- Region: Asia
- 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 amounting to USD4.2 million (JBIC portion) with ASKA CORPORATION (ASKA; Headquarters: Aichi Prefecture; Representative Director and President: Yoshinori Katayama). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd., bringing the overall cofinancing amount to USD6 million.
This loan is intended to finance PT. AUTO ASKA INDONESIA (AAI), an Indonesian subsidiary of ASKA, for manufacturing and sales business of automobile parts and robot systems*1.
ASKA is a mid-tier enterprise who manufactures and sells automobile parts, and established AAI as a manufacturing and sales base for Indonesia, responding to the growing demand for automobiles in Indonesia. The company plans to expand its business to automobile and automobile parts manufacturers that operate globally. Thereby, this loan will contribute to maintaining and strengthening the international competitiveness of Japanese industries through supporting the overseas deployment of ASKA.
As Japan's policy-based financial institution, JBIC will continue to support overseas business deployment of Japanese companies, including mid-tier enterprises and small and medium-sized enterprise (SME), in growing markets such as Indonesia, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.
- *1 Automobile body parts welding and assembly systems.