- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
October 17, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling USD1.4 million (JBIC portion) with HASO Ltd. (HASO; Headquarters: Tokyo; President: Kikuo Yamada). The loan is cofinanced with The Chiba Bank, Ltd., with the overall cofinancing amount reaching USD2 million.
This loan is intended to finance HASO SANITARY MATERIALS (SUZHOU) CO., LTD. (HSM), a subsidiary of HASO in China, for the manufacturing and sales business of hygiene and cleaning products and specifically fund the expansion of the production facilities of HSM.
HASO is a small and medium-sized enterprise (SME) engaging in manufacturing and sales of hygiene and cleaning products, including dust-collecting wipers and wet tissues. As demand for hygiene and cleaning products is expected to increase in strongly hygiene conscious developed countries, HASO intends to strengthen the production capacity of HSM it established in China in August 2001 as a manufacturing and sales base and further expand business through sales of its products to daily-used product manufacturers and retail stores, among others. The loan will support such overseas business deployment of HASO 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 China, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.