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The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement amounting to USD10 million (JBIC portion) with Delta Kogyo Co., Ltd. (Delta; Headquarters: Hiroshima Prefecture; President: Hitoshi Fujita). The loan is cofinanced with Sumitomo Mitsui Banking Corporation.
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This loan is intended to finance the automotive seating manufacturing and sales business conducted by Tritech Autoparts Mexicana, S.A. de C.V. (TAP), a Mexican subsidiary of Delta. The funds will be used to invest in additional facilities.
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Originally established in 1953 as a manufacturer and seller of weaving machines, Delta is a small and medium-sized enterprise (SME) which currently manufactures and sells automotive seating and seating parts as its main business. Delta is highly praised by customers for its exceptional skills and high quality management in automotive seating-related products, bolstered by the expertise accumulated over many years. The company operates in various countries across the world, including China, Thailand, and Myanmar. In anticipation of an increase in demand for automotive parts in the U.S. and Latin America, Delta established TAP in Mexico in 2012 as an automotive seating production base and aims to further expand its business in the country by expanding the facilities. Through the support of such overseas business deployment of Delta, 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.
