- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
September 29, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to JPY222 million (JBIC portion) with Toyo Corporation (Toyo; Headquarters: Aichi Prefecture; President: Shojiro Haga). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd.
This loan is intended to provide Toyo with funds required for its two Thai subsidiaries, Precision Tools Service (Thailand) Co., Ltd. (PT Service) and PTS Tool (Thailand) Co. Ltd. (PTS Tool), to conduct the processing and sales business of tools for machines and other products.
Toyo is a mid-tier enterprise specializing in tools for machines, engaging in the wholesale of tools for machines, machine tools and other products as well as the processing and sharpening of tools for machines. The company established in Thailand PT Service in 1999, which engages in the wholesale of tools for machines, machine tools and other products, and PTS Tool in 2001, which processes and sharpens tools for machines, thereby conducting the processing and sales business of tools for machines and other products in Thailand with a two-company system.
Given the prospect of increasing demand for the processing business of tools for machines against the backdrop of economic growth and the expansion of the automobile market in Thailand, Toyo intends to expand the processing and sales business for Japanese-affiliated auto manufacturers and other companies in this country by strengthening its processing and sales with a two-company system. The loan will support such overseas business deployment of Toyo, 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.