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The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement amounting up to MXN335 million (JBIC portion) with GOHSYU MEXICANA, S.A. DE C.V. (GMX), a Mexican subsidiary of GOHSYU CORPORATION (GOHSYU; Headquarters: Shiga prefecture; President: Mitsuhiro Goto). The loan is cofinanced with THE SHIGA BANK, LTD., The Bank of Tokyo-Mitsubishi UFJ, Ltd., and Mizuho Bank, Ltd., bringing the total cofinancing amount to approximately MXN535 million.
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This loan is intended to finance the forged automotive parts (e.g. CVT gears and shafts) manufacturing and sales business conducted by GMX in the state of Aguascalientes in central west Mexico.
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GOHSYU, a mid-tier enterprise established in 1946, is engaged in the manufacturing and sales of high-precision forged parts for automobiles, motorcycles, and agricultural machinery. In anticipation of continued growth of demand for automotive parts in the US and Latin America, GOHSYU established GMX in Mexico in 2014 to meet the needs of its major clients. Through the support of such overseas business deployment of GOHSYU by Mexican peso loan, 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 small and medium-sized enterprises (SMEs), in growing markets such as Mexico, by drawing on its various financial facilities and schemes, including loans to meet the need for local currency funding, for structuring projects and performing its risk-assuming function.
