Operational Results for Third Quarter of FY2013

The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) today released the operational results for the third quarter (October-December) of FY2013. A summary of the results is given below. See Appendix for a detailed breakdown of the figures by financial instrument.

Ⅰ.Loans, Guarantees and Equity Participations

1．Commitments
In the third quarter of FY2013, JBIC made 39 commitments in the overall amount of JPY397.1 billion in loans and guarantees and equity participations.

2．Disbursements, Repayments and Outstanding Amounts
Disbursements amounted to JPY477.5 billion, while repayments were JPY384.4 billion in the third quarter. As a result, outstanding loans and equity participations totaled JPY12,831.6 billion and outstanding guarantees were JPY2,435.3 billion, with the total outstanding amounts reaching JPY15,266.9 billion at the end of the second quarter.

Ⅱ.Operational Highlights

１．Operations in Development and Securement of Energy and Natural Resource

In supporting mineral resource development projects, JBIC provided a loan for the additional development of the San Cristóbal Zinc, Lead and Silver Mine in Bolivia developed and operated by a wholly-owned subsidiary of Sumitomo Corporation. JBIC also provided a loan to Marubeni Corporation and its subsidiary in Chile for the acquisition of interest and development of the Antucoya Copper Mine.

In its effort to secure a long and stable supply of LNG, JBIC provided loans to the two Bahamas companies where The Kansai Electric Power Co., Inc. and Mitsui O.S.K. Lines, Ltd. have equity stakes for procurement of two LNG tankers and also provided a loan in project financing to a wholly-owned Panamanian subsidiary of Kawasaki Kisen Kaisha, Ltd. for the procurement of an LNG tanker. These tankers are newly built by Japanese shipyards. In addition, JBIC provided a loan for the development of the Gorgon LNG project in Australia by Tokyo Gas Co., Ltd.

２．Operations for Maintaining and Improving the International Competitiveness of Japanese Industries

(1)Strategic Overseas Business Deployment of Japanese Companies

①Supporting Overseas Investments of Japanese Manufacturing Companies
JBIC supported by providing loans to Yokohama Rubber Company, Limited for the manufacturing and sales of passenger car tires in the Philippines; Marubeni-Itochu Steel Inc. for a coil center project in India; Meiko Electronics Co., Ltd. for the manufacturing and sales of printed circuit boards in Vietnam; and MOLITEC STEEL CO., LTD. for the manufacturing and sales of automobile parts in Mexico.

②Supporting Exports by Japanese Companies
JBIC supported Japanese companies by providing a buyer's credit to MOL Cape (Singapore) Pte. Ltd. in Singapore for the export of two bulk carriers to be built by Namura Shipbuilding Co., Ltd., and also offering an export credit line and a local buyer's credit line to Banque Marocaine du Commerce Extérieur in Morocco for supporting business expansion of Japanese companies in the African region.
　　

(2)Overseas Infrastructure Development by Japanese Companies

In infrastructure development, JBIC provided project financing for the Khanom 4 gas-fired combined cycle Power Generation Project in Thailand and for the Az-Zour North Power and Desalination Project in Kuwait. Further, JBIC provided a buyer's credit for the purchase of a set of machinery and equipment for power generation, including steam turbines and boilers, from Mitsubishi Heavy Industries, Ltd. for Saudi Electricity Company to build a supercritical pressure thermal power station.
In addition, JBIC signed a memorandum of understanding (MOU) with the Government of Myanmar on establishing a vehicle to promote private sector projects in the country, and plans to support the Japanese companies' participation in its projects from their early stages.

(3)Supporting Overseas Business Deployment of Mid-Tier Enterprises as well as Small and Medium Enterprises (SMEs)

JBIC supported Japanese SMEs by providing a total of 10 loans (including local currency loans) in the aggregate total of about JPY3,179 million for their overseas business deployment, which included for the manufacturing and sales of car accessories by a wholly-owned subsidiary of MIRAREED in China, and the manufacturing and sales of aluminum die-cast products for automobiles by a wholly-owned subsidiary of Tsuta Metals & Machinery Co., Ltd. in Thailand.
JBIC also signed general agreements with The Bank of Yokohama, Ltd. and The Chiba Bank, Ltd. respectively for offering credit lines. Further, a credit line was extended to SMFL Leasing (Thailand) Co., Ltd. (SMFLT), a Thai subsidiary of Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL), for supporting overseas business deployment of Japanese SMEs.

(4)Supporting with Local Currency Loans

JBIC supported BENDA KOGYO CO., LTD. and SAKAGUCHI SEISAKUSYO CO., LTD. for manufacturing and sales of auto parts and pressed parts respectively in the Kingdom of Thailand by providing Thai Baht loans.

　
(5)Supporting Samurai Bond Issuance

JBIC guaranteed Samurai bonds issued by the Development Bank of Mongolia in the Japanese bond market. This is the first guarantee JBIC provided for Samurai bonds issued by a Mongolian Institution.

３．Business Operations in the Environment Sector

JBIC contributed equity participation to the IFC Catalyst Fund (Japan), LP that invests mainly in renewable energy and energy efficiency projects under GREEN (Global action for Reconciling Economic growth and ENvironmental preservation) operation. This is a fund of funds jointly managed with the IFC Catalyst Fund, LP and IFC Catalyst Fund (UK), LP in which the International Finance Corporation (IFC), the Governments of the United Kingdom and Canada and other official institutions had participated with equity contribution.