- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
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The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed on January 15 a loan agreement in the amount of up to approximately USD24 thousand (JBIC portion) with Sumitomo Mitsui Trust Leasing (Singapore) Pte. Ltd. (SMTLS), a Singaporean subsidiary of Sumitomo Mitsui Trust Panasonic Finance Co., Ltd. This is an individual loan agreement based on a credit line*1 for supporting the overseas business deployment of Japanese mid-tier enterprises and small and medium-sized enterprises (SMEs) previously signed with SMTLS. The loan is cofinanced with private financial institutions, bringing the total cofinancing amount to approximately USD34 thousand.
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The loan agreement will secure funding from SMTLS in lease financing for facilities required by KAMOGAWA VIETNAM CO., LTD., a Vietnamese subsidiary of Kamogawa Co., Ltd. (Headquarters: Kyoto prefecture), to conduct its cutting tool manufacturing and sales business.
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In recent years, Vietnam has seen an increasing number of Japanese companies enter the market, with Japanese mid-tier enterprises and SMEs also showing a growing interest in investing in the country. In consequence, finance leases are gaining more interest and demand from these mid-tier enterprises and SMEs for their capital investment. The loans under the credit line will flexibly provide long-term foreign currency funds for finance leases required for the business operations of such companies, and thus support the overseas business deployment of Japanese mid-tier enterprises and SMEs, thereby contributing to maintaining and strengthening the international competitiveness of Japanese industries.
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As Japan's policy-based financial institution, JBIC will continue to support the overseas business deployment of Japanese mid-tier enterprises and SMEs, with a view to maintaining and strengthening the international competitiveness of Japanese industries.