- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
August 29, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today two loan agreements: one totaling up to USD1.75 million (JBIC portion) with Yoshu Tanpan Sangyo Co. LTD. (Yoshu Tanpan; Headquarters: Osaka Prefecture; President: Shingo Mori) and the other totaling up to USD2.0 million (JBIC portion) with Nikko Stainless Co., Ltd. (Nikko Stainless; Headquarters: Osaka Prefecture; President: Shinsuke Kochiyama). These loans are both cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd.
These loans will finance the two companies for establishing V-STAINLESS STEEL CO., LTD. (VSS), a joint venture between them in Vietnam to conduct stainless and special steel cutting processing and sales business.
Yoshu Tanpan is a small and medium-sized company (SME) processing and selling stainless steel materials, while Nikko Stainless is also an SME processing and selling stainless steel pipes used for laying them in factories and large-scale plant facilities. With their sights set on potential growth of the Vietnamese market, which has the prospect of sustained capital investment against the backdrop of expanding supporting industries underpinned by economic growth, the two companies now intend to expand the cutting processing and selling business of stainless and special steels through VSS and supply various stainless pipes to local Japanese-affiliated companies as well as local companies. Thus these loans will support the overseas business deployment of Yoshu Tanpan and Nikko Stainless 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.