- Region: Latin America and the Caribbean
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
March 13, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement amounting up to USD8 million (JBIC portion) with HIRUTA MEXICO, S.A. DE C.V. (HMX), a Mexican subsidiary of HIRUTA KOGYO CO., LTD. (Hiruta Kogyo; Headquarters: Okayama Prefecture; Representative Director: Tetsushi Hiruta). The loan is cofinanced with The Hiroshima Bank Ltd., which brings the overall cofinancing amount to approximately USD38 million.
This loan is intended to finance the construction of manufacturing factory by HMX, a wholly owned subsidiary of Hiruta Kogyo, for manufacturing and sales of automobile parts such as chassis and transmissions related parts in the State of Guanajuato, Mexico.
Hiruta Kogyo is a small and medium-sized enterprise (SME) who manufactures and sells automobile parts. In Mexico, the demand for automobiles is anticipated to expand, backed by steady economic growth. Amid these circumstances, Hiruta Kogyo established HMX following major customers'overseas business deployment, and plans to expand its businesses in Mexico. This loan will contribute to the maintenance and improvement of the international competitiveness of Japanese industries, through supporting Hiruta Kogyo's overseas business deployment.
As Japan's policy-based financial institution, JBIC will continue to support overseas business development of Japanese companies, including mid-tier enterprises and SMEs, in growing markets such as Mexico, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.