- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
September 20, 2013
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a loan agreement totaling up to 550 million yen with URASE Corp. (URASE; Headquarters: Fukui Prefecture; Representative Director and President: Junichi Mori). The loan is cofinanced with The Fukui Bank, Ltd., with the total cofinancing amount reaching 858 million yen.
This loan is intended to provide the finance for the establishment of PT. URASE PRIMA (UP), a subsidiary of URASE, which will engage in dye processing and sales of dye processed products in Indonesia.
Since being established in 1970, URASE, a small and medium enterprise (SME), has been mainly dyeing textiles made of synthetic fibers. In recent years, the company has also expanded its operations in the field of industrial materials. It established UP this month, which is its first overseas manufacturing base in Indonesia where the population is the largest in ASEAN countries and there is a vibrant textile industry. As its business partners have been strengthening their integrated production system mainly in Asia, URASE plans to process medium-thick synthetic textile products in which it excels, and supply them primarily to Indonesia, as well as the Asian region and the Middle East. Thus, this loan will, through supporting the overseas business deployment of URASE, contribute to maintaining and improving the international competitiveness of Japanese industries.
As a public financial institution, JBIC will continue to support overseas business development of Japanese companies, including mid-tier enterprises and SMEs, in such growing market as Indonesia, by drawing on its various financial facilities and schemes for structuring projects and performing its risk-assuming function.