- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
April 25, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling USD3.15 million (JBIC portion) with UMETOKU Inc (UMETOKU; Headquarters: Osaka Prefecture; President: Masahiko Fukushima). The loan is cofinanced with Sumitomo Mitsui Banking Corporation, with the overall cofinancing amount reaching the equivalent of USD4.5 million.
This loan will fund UMETOKU for establishing its Indonesian subsidiary PT. UMETOKU INDONESIA (UTIDE) that mostly engages in heat and surface treatment of special steels.
UMETOKU is a mid-tier enterprise established in 1947 as a specialized trading company dealing with special steels. Today the company conducts special steel processing business, including heat and surface treatment, in addition to their wholesale business, thus meeting broad needs of its customers. UMETOKU set up UTIDE in March 2014 to respond to needs from the customers in Indonesia where demand for its products and services is expected to expand from the automobile and its related industries and plans to increase its overseas market share. The loan will support such overseas business deployment of UMETOKU 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), by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.