- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
March 25, 2015
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The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to USD799 thousand (JBIC portion) with PT. SMFL Leasing Indonesia (SMFLIN), an Indonesian subsidiary of Sumitomo Mitsui Finance and Leasing Company, Limited, based on the investment credit line*1 previously signed for supporting overseas business deployment of Japanese mid-tier enterprises and small and medium-sized enterprises (collectively SMEs). The loan is cofinanced with private financial institutions.
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The individual loan signed under this credit line is intended to provide funds required by PT. Hiraokabody International Technology, an Indonesian subsidiary of HIRAOKA BODY Co., Ltd. (Headquarters: Shizuoka Prefecture), for the facilities necessary for conducting the manufacturing and sales business of automobile parts in lease financing from SMFLIN.
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In recent years, Indonesia's economy has been growing steadily and Japanese companies are accelerating their business expansion, as well as SMEs growing interest to invest in Indonesia. Accordingly, the interest and need of using lease financing for capital investment in this country by Japanese SMEs are growing. Thus, this loan contributes to maintaining and strengthening the international competitiveness of Japanese industries through support for the overseas business deployment of Japanese SMEs by supplying appropriately and timely long-term funds in foreign currency for lease financing necessary for SMEs to conduct business in Indonesia and elsewhere under this credit line.
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As Japan's policy-based financial institution, JBIC will continue to provide financial support for overseas business deployment of Japanese companies, including SMEs, from the point of view of maintaining and strengthening the international competitiveness of Japanese industries.