- Region: Latin America and the Caribbean
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
January 22, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today loan agreements totaling up to 60 million yen (JBIC portion; for equity participation) and 140 million yen (JBIC portion; for the loan from a parent to its subsidiary) with SHÓSHIBA MANUFACTURING COMPANY LTD. (SMC; Head Office: Tokyo, Representative Director: Yusuke Mihara). The loans are cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd., which will bring the overall cofinancing amounts to 100 million yen and 200 million yen respectively.
- These loans are intended to finance SHOSHIBA MEXICANA S.A. de C.V. (SSM), a wholly owned subsidiary of SMC in Mexico, for manufacturing and selling automobile and other parts.
- SMC manufactures and sells press-molded safety parts such as airbag cases and seat frames. Amid increasing demand for safety parts in proportion to growing automobile demand in the North American region, SMC established SSM and plans to manufacture and sell safety parts to local companies and subsidiaries of Japanese auto parts manufacturers in the region. These loans will support SMC in its overseas business deployment, thereby contributing to the maintaining and improving the international competitiveness of Japanese industries.
- JBIC will continue to support the overseas business deployment of Japanese companies, including mid-tier enterprises and SMEs, in growing markets such as Mexico, by drawing on its various financial facilities and schemes for structuring projects, and by performing its risk-assuming function.