- Region: Latin America and the Caribbean
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
March 31, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to USD2.914 million (JBIC portion) with SIIX Corporation (SIIX; head office: Osaka Prefecture; President: Yoshihito Kikyo). The loan is cofinanced with Sumitomo Mitsui Banking Corporation, with the overall cofinancing amount adding up to the equivalent of about USD4.914 million.
This loan is intended to finance SIIX, through its wholly owned U.S. subsidiary, for establishing SIIX EMS MEXICO S de RL de C.V. (SEM) to conduct electronic parts mounting and assembly, and processing of equipment and parts in Mexico.
SIIX is a trailblazer in electronics manufacturing services (EMS), Japan's top and the 12th world largest EMS in term of sales, based on its experience of abundant foreign businesses of electronics parts and devices since its predecessor, the trading division of SAKATA INX CORPORATION. Now, SIIX sets up SEM as the export base to North America markets, an important market for major Japanese automobile manufactures, and plans to further expand into the markets in Central and South America, including Mexico, where economic growth is expected. The loan will support overseas business deployment of SIIX 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 the overseas business deployment of Japanese companies, including mid-tier enterprises and small and medium-sized enterprises (SMEs), in the markets of the Americas given the prospect of the region's future economic growth, by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function.