- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
February 4, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to THB15 million (Thai Baht; JBIC portion) with MANO Precision (Thailand) Co., Ltd. (MANO) in the Kingdom of Thailand, which is a subsidiary of MANO-SEIKO Co., Ltd. (MANO-SEIKO; Headquarters: Tokyo; President: Aiko Hayashi). This is the first loan cofinanced with The Tama Shinkin Bank with the overall cofinancing amount reaching THB65 million.
This loan is intended to finance, in local currency, the establishment of MANO for manufacturing and sales of precision machinery components (such as parts of trucks and metal parts for automobiles) located in Ayutthaya Province, about 60 kilometers from Bangkok.
Since starting business in 1948, MANO-SEIKO is a small and medium-sized enterprise (SME) engaged in manufacturing and sales of precision machinery components. With the prospect of increasing demand for auto parts and its other products going forward, the company established MANO in Thailand in May 2013 with an intention to expand its business in this country. This loan, which supports overseas business deployment of companies like MANO-SEIKO will contribute to the maintenance and improvement of the international competitiveness of Japanese industries.
As Japan's policy-based financial institution, JBIC will continue to support overseas business deployment of Japanese companies, including mid-tier enterprises and SMEs, in such growing market as Thailand, to meet the local currency needs by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function.