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The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to USD20 million (JBIC portion) with ONDO SHINSHO (THAILAND) CO., LTD. (OSTC), a Thai subsidiary of Ondo Corporation (Headquarters: Hiroshima Prefecture; President: Chiaki Kato). The loan is cofinanced with private financial institutions.
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This loan is intended to finance the establishment of OSTC’s production facility, which will manufacture and sell automobile transmission parts in Rayong Province, the central region of Thailand.
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Ondo Corporation is a small and medium-sized enterprise (SME) manufacturing and selling automobile parts. As growing demand for automobile parts is foreseen principally in Asia over the coming years, the company established OSTC in 2013 to meet the demands of its main customers and plans to expand business in Thailand. The loan will thus contribute to maintaining and strengthening the international competitiveness of Japanese industries by supporting overseas business deployment of Ondo Corporation.
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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.
