- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
April 22, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement amounting up to USD1.9 million (JBIC portion) with KYOWA CASTING Co., Ltd. (KYOWA CASTING; headquarters: Okayama Prefecture; Managing Director: Tatsuhiro Ii). The loan is cofinanced with The Bank of Tokyo Mitsubishi UFJ, Ltd. with the overall cofinancing amount adding up to equivalent of USD2.9 million.
This loan is intended to finance KYOWA CASTING the funds necessary for KYOWA CASTING (THAILAND) CO., LTD. (KCT), its subsidiary, to manufacture and sell aluminum parts for automobiles and agricultural equipment in Thailand.
KYOWA CASTING is a small and medium-sized enterprise (SME) engaging in manufacturing and sales of aluminum casting products since its foundation in 1943, and established KCT in Thailand in August 2011. Given the prospect of increasing demand for automobiles parts in Thailand backed by economic growth, KYOWA CASTING plans to supply the aluminum parts manufactured with this loan mostly to Japanese automobile manufactures in Thailand. This loan will support the overseas business deployment of KYOWA CASTING and thereby contribute to maintaining and strengthening the international competitiveness of Japanese 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 growing markets such as Thailand, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.