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The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement in the amount of up to USD2,625 thousand (JBIC portion) with Sankin Corporation (Sankin; Headquarters: Osaka; President and Representative Director: Katsuomi Tamaki). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sumitomo Mitsui Banking Corporation, and Mizuho Bank, Ltd., bringing the total cofinancing amount to approximately USD3,750.
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This loan is intended to finance the establishment by Sankin of A4C-SANKIN PRECISION TUBE, S.A.P.I DE C.V. (SPT), a Mexican subsidiary jointly owned with local companies, for the manufacturing and sales of cold-drawn steel pipes and steel pipe products in Mexico.
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Sankin, a mid-tier enterprise which has been engaged in the manufacturing and sales of cold-drawn steel pipe products since its establishment in 1946, boasts industry leading scale and technology as a pioneer of the industry. It set up overseas production bases in Thailand (2003) and Indonesia (2006), and has now established SPT in Mexico as its third overseas production base. Mexico has seen a continued inflow of Japanese companies, most of which are automobile-related, setting up export bases for the North American and Latin American markets, and demand for cold-drawn steel pipes and steel pipe products is growing accordingly. Under such circumstances, Sankin seeks to increase its market share in the North and Latin American markets through SPT. By supporting such overseas business deployment of Sankin, this financing will contribute 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 companies, including mid-tier enterprises and SMEs, in growing markets such as Mexico, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.
