- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
January 5, 2015
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to THB42 million (JBIC portion) with CHIYOTA GOSEI (THAILAND) CO., LTD. (CGT), a subsidiary of CHIYOTA PLASTICS CO., LTD. (CHIYOTA PLASTICS; Headquarters: Aichi Prefecture; President: Shogo Isemura) in Thailand. The loan is cofinanced with The Seto Shinkin Bank, bringing the total cofinancing amount to about THB60 million.
This loan in the local currency is intended to finance CGT's manufacturing and sales business of automobile parts, in Rayong Province, the central region of Thailand.
CHIYOTA PLASTICS, which manufactures and sells automobile parts, is a small and medium-sized enterprise (SME) and established CGT in Thailand in November 2012. Amid that the demand for automobile parts is expected to expand with the country's steady economic growth in Thailand, CGT plans to expand their business responding to the needs of major customers. The loan will support such overseas business expansion of CHIYOTA PLASTICS and thereby contribute to maintaining and strengthening the international competitiveness of Japanese industries.
As Japan's policy-based financial institution, JBIC will continue to support overseas business deployment of Japanese companies, including mid-tier enterprises and SMEs, by drawing on its various financial facilities and schemes, including loans to meet the needs of local currency funds, for structuring projects, and performing its risk-assuming function.