- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
December 15, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to JPY10 million (JBIC portion) with Tanaka Vietnam Co., Ltd. (TVC), a Vietnamese subsidiary of Tanaka Sangyo Co., Ltd. (Tanaka Sangyo; Headquarters: Shizuoka Prefecture; President: Shuichi Tanaka). The loan is cofinanced with the Mishima Shinkin Bank, with the overall cofinancing amount reaching to JPY20 million.
This loan is intended to provide funds to TVC required for conducting the precision sheet metal processing and powder coating business in Vĩnh Phúc Province, Vietnam. The loan will fund the expansion of its production facilities.
Tanaka Sangyo is a small and medium-sized enterprise (SME) company in precision sheet metal processing and powder coating business and plans to expand the business in Vietnam, against the backdrop of economic growth of Asian countries, where the demand for precision sheet metal processing and powder coating of motorcycle and electric equipment and electronic equipment is expected to grow. Thus, this loan will contribute to maintaining and strengthening the international competitiveness of Japanese industries by supporting the overseas business deployment of Tanaka Sangyo.
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.