- Region: Europe
- Manufacturing and Services
- Overseas Investment Loans
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The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed today a loan agreement amounting to JPY100 billion (JBIC portion) with the Yokohama Rubber Co., Ltd. (Yokohama Rubber). The loan is co-financed with private financial institutions*1, bringing the total co-financing amount to JPY314.7 billion.
The loan is intended to finance part of the funds necessary for Yokohama Rubber to acquire shares issued by Trelleborg Wheel Systems Holding AB (TWS) of the Kingdom of Sweden.
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The loan is intended to finance part of the funds necessary for Yokohama Rubber to acquire shares issued by Trelleborg Wheel Systems Holding AB (TWS) of the Kingdom of Sweden.
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TWS manufactures and sells off-highway tires*2 for agricultural and industrial machinery, etc. Through the acquisition of TWS, Yokohama Rubber aims to further grow its off-highway tire business by utilizing TWS’s off-highway tire manufacturing technology and sales networks in Europe. This loan supports the overseas business deployment of Yokohama Rubber, a Japanese company, by providing it with necessary long-term funds for M&A. Thereby, it will back up its overseas expansion of existing business, as well as new business deployment, and contribute toward 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 M&A activities of Japanese companies and their overseas business expansion in collaboration with private financial institutions.
Note
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Mizuho Bank, Ltd., the Bank of Yokohama, Ltd., the Norinchukin Bank, MUFG Bank, Ltd., Kanagawa Credit Federations of Agricultural Cooperatives, the Shizuoka Bank, Ltd., Sumitomo Mitsui Trust Bank, Limited, Hokkaido Credit Federations of Agricultural Cooperatives, the Hyakugo Bank, Ltd., Mie Credit Federations of Agricultural Cooperatives, the 77 Bank, Ltd., Mizuho Trust & Banking Co., Ltd., Ibaraki Credit Federations of Agricultural Cooperatives, the Joyo Bank, Ltd., Sumitomo Mitsui Banking Corporation, the Aomori Bank, Ltd., the Gunma Bank, Ltd., the Hachijuni Bank, Ltd., the Bank of Fukuoka, Ltd., the Hokuriku Bank, Ltd., and the Musashino Bank, Ltd.
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Tires used on agricultural, forestry, industrial, and construction machinery expansion in collaboration with private financial institutions.