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The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed on February 29 a loan agreement amounting to USD1,000 thousand (JBIC portion) with Teikuro Inc. (Teikuro; Headquarters: Aichi Prefecture; President: Takahiro Ichikawa). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd., bringing the total cofinancing amount to approximately USD1,449 thousand.
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This loan is intended to finance the automobile metal surface treatment business conducted by PT. TEIKURO ENGINEERING INDONESIA (TEI), an Indonesian subsidiary of Teikuro. The funds will be used for the expansion of TEI’s plant facilities.
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Teikuro, a small and medium-sized enterprise (SME) engaged in the surface coating treatment business, established TEI in 2015 as a processing outlet in Indonesia, where the automobile market is expected to grow backed by factors such as expansion of the ASEAN market. Teikuro aims to build up its market share in Indonesia through TEI, and by supporting such overseas business deployment of Teikuro, 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 Indonesia, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.
