- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
January 27, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement amounting up to USD7 million (JBIC portion) with Daiki Aluminum Co., Ltd. (Daiki Alumi; Headquarters: Osaka; President: Takaaki Yamamoto). The loan is cofinanced with Sumitomo Mitsui Banking Corporation, which will bring the overall cofinancing amounts to USD10 million.
This loan is intended to finance the manufacturing and sales of secondary aluminum alloy ingots by PT. DAIKI ALUMINUM INDUSTRY INDONESIA (DAI), an Indonesian subsidiary of Daiki Alumi.
Daiki Alumi is a well-established mid-tier enterprise founded in 1922 and, as a pioneer of the secondary aluminum alloy ingots maker, has been maintaining a top share in the domestic market firmly for many years. The company intends to expand the market share through strengthening of manufacturing and sales capacity of DAI, which was established in 2010, in Indonesia where the demand for the products from automobile and related industries is expected to grow. The loan will thus contribute to maintaining and improving the Japanese industries' international competitiveness by supporting overseas business deployment of Daiki Alumi.
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 performing its risk-assuming function.