- 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 up to JPY98 million (JBIC portion) with FUJIYA MANUFACTURING VIETNAM CO., LTD. (FMV), a Vietnamese subsidiary of FUJIYA Co., Ltd. (FUJIYA; Headquarters: Osaka; President: Yasunobu Nozaki). The loan is cofinanced with The Nanto Bank, Ltd., and Resona Bank, Ltd., bringing the total cofinancing amount to JPY140 million.
The loan is intended to finance the tool manufacturing and sales business of FMV, located in Binh Duong Province in Southern Vietnam. The fund will be used to expand its production facility.
FUJIYA, established in 1923, is a small and medium-sized enterprise (SME) manufacturing and selling tools such as pliers and nippers. FUJIYA established FMV in 2007, as demand for tools in Vietnam was increasing backed by growing income, while there were not many other Japanese, American or European manufacturers selling tools in Vietnam until very recently. The company plans to expand its business through the expansion of FMV's production facility in Vietnam. Thereby, the loan will contribute to maintaining and strengthening the international competitiveness of Japanese industries through supporting the overseas business deployment of FUJIYA.
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 Vietnam, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.