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The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement amounting to USD6,020 thousand (JBIC portion) with G.S. Electech Inc. (G.S. Electech; Headquarters: Aichi Prefecture; President: Joji Suzuki). The loan is cofinanced with private financial institutions.
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This loan is intended to finance the automotive electrical components manufacturing and sales business conducted by G.S.W. DE MEXICO, S. DE R.L. DE C.V. (GSMX), a Mexican subsidiary of G.S. Electech.
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G.S. Electech, a mid-tier enterprise which manufactures and sells automotive electrical components, established GSMX in March 2009 through its U.S. subsidiary as a production and sales base for markets in North America and other regions. In response to growing demand for automobiles mainly in North America, G.S. Electech aims to further expand its business by enhancing GSMX's production capacity and increasing sales to global auto manufacturers. Through the support of such overseas business deployment of G.S. Electech, 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 for structuring projects, and performing its risk-assuming function.
