- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
September 30, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to USD2.1 million (JBIC portion) with YUEI CASTER Co., Ltd. (YUEI CASTER; Headquarters: Osaka Prefecture; Representative Director and President: Kota Ojima). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd. with the overall cofinancing amount reaching USD3.03 million.
The loan is intended to finance YUEI CASTER the fund necessary for the establishment of YUEI CASTER (SUZHOU) CO., LTD. (YCS) in China.
YUEI CASTER is a small and medium-sized enterprise (SME) manufacturing and selling various castors and related parts for attaching to office equipment, hand carts and work benches. The company set up a local subsidiary in Shanghai, China, in 2002 and has since produced and supplied various castors and related parts mainly to Japanese-affiliated office automation equipment manufacturers. Against the backdrop of economic growth in China, YUEI CASTER established YCS in Suzhou City as the second production base in China in order to meet more demand for various castors for these manufacturers, and intends to expand the supply of these castors and related parts. Thereby, this loan will contribute to maintaining and strengthening the international competitiveness of Japanese industries through support for overseas business deployment of YUEI CASTER.
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 China, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.