- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
March 19, 2015
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The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to THB30 million (JBIC portion) with Chiba Manufacturing (Thailand) Co., Ltd. (CMTC), a subsidiary of Chiba Manufacturing Co., Ltd. (Chiba Manufacturing; Headquarters: Kanagawa Prefecture; President: Hideo Kataoka) in Thailand. The loan is cofinanced with Sumitomo Mitsui Banking Corporation.
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This loan in the local currency is intended to finance CMTC's manufacturing and sales of automotive parts, in Chonburi Province, Thailand. The funds are used for the expansion of its production facilities.
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Chiba Manufacturing, which manufactures and sells automotive parts, is a small and medium-sized enterprise (SME) and established CMTC as a manufacturing and sales base in Thailand in August 2012. The Company plans to further expand its business by strengthening CMTC's production capacity to expand the sales to Japanese automotive parts makers operating in Thailand, responding to the increase in the demand for automobiles. The loan will support such overseas business expansion of Chiba Manufacturing and thereby contribute to maintaining and strengthening the international competitiveness of Japanese industries.
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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, 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.