- Region: Latin America and the Caribbean
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
September 15, 2015
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement amounting up to USD1,200 thousand (JBIC portion) with Shippo Moulds, Co., Ltd. (SHIPPO MOULDS); Headquarters: Aichi prefecture; President: Hirotaka Matsuoka). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd. bringing the total cofinancing amount to about USD1,720 thousand.
The loan is intended to provide SHIPPO MOULDS with the necessary funds to establish the die-casting mold manufacturing and sales business of DMS MOLDES MEXICO, S.A. DE C.V. (DMM), a Mexican subsidiary that SHIPPO MOULDS jointly established with Matsuoka Special Steel CO., LTD. (MATSUOKA) and DAIDO DMS MEXICO S.A. DE C.V., a Mexican subsidiary of Daido Die & Mold Steel Solutions Co., Ltd. (DAIDO).
SHIPPO MOULDS is a small and medium-sized enterprise (SME) which manufactures and sells die-casting molds for auto engine and transmission parts. Given a wave of auto parts manufacturers advancing into Mexico responding to the growing demand for vehicles in North America, the company seeks to further expand its business in Mexico through DMM, the joint company established with DAIDO and MATSUOKA. Thereby, this loan will contribute to maintaining and strengthening the international competitiveness of Japanese industries through the support of the overseas business development of SHIPPO MOULDS.
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 Mexico, by drawing on its various financial facilities and schemes for structuring projects and performing its risk-assuming function.