- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
June 11, 2015
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement amounting up to USD550 thousand (JBIC portion) with Mizuho Precision Vietnam Co., Ltd. (MPV), a Vietnamese subsidiary of MIZUHO SPRING SEISAKUSHO CO., Ltd. (MIZUHO SPRING; Headquarters: Aichi Prefecture; President: Yosuke Horiuchi). The loan is cofinanced with THE BANK OF NAGOYA, LTD., bringing the total cofinancing amount to USD800 thousand.
The loan is intended to finance the manufacturing and sales business of office equipment parts by MPV in Hai Duong Province, Vietnam. The fund will be used to expand its production facility.
MIZUHO SPRING is a small and medium-sized enterprise (SME) manufacturing and selling parts for office appliances such as printers, and plates and wire springs, etc., for automobiles. The company plans to expand its business through MPV in Vietnam, a country whose importance is growing as an overseas production base for Japanese companies, while the demand for precision parts is further expected to increase. Thereby, the loan will contribute to maintaining and strengthening the international competitiveness of Japanese industries by supporting the overseas business deployment of MIZUHO SPRING.
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.