- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
September 12, 2012
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed a loan agreement*1 totaling up to 97.9 million Thai baht (JBIC portion) with Juthawan Molitec (Thailand) Co., Ltd. (JWM) in Thailand, which is a subsidiary of MOLITEC STEEL CO., LTD. (MOLITEC). The loan is cofinanced with a private financial institution.
- This loan will provide finance for MOLITEC to enhance their production equipment in the existing JWM factory in Chonburi Province, Thailand where they manufacture automobile parts for Continuously Variable Transmissions (CVT), etc., to be sold in third countries and in Thailand, in response to the growing demand for automobiles in emerging countries. The loan will contribute to maintaining and improving the international competitiveness of the Japanese automobile parts industry.
- This loan will support the overseas business deployment of these Japanese companies, and correspond to one of the priority issues in supporting the enhancement of the international competitiveness of Japanese companies' "strategic use of the finance functions in local currencies" of the "Financial Strategy" in the "Rebirth of Japan: A Comprehensive Strategy" decided by the Japanese Cabinet on July 31, 2012.
- 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 by performing its risk-assuming functions.
- *1 The agreement was concluded on September 10, 2012 and the press release was issued today, as the related procedures of relevant parties have been completed.