- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
November 20, 2013
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a loan agreement totaling up to 50 million yen (JBIC portion) with TSUTA (THAILAND) CO., LTD. (TTCL), a subsidiary of Tsuta Metals & Machinery Co., Ltd. (Tsuta; Headquarters: Hyogo Prefecture; President: Masaki Tsuta). The loan is cofinanced with a private financial institution, which brings the overall cofinancing amount to 100 million yen.
The loan is intended to finance the expansion of TTCL's production facility of aluminum die-cast products for automobiles by Tsuta.
Tsuta is a small and medium-sized enterprise manufacturing and selling various aluminum die-cast products for automobiles since its foundation in 1939, which established TTCL as a production base in Thailand in 2011, amid the demand for aluminum die-cast products for automobiles expected to grow along with the growing automobile market, backed with steady economic growth in Thailand. Responding to the increase of customer needs, Tsuta decided to expand TTCL's production capacity for developing its business. This project supplies products to local subsidiaries of Japanese companies. Thus, this loan will contribute to maintaining and improving the international competitiveness of Japanese industries, through supporting the overseas business deployment of Tsuta.
As a public financial institution, 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.