- Region: Asia
- Manufacturing and Services
- Overseas Investment Loans
July 16, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed a loan agreement*1 in Thai baht with Toyota Leasing (Thailand) Co., Ltd. (TLT), a subsidiary of Toyota Financial Services Corporation (TFS). The loan is cofinanced with a private financial institution with JBIC providing partial guarantee on the cofinanced portion, and intended to partially fund TLT's sales financing business covering Japanese automobiles in Thailand.
- Thailand's automobile market is growing backed with the country's steady economic growth, and continues to be the important market for Japanese automobile manufacturers having a large presence there. Also, the automobile sales financing continues to be an essential sales tool for every automobile manufacturer to expand automobile sales in Thailand as it is very popular to use sales financing for the purchase of automobiles there.
- This loan will support the overseas sales financing business of automobiles by Japanese companies, providing the loan in local currency, and thereby, contribute to maintaining and improving the international competiveness of the Japanese automobile industry.
- As a public financial institution, JBIC will continue to support the overseas business deployment of Japanese companies by drawing on its various financial facilities and schemes, including loans to meet the needs of local currency funds, for structuring projects, and by performing its risk-assuming function.
- *1 The loan agreement was signed on July 3, 2013, and the press release was issued today, as the related procedures of relevant parties have been completed.