- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
June 1, 2015
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement amounting to USD780 thousand (JBIC portion) with Nichiwa Co. Ltd. (NICHIWA; Headquarters: Miyazaki Prefecture; Representative Director and President: Yoshitaka Hashimoto). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd., bringing the total cofinancing amount to the equivalent of about USD1,662 thousand.
The loan is intended to provide the necessary funds to establish a Chinese subsidiary of NICHIWA, Wuhan Hashimoto Automobile Parts Co., Ltd. (WHA), which will manufacture and sell automobile parts in China.
NICHIWA, established in 1973, is a small and medium-sized enterprise (SME) that manufactures and sells automobile parts. It plans to further expand its market share in China, the world's largest automobile market buttressed by steady economic growth, through the establishment of WHA. The company supplies customers with a wide range of cold forging automobile parts using its self-developed superior die technology, which is highly appreciated both inside and outside the industry, being picked as one of "The 300 Energetic SMEs that Support Tomorrow's Japan" by the Ministry of Economy, Trade and Industry in 2006. Thereby, the loan will contribute to maintaining and strengthening the international competitiveness of Japanese industries by supporting the overseas business deployment of NICHWA.
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 China, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.