Loan for Die-Cast Aluminum Parts Manufacturing and Sales Business of Japanese Company in Mexico
Supporting Overseas Business Deployment of Mid-Tier Enterprises and SMEs
- Region: Latin America and the Caribbean
- 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 up to USD18,722 thousand (JBIC portion) with MINO Industry Co., Ltd. (MINO Industry; Headquarters: Gifu Prefecture; President: Jun Sugimoto). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mizuho Bank, Ltd., and The Juroku Bank, Ltd., bringing the total cofinancing amount to approximately USD28,000 thousand.
This loan is intended to provide MINO Industry the funds necessary to finance the automotive die-cast aluminum parts manufacturing and sales business conducted by its Mexican subsidiary, MINO INDUSTRY MEXICO S.A. DE C.V. (MIMX).
MINO Industry is a mid-tier enterprise engaged in the manufacturing and sales of die-cast aluminum parts for automobiles. Through MIMX, MINO Industry seeks to further expand its business by increasing the sales of its products in Mexico, which is experiencing a continuing inflow of automotive parts manufacturers due to the growing demand for automobiles in the North American market. Through the support of such overseas business deployment of MINO Industry, 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 small and medium-sized enterprises (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.