Loan for Hygiene and Cleaning Products Production and Sales Business of Japanese Company in China
Supporting Overseas Business Deployment of Mid-Tier Enterprises and SMEs
- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement amounting to USD3.5 million (JBIC portion) with HASO Ltd. (HASO; Headquarters: Tokyo; President: Kikuo Yamada). The loan is cofinanced with THE CHIBA BANK, LTD., with the overall cofinancing amount reaching USD5 million.
This loan is intended to finance the hygiene and cleaning products production and sales business of HASO SANITARY MATERIALS (SUZHOU) CO., LTD. (HSM), a Chinese subsidiary of HASO. The funds will be used for the expansion of HSM's production facilities*1
HASO is a small and medium-sized enterprise (SME) engaged in the production and sales of hygiene and cleaning products, including dust-collecting wipes and wet tissues. In August 2001, HASO established HSM in China as a production and sales base. By enhancing its production capacity, HASO intends to further expand the business through increasing sales to daily-use product manufacturers and retail stores in developed countries as their demand for hygiene and cleaning products is expected to increase given their growing consciousness of hygiene. Through the support of such overseas business deployment of HASO, this financing will contribute to maintaining and strengthening the international competitiveness of Japanese industries.
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 developing markets such as China, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.
- *1 JBIC signed a loan agreement in October 2014 amounting to USD1.4 million with HSM for its initial capital investment. Please see Press Release on October 17, 2014 for further details.