- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
September 6, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a loan agreement totaling up to 140 thousand U.S. dollars with MORROW Co., Ltd. (MORROW) (Headquarters: Osaka; Representative Director and President: Hidenobu Takeuchi). The loan is cofinanced with a private financial institution, with the total cofinancing amount of 200 thousand U.S. dollars.
- This loan is intended to finance the expansion of a production facility of sportswear products by its wholly-owned Chinese subsidiary, QINGDAO MORROW APPAREL CO., LTD. (QINGDAO MORROW).
- Since its establishment in 1969, MORROW has been manufacturing sportswear products, and in 2005, the company established QINGDAO MORROW in China. As there is the prospect for continued expansion in the apparel market, including for sportswear, given robust Chinese economic growth, MORROW intends to expand the manufacturing capacity of sportswear by QINGDAO MORROW. The sportswear products manufactured with expansion of this factory will be supplied to Japanese apparel manufacturing companies in China. Thus, this loan will, through supporting overseas business deployment of MORROW, contribute to maintaining and improving the international competitiveness of Japanese industry.
- As a public financial institution, JBIC will continue to support overseas business deployment of Japanese companies, including mid-tier enterprises as well as small and medium-sized enterprises, in such growing markets as China, by drawing on its various financial facilities and schemes for structuring projects and performing its risk-assuming function.