- 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 four loan agreements in the aggregate of USD4,991 thousand (JBIC portion) with ENKEI CORPORATION (ENKEI; Headquarters: Shizuoka Prefecture;). The loan is cofinanced with private financial institutions.
This loan is intended to finance ENKEI for manufacturing and sales business of automobile parts conducted by PT. ENKEI INDONESIA and PT. ENKEI MARUTOYO PAINTING INDONESIA, its two Indonesian subsidiaries, ENKEI WHEELS (INDIA) LTD., its subsidiary in India, and ENKEI (MALAYSIA) SDN. BHD., its subsidiary in Malaysia.
ENKEI is the first Japanese company that successfully produced aluminum wheels, and supplies the genuine aluminum wheels to motorcycle and automobile manufacturers as an independent supplier. Currently, the company has 15 overseas subsidiaries and supplies their products mostly to Japanese automobile manufacturers locally. Amid that the automobile manufacturers are expanding their local production in Asian countries responding to the increase in demand for motorcycles and automobiles with the expansion of the middle class backed with economic growth, ENKEI plans to strengthen its local production capacity to meet their demand. These loans will support such overseas business deployment of ENKEI 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 small and medium-sized enterprises (SMEs), in growing markets such as ASEAN countries, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.