- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
March 28, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement amounting up to THB45 million*1 (JBIC portion) with Siam Toyodensan Co., Ltd. (STD), a subsidiary of Toyodensan Co., Ltd. (Toyodensan; Headquarters: Shizuoka Prefecture; Representative Director and President: Koichiro Sugimura). The loan is cofinanced with a private financial institution, with the overall cofinancing amount adding up to about THB64 million of JPY equivalent.
This loan is intended to finance necessary funds in local currency for the expansion of a plant for manufacturing and sales of aluminum castings in Samutprakarn province, central Thailand, by STD, a wholly owned subsidiary of Toyodensan.
Toyodensan is a small and medium-sized enterprise (SME) engaging in manufacturing and sales of aluminum castings since its foundation in 1951, and established STD in Thailand in January 2005. Given the prospect of increasing demand for automobiles parts in Thailand backed by economic growth, Toyodensan intends to further expand its business in Thailand through the increase of STD's production capacity. This loan will support the overseas business expansion of STD and thereby contribute to maintaining and strengthening 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, by drawing on its various financial facilities and schemes, including loans to meet the needs of local currency funds, for structuring projects, and performing its risk-assuming function.