- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
May 29, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a loan agreement totaling up to 4.8 million U.S. dollars (JBIC portion) with Kosei International Trade and Investment Co., Ltd. in Hong Kong, (KITI), a wholly-owned subsidiary of Kosei Aluminum Co., Ltd. (Kosei; Head office: Aichi Prefecture, President: Tetsuji Kamiya). The loan is cofinanced with a private financial institution.
- The loan is intended to finance, through KITI, KOSEI MINDA ALUMINUM CO., LTD. (KMA), Indian sub-subsidiary of Kosei, for manufacturing and selling auto parts.
- Kosei manufactures and sells primarily aluminum wheels for motorcycles and four-wheeled motor vehicles, as well as other aluminum products. Amid the prospect of increasing demand for aluminum wheels of motorcycles and four-wheeled motor vehicles in the Asian region, as its middle-income class is expected to expand along with economic growth in the coming years, Kosei established KMA in India, following Thailand, as its manufacturing and sales base of aluminum wheels. KMA intends to supply its products to the local Japanese auto-related companies. This loan will support Kosei in its overseas business operations, thereby contributing to maintaining and improving the international competitiveness of Japanese industries.
- JBIC will continue to support the overseas business deployment of Japanese companies, including mid-tier enterprises and small and medium-sized enterprises, in growing markets such as India, by drawing on its various financial facilities and schemes for structuring projects and performing its risk-assuming function.