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The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement in the amount of USD3,500 thousand (JBIC portion) with Goto Denshi Co. Ltd. (Goto Denshi; Headquarters: Yamagata Prefecture; CEO: Yoshihide Goto). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd. and The Yamagata Bank, Ltd. (Yamagata Bank), bringing the total cofinancing amount to approximately USD5,000 thousand. This is the first time for JBIC to cofinance a loan for a small and medium-sized enterprise (SME) with Yamagata Bank.
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This loan is intended to finance the electronic component manufacturing and sales business conducted by GOTO DENSHI MFG. PHILS., INC. (GDMP), a Philippine subsidiary of Goto Denshi, in the Province of Pampanga, the Philippines.
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Goto Denshi is an SME which is engaged in the manufacturing and sales of electronic components. In February 2015, given growing worldwide demand for electronic equipment, Goto Denshi established GDMP in the Philippines, which has geographical advantages as a production hub. The company seeks to secure stable supplies for major electronic component manufacturers and expand its overseas sales channels through GDMP's local production. Through the support of such overseas business deployment of Goto Denshi, 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 the Philippines, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.
