- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
January 22, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to JPY700 million (JBIC portion) with KEYLEX CORPORATION (KEYLEX; Headquarters: Hiroshima Prefecture; President: Yasuhiro Seto). The loan is cofinanced with The Hiroshima Bank Ltd., which brings the overall cofinancing amount to JPY1.2 billion.
This loan is intended to finance the establishment of Summit Keylex (Thailand) Co., Ltd. (SKT), which will manufacture and sell automobile parts such as automobile body parts and components, by KEYLEX contributing more than half of SKT's total equity, located in Rayong Province, the central region of Thailand.
KEYLEX is a small and medium-sized enterprise (SME) manufacturing and selling automobile body parts and components. Given the prospect of growing demand for automobiles in Thailand over the coming years with the steady economic growth, the company established SKT in February 2013 and intends to expand its business in Thailand. The loan will thus contribute to maintaining and improving of the international competitiveness of Japanese industries by supporting overseas business deployment of KEYLEX.
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 Thailand, by drawing on its various financial facilities and schemes for structuring projects and performing its risk-assuming function, which includes loans.