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The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed on February 29 a loan agreement amounting up to USD4,200 thousand (JBIC portion) with Taica Corporation (Taica; Headquarters: Tokyo; President and COO: Taito Suzuki). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd., bringing the total cofinancing amount to USD8,400 thousand.
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This loan is intended to finance the automotive parts manufacturing and sales business conducted in the State of Guanajuato, Mexico, by Hirotai Automotive Trim S.A. de C.V. (HTM), a Mexican subsidiary invested in by Taica.
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Taica, a small and medium-sized enterprise (SME) which is engaged in the manufacturing and sales of multifunctional materials, as well as curved-surface printing of automotive parts, established HTM in Mexico in April 2015. Against the backdrop of economic growth and expansion of the automobile market in North America, Mexico is expected to experience an increase in demand as a production hub for automotive parts, and Taica seeks to expand its business through local production by HTM. Through the support of such overseas business deployment of Taica, 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.
