- Region: Latin America and the Caribbean
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
March 23, 2015
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to USD7 million (JBIC portion) with MATSUO INDUSTRIES, INC. (MATSUO INDUSTRIES; Headquarters: Aichi Prefecture; President: Teruo Matsuo). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd., bringing the overall cofinancing amount to USD10 million.
The loan is intended to provide funds required for the manufacturing and sales business of automobile parts conducted by MATSUO INDUSTRIES MEXICO, S.A. DE C.V. (MIX), a Mexican subsidiary of MATSUO INDUSTRIES, in the State of Estado de Jalisco, Mexico.
MATSUO INDUSTRIES is a small and medium-sized enterprise (SME) conducting the manufacturing and sales business of automobile parts, and established MIX in Mexico in October 2014. The company plans to expand its business through MIX in Mexico where the demand for a production base of automobile parts is expected to increase with the economic growth and expanding automobile market in North America. This loan will contribute to strengthening and improving the international competitiveness of Japanese industries through support for the overseas business deployment of MATSUO 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, in such growing markets as Mexico by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.