- 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 THB25 million (Thai Baht; JBIC portion) with YOKOYAMA KOGYO (THAILAND) CO., LTD. (YKT) in the Kingdom of Thailand, which is a subsidiary of YOKOYAMA KOGYO Co., LTD. (YOKOYAMA KOGYO; Headquarters: Aichi Prefecture; President: Masahisa Yokoyama). The loan is cofinanced with a private financial institution.
This loan is intended to finance, in local currency, the expansion of a building and additional installation of machinery for manufacturing seat parts for automobiles in a plant located in Rayong Province, the central region of Thailand.
Since starting business in 1951, YOKOYAMA KOGYO is a small and medium-sized enterprise (SME) engaged in manufacturing and sales of automotive seat parts, among others. The company particularly has strength in metal stamping and welding processes, supplying its products primarily to the Tier 1 suppliers in the automobile industry. In December 2010, YOKOYAMA KOGYO established YKT as its first overseas manufacturing base with the prospect of increasing demand for automobiles and automobile-related industry in Thailand registering stable economic growth. The company is keen to expand business in Thailand with this additional investment. This loan, which supports overseas business deployment of companies like YOKOYAMA KOGYO, 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 growing markets such 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.