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The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) today released operational results for the first quarter (April-June) of FY2015.
A summary of the results is given below. See Appendix for a detailed breakdown of the figures by financial instrument.
I. Loans, Guarantees and Equity Participations
1.Commitments
In the first quarter of FY2015, JBIC made 56 commitments amounting to approximately JPY190.8 billion in loans, guarantees and equity participations.
2.Disbursements,Repayments and Outstanding Amounts
Disbursements amounted to approximately JPY296.9 billion, while repayments were JPY514.7 billion in the first quarter. As a result, outstanding loans and equity participations totaled JPY14.9011 trillion and outstanding guarantees were JPY2.5564 trillion, with the total outstanding amount reaching JPY17.4576 trillion at the end of the first quarter.
II. Operational Highlights
1. Supporting Strategic Overseas Business Activities of Japanese Companies
(1) Supporting Overseas Investment of Japanese Companies
JBIC made an equity participation in a fund that invests mainly in Chinese unlisted growth companies, and also provided a loan to finance the galvanized steel sheet for automobiles manufacturing and sales business of a subsidiary of JFE Steel Corporation in Indonesia.
(2) Supporting Exports of Japanese Companies
JBIC supported Japanese companies' exports by providing, through the Ministry of Finance of Mongolia, the necessary funds for Khishig Arvin Industrial LLC, a Mongolian company, to purchase from SUMITOMO CORPORATION mining machinery made by Komatsu Ltd. and related services, based on a credit line extended to the government of Mongolia in June 2013. In addition, JBIC set up an export credit line for Enka Pazarlama Ihracat Ithalat A.S., a Turkish company that imports and sells construction machinery and equipment.
2. Supporting Overseas Business Deployment of Mid-Tier Enterprises and SMEs
JBIC supported the overseas business deployment of mid-tier enterprises and small and medium-sized enterprises (SMEs) by providing the equivalent of approximately JPY9.4 billion in a total of 26 loans, to mid-tier enterprises and SMEs including loans for the industrial rubber manufacturing and sales business of a subsidiary of Toei Chemical Industry Co., Ltd. in the Philippines, the automotive parts manufacturing and sales business of subsidiaries of Okawa Screw Manufacturing Co., Ltd. in Thailand and Mexico, and the machinery and equipment assembly and installation business of a Thai subsidiary of Sun Engineering Co., Ltd. in Thailand.
In addition, JBIC set up a credit line for Mitsubishi UFJ Lease & Finance Company Limited's subsidiary in Indonesia to provide necessary lease financing for capital investment by overseas subsidiaries of Japanese mid-tier enterprises and SMEs, and also for THE HACHIJUNI BANK, LTD. to support the overseas business deployment of Japanese mid-tier enterprises and SMEs.
3. Support through Local Currency Financing*1
JBIC supported, by providing a loan in Mexican pesos, the automobile parts manufacturing and sales business of a Mexican subsidiary of JTEKT CORPORATION in Mexico.