- Region: Asia
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
May 16, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement with Lacto Japan Co., Ltd. (Lacto Japan; Head Office: Tokyo; Managing Director: Shigeru Yasumi). The loan is cofinanced with Resona Bank, Limited.
The loan is intended to finance Lacto Japan to fund through its Singaporean subsidiary the establishment of FOODTECH PRODUCTS (THAILAND) CO., LTD. (FTT), its wholly-owned subsidiary in Ayutthaya Province, Thailand, for engaging in the processing and sales of processed cheese.
Lacto Japan, which is trading dairy products and their ingredients, established FTT, a manufacturing base of processed cheese, in August 2013 to meet the needs of its major clients and plans to expand business in Thailand. This is because the country's economic growth has continued to increase the middle class, and there is the prospect of growing demand for dairy products such as processed cheese. This loan will support such overseas business deployment of Lacto Japan 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 Thailand, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.