- 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 up to USD800,000 (JBIC portion) with CHANGSHU ENTECH PLASTIC COMPANY, LIMITED (ENTECH), a Chinese subsidiary of NISSIN SEIKO CO., LTD. (NISSIN SEIKO; Headquarters: Aichi Prefecture; President: Masahiro Takeda). The loan is cofinanced with The Hyakujushi Bank, Ltd., THE SHIGA BANK, LTD., and others.
This loan is intended to finance ENTECH for the manufacturing and sales business of automotive parts conducted in Jiangsu, China. The funds will be used for the enlargement of its manufacturing facilities.
NISSIN SEIKO, a small and medium-sized enterprise (SME), whose strength is in the design and production of resin molds for building equipment parts, automotive parts, and other products, uses the resin molds to produce and sell plastic processed products. In May 2008, the company established ENTECH in order to secure a share of the automotive parts market in China, which has become the world's largest automobile market. NISSIN SEIKO seeks to further expand its market share in China, whose domestic demand is expected to increase due to economic growth, by strengthening the production framework. Through the support of such overseas business deployment of NISSIN SEIKO, 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, such as China, by drawing on its various financial facilities and schemes for structuring projects and performing its risk-assuming function.