- Region: Latin America and the Caribbean
- Manufacturing and Services
- Overseas Investment Loans
March 29, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a loan agreement with Mazda Motor Manufacturing de Mexico S.A. de C.V. (MMMdM), which is a Mexican subsidiary of Mazda Motor Corporation (Mazda). The loan is cofinanced with private financial institutions.
- The loan will finance MMMdM, in which Mazda has a 70% equity stake and Sumitomo Corporation has a 30% equity stake, for manufacturing and selling automobiles in Salamanca City, Guanajuato State, Mexico.
- In Mexico, the country vigorously pressing ahead with the conclusion of Free Trade Agreements (FTAs) with a number of countries, Mazda established MMMdM as a production site to assemble cars1 for important automobile markets in North and Latin America. And thereby, the company intends to strengthen overseas operations by bolstering a global production network, which includes increasing the local production ratio. This loan will support maintaining and improving the international competitiveness of Japanese industries through support for the overseas business expansion of Mazda.
- JBIC will continue to support the overseas business deployment of Japanese companies by drawing on its various financial facilities and schemes for structuring projects and performing its risk-assuming function.
- *1 MMdM plans to produce “Mazda2” (Japanese brand name: Mazda Demio),”Mazda3” (Japanese brand name: Mazda Axela) and other vehicles.