- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
March 30, 2012
- The Japan Bank for International Cooperation (JBIC; President&CEO: Hiroshi Watanabe)*1signed today a loan agreement of 40 million yen (JBIC portion) with Matsumoto Industry Co., Ltd, (Matsumoto Kogyo; Representative Director: Shigeki Matsumoto) which is an SME in Kitakyushu City, Fukuoka Prefecture. The loan is the first cofinancing with The Bank of Fukuoka., Ltd. (The Bank of Fukuoka; President and Director: Masaaki Tani) under the business cooperation agreement (the"Cooperation Agreement") signed between JBIC and The Bank of Fukuoka in August, 2011 for a local SME, and the total amount of the cofinancing is 80 million yen.
- The financed project is the first overseas operation for Matsumoto Kogyo which established Hubei Matsumoto Auto Parts Co., Ltd. (Hubei Matsumoto) in Xiangyang, Hubei, the People's Republic of China where they will produce sheet components of automobiles. JBIC will cooperate and collaborate with The Bank of Fukuoka which is a main financing bank of Matsumoto Kogyo to support a part of business funds for Hubei Matsumoto.
- Also JBIC and The Bank of Fukuoka have been sharing information and opinions about overseas business deployment support which The Bank of Fukuoka provides for SMEs in the Kitakyushu region who hold value added techniques and products, etc, and JBIC's information for the overseas investment environment based on the Cooperation Agreement. The cofinancing was materialized as a result of such cooperation. In recent years, in order to realize the benefits of overseas growth, the number of SMEs considering overseas business deployment has been growing in Japan. JBIC will continue to support the overseas business deployment of SMEs with collaborating Japanese local financial institutions in the light of maintaining and improving international competitiveness of Japanese industries.