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The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement amounting up to USD435 thousand (JBIC portion) with Sanwa Manufacturing Vietnam Co., Ltd. (SMVN), a Vietnamese subsidiary of Sanwa System Co., Ltd. (Sanwa System; Headquarters: Kosai-City, Shizuoka Prefecture; President: Kozo Nakamura). The loan is cofinanced with The Gamagori Shinkin Bank and other private financial institutions. This marks the first time for JBIC to cofinance with The Gamagori Shinkin Bank.
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This loan is intended to finance the automotive parts manufacturing and sales business conducted by SMVN in Bac Giang Province, Vietnam. The funds will be used for the expansion of SMVN’s plant facilities.
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Sanwa System is a small and medium-sized enterprise (SME) engaged in precision cutting of metal parts for the engine and transmission of automobiles and motorcycles. Sanwa System aims to expand its business through SMVN in anticipation of increasing demand for automotive parts in Vietnam, as well as in neighboring countries, backed by the market integration and economic growth of Asia. Through the support of such overseas business deployment of Sanwa System 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 Vietnam, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.
