellulose for lithium-ion batteries
*1 in Hungary.
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In its Medium-term Business Plan 2025, Nippon Paper Industries states its intention to improve its manufacturing capabilities of carboxymethyl cellulose for lithium-ion batteries and expand in overseas markets. Amidst this backdrop, the demand for carboxymethyl cellulose for lithium-ion batteries is expected to grow in Europe along with the increasing sales of electric vehicles, and Nippon Paper Industries plans to establish a manufacturing base in Europe to capture such growing demand. The loan will support Nippon Paper Industries' overseas business expansion, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
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As Japan's policy-based financial institution, JBIC will continue to provide financial support to assist Japanese companies in the overseas expansion of their businesses by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function.
