- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
January 17, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement amounting up to JPY50 million (JBIC portion) with DAIKI SHOKAI CO., LTD. (DAIKI SHOKAI; Headquarters: Osaka; President: Hirokazu Kanagawa). The loan is cofinanced with The Hyakujushi Bank, Ltd., which will bring the overall cofinancing amounts to JPY100 million.
This loan is intended to finance the manufacturing and sales of sports caps by PT. HINI DAIKI INDONESIA (PHDI), an Indonesian subsidiary of DAIKI SHOKAI, in Tasikmalaya, South-eastern West Java, Indonesia.
DAIKI SHOKAI has been manufacturing and selling caps such as sports caps since its foundation in 1972, and established PHDI in Indonesia in 1989. Given the prospect of the growing sports-wear market, including sports caps, backed with the steady economic growth in Indonesia, the company intends to expand the manufacturing and sales of sports caps to meet the needs of its major business customers. The products will be sold to Japanese sports-wear manufacturers, mainly in Indonesia. The loan will thus contribute to the maintenance and improvement of Japanese industries'international competitiveness by supporting overseas business deployment of DAIKI SHOKAI.
As Japan's policy-based financial institution, JBIC will continue to support overseas business deployment of Japanese companies, including mid-tier enterprises and small and medium-sized enterprises in such growing markets as Indonesia, by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function.