- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
July 31, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to USD600,000 (JBIC portion) with TSUTSUMI SEISAKUSYO VIETNAM CO., LTD (TSV), a Vietnamese subsidiary of Tsutsumi Co., Ltd. (Tsutsumi) (Head Office: Tokyo; President: Tsuneo Tsutsumi). The loan is cofinanced with The Tama Shinkin Bank, with the overall cofinancing amount reaching USD988,000.
This loan is intended to finance the establishment of TSV, a wholly-owned subsidiary of Tsutsumi, in Hai Duong Province, northern Vietnam, for conducting designing, manufacturing and sales business of exhaust silencers.
Tsutsumi is a small and medium-sized enterprise (SME) engaged in designing, manufacturing and sales of exhaust silencers. The company established TSV in May 2014 in Vietnam where demand for exhaust silencers is expected to expand on the back of economic growth and intends to grow its business through TSV. The loan will support such overseas business deployment of Tsutsumi 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 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.