- Region: Latin America and the Caribbean
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
March 30, 2015
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to USD3.3 million (JBIC portion) with KUROTA SEIKI-SEISAKUSHO CO., LTD. (KUROTA; Headquarters: Aichi Prefecture; President: Toshihiro Kuroda). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd.
The loan is intended to provide funds required for the manufacturing and sales business of automobile parts conducted by KUROTA MEXICO S.A. de C.V. (KRM), a Mexican subsidiary of KUROTA, in the State of Aguascalientes, Mexico.
KUROTA is a small and medium enterprise (SME) conducting the manufacturing and sales of automobile parts and against the backdrop of economic growth and expanding automobile market in North America, the company established KRM in June 2014 as the production base of automobile parts in Mexico where demand is expected to grow. KUROTA intends to expand business with the local production in KRM. This loan will contribute to the international competitiveness of Japanese industries through support for the overseas business deployment of KUROTA.
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.