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The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed on June 18 a loan agreement totaling up to USD4.9 million (JBIC portion) with UCHIYAMA VIETNAM INC. (UVI), a Vietnamese subsidiary of UCHIYAMA MANUFACTURING CORP. (UMC; Headquarters: Okayama Prefecture; President & CEO: Kenzo Uchiyama). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd.
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This loan is intended to finance UVI, which mainly manufactures and sells automobile parts, in Binh Duong Province, Vietnam, for expanding its plant facility.
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UMC, which started business in 1898, is a small and medium-sized enterprise (SME) manufacturing industrial rubber products and holds advanced technical capabilities for producing bearing seals and gaskets for automobiles. In 2000, the company established UVI in Vietnam. Given the prospect of expanding auto parts markets primarily in the Asian region in the coming years on the back of its solid economic growth, UMC intends to further expand its market share in the region by expanding the facility of UVI. The loan will support such overseas business deployment of UMC and thereby contribute to maintaining and strengthening the international competitiveness of Japanese industries.
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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 Vietnam, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.
