- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
April 3, 2015
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to JPY70 million (JBIC portion) with Philippine Toei Chemical Corporation (PTCC), a subsidiary of Toei Chemical Industry Co., Ltd. (Toei Chemical; Headquarters: Gunma Prefecture; President: Takahiro Ui) in the Philippines. The loan is confinanced with private financial institutions.
The loan is intended to finance PTCC's manufacturing and sales business of industrial rubber in Cavite Province, the Philippines. The fund will be used for the expansion of factory and production facilities.
Toei Chemical is a small and medium-sized enterprise (SME) conducting the manufacturing and sales business of industrial rubber for automobile parts. The company plans to expand its business through PTCC in the Philippines, which is expected to play an important role as a production base of automobile parts, while the demand for automobiles is anticipated to increase globally on the back of economic growth. Therefore, this loan contributes to maintaining and strengthening the international competitiveness of Japanese industries through support for the overseas business deployment of Toei Chemical.
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.