- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
June 21, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a loan agreement totaling up to 30 million yen (JBIC portion) with PT. KOTERA INDONESIA (PTKI), an Indonesian subsidiary of Kotera Manufacturing Co., Ltd. (Kotera; Head office: Shiga Prefecture; Representative Director and President: Shoichi Kotera). The loan is cofinanced with Kansai Urban Banking Corporation, which brings the overall cofinancing amount to 60 million yen.
- Since it started business in 1963, Kotera has manufactured, installed and repaired metal ornaments and alter fittings, primarily for Buddhist temples and Shinto shrines. In 1995, Kotera established a manufacturing plant of Buddhist alter fittings in Indonesia. In recent years, the company has utilized the metal processing technology cultivated in manufacturing Buddhist ornaments to capture the needs of different industries by processing plastic parts for medical instrument manufacturers. And in fast-growing Indonesia, Kotera has been expanding, through PTKI, the manufacturing and sales of metal ornaments; plastic processing by using Buddhist ornament processing technology; and orders received for manufacturing metal fittings and metal dies.
- This loan is intended to provide long-term financing, which PTKI needs to conduct the manufacturing and sales business of Buddhist ornaments, alter fittings and other products. Such financing will, through support for business operations of Kotera in Indonesia, contribute to maintaining and improving the international competitiveness of Japanese industries.
- JBIC will continue to support the overseas business development of Japanese companies, including small and medium-sized enterprises (SMEs) by drawing on its various financial facilities and schemes for structuring projects and performing its risk-assuming function.