- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
October 8, 2015
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement amounting to JPY20 million (JBIC portion) with ATSUMI FASHION CO., LTD. (ATSUMI FASHION; Headquarters: Toyama prefecture; President: Miyuki Hinata). The loan is cofinanced with private financial institutions, including The Hokuriku Bank, Ltd.
This loan is intended to finance the production and sales of clothing by ATSUMI FASHION’s subsidiary in Myanmar, ATSUMI MYANMAR CO., LTD. (AMC).
ATSUMI FASHION, a small and medium-sized enterprise (SME), produces and sells clothing mainly for women. In September 2014, it established AMC in Myanmar as its "China Plus One" production base, which offers an inexpensive and abundant labor force, as well as geographical advantages as a base for exporting to other Asian countries. Also, with the "local production for local consumption" business model in mind, the company seeks to expand its business through AMC in Myanmar and its neighboring countries whose textile products markets are expected to grow due to increasing demand resulting from the steady economic growth. Through the support of such overseas business deployment of ATSUMI FASHION, this loan will contribute to maintaining and strengthening the international competitiveness of Japanese industries.
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 by drawing on its various financial facilities and schemes for structuring projects and performing on its risk-assuming function.