- Region: Latin America and the Caribbean
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
May 15, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a loan agreement totaling up to 700 thousand U.S. dollars (JBIC portion) with SATAKE AMERICA LATINA LTDA. (SAL), a wholly owned subsidiary in the Federal Republic of Brazil by SATAKE CORPORATION (SATAKE; Chairperson and CEO: Toshiko Satake), a small and medium-sized enterprise in Higashihiroshima City, Hiroshima Prefecture. The loan is cofinanced with Banco de Tokyo-Mitsubishi UFJ Brasil S/A, which brings the overall cofinancing amount to 1,000 thousand U.S. dollars.
- This loan is intended to finance the expansion of the manufacturing and sales of grain processing machinery by SAL, which plans to sell more of its products in Brazil and its neighboring countries.
- SATAKE has been manufacturing and selling grain processing machinery since its inception in 1896. In 1999, it established SAL in Brazil to manufacture and sell grain processing machinery in Brazil and neighboring countries. Amid the expectation that the grain processing machinery market will expand with steady economic growth of South American countries including Brazil, SATAKE plans to expand its business in the South American region through SAL. Thus, this loan contributes to maintaining and improving the international competitiveness of Japanese industries, through supporting SATAKE's overseas business deployment.
- JBIC will continue to support overseas business deployment of Japanese companies, including mid-tier enterprises and small and medium-sized enterprises, by drawing on its various financial facilities and schemes for structuring projects, and by performing its risk-assuming function.