- Region: Latin America and the Caribbean
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
December 24, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling USD2.1 million (JBIC portion) with FUJI PRESS CO., LTD. (FUJI PRESS; Headquarters: Aichi Prefecture; President: Masatoshi Ando). The loan is cofinanced with Sumitomo Mitsui Banking Corporation with the overall cofinancing amount reaching USD3.6 million.
The loan is intended to provide FUJI PRESS with funds required by FNA MECHATRONICS MEXICO S.A. de C.V. (FNA), a Mexican joint venture of NIPPO LTD. (NIPPO) and FUJI PRESS, for conducting the manufacturing and sales business of pressed parts of automobiles.
FUJI PRESS is a small and medium enterprise (SME) engaged in manufacturing and sales of functional auto parts such as magnetic valves and automotive air conditioner parts. Given increasing demand for automobiles in North America and other regions, FUJI PRESS intends to further expand its business in these regions through FNA, its joint venture company with NIPPO. Thus, this loan will contribute to maintaining and strengthening the international competitiveness of Japanese industries through support for the overseas business deployment of FUJI PRESS.
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 by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.