- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
February 16, 2015
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The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to USD1.75 million (JBIC portion) with EIKODO VIETNAM CO., LTD. (EKD), a subsidiary of SUZUKI EIKODO CO., LTD. (SUZUKI EIKODO; Headquarters: Gifu Prefecture; President: YUZURU SUZUKI). The loan is cofinanced with THE JUROKU BANK, LTD., THE OGAKI KYORITSU BANK, LTD. and THE SHIGA BANK, LTD. and other financial institutions.
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This loan is intended to finance EKD, a wholly owned subsidiary of SUZUKI EIKODO, for conducting the manufacturing and sales business of candies.
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SUZUKI EIKODO, which started business in 1877, is a long-established small and medium-sized enterprise (SME) known for "ZELIKO", a candy with a free gift toy. The company is mainly conducting the wholesale of confectionaries (such as candy, chocolate and jelly), while engaging in product design, manufacturing and taking orders as an OEM as well under the permission of major confectionary manufacturers. In particular, it has the record of being the top rank in products for amusement parks. In addition, the company expanded its business to China in 2011.
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In ASEAN countries, including Vietnam, where an increase in domestic demand is expected on account of economic growth, there are expectations for further growth in the favorite food market such as candies. Given these conditions, SUZUKI EIKODO intends to further expand its market share by establishing EKD in Vietnam. This loan will contribute to maintaining and strengthening the international competitiveness of Japanese industries through support for its overseas business deployment.
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As Japan's policy-based financial institution, JBIC will continue to support overseas business deployment of Japanese companies, including mid-tier enterprises and SMEs, in growing markets such as Vietnam, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.