- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
June 4, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a loan agreement totaling up to 100 million yen (JBIC portion) with Mitoyo Co., Ltd. (Mitoyo; Headquarters: Chuo-ku, Tokyo; President: Yoshio Goto). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd.
- The loan is intended to finance the manufacturing and sales of automobile rubber parts, such as rubber intake hoses, packing for oil filters, diaphragms, and O-rings, by MITOYO RUBBER (THAILAND) CO., LTD. (MRT), a subsidiary of Mitoyo in Thailand.
- Mitoyo established its sales base in 2004 in Thailand to capture brisk demand of the growing automobile manufacturing market there, and MRT in 2010 as a manufacturing base to supply automobile rubber parts to local subsidiaries of Japanese automobile manufacturers. Amid this, Mitoyo plans to further expand manufacturing and sales of automobile rubber parts through expansion of existing factories' production capacity, as the demand of rubber products for motorcycle and home appliances, in addition to automobile parts, is expected to grow, backed with steady economic growth of Thailand. Thus, this loan contributes to maintaining and improving the international competitiveness of Japanese industries, through supporting the overseas business deployment of Mitoyo.
- JBIC will continue to support overseas business deployment of Japanese companies, including mid-tier enterprises and small and medium-sized enterprises, in growing markets such as Thailand, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.