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The Japan Bank for International Cooperation (JBIC; Governor: Akira Kondoh) today released operational results for the first quarter (April-June) of FY2016.
A summary of the results is given below. See the Appendix for a detailed breakdown of the figures by financial instrument.
Ⅰ.Loans, Guarantees and Equity Participations
1．Commitments
In the first quarter of FY2016, JBIC made 115 commitments amounting to approximately JPY1.1846 trillion in loans, guarantees, and equity participations.
2．Disbursements, Repayments and Outstanding Amounts
Disbursements amounted to approximately JPY750 billion, while repayments were JPY491.3 billion in the first quarter. As a result, outstanding loans and equity participations totaled JPY12.9735 trillion and outstanding guarantees were JPY2.3849 trillion, with the total outstanding amount reaching JPY15.3585 trillion at the end of the first quarter.
Ⅱ.Operational Highlights
1．Securing Stable Supply of Resources to Japan
As support related to natural resource development, JBIC provided loans for the Indonesian Tangguh LNG 3 Project (development of liquefied natural gas) and for acquiring interest in the U.S. Morenci Copper Mine. These loans contribute to securing a stable supply of energy resources and base metals which are vital for Japan.
2．Supporting Maintenance and Strengthening of the International Competitiveness of Japanese Industries
(1)Supporting Strategic Overseas Business Activities of Japanese Companies
JBIC contributed equity to a fund which invests in companies expanding their businesses in Mexico, Canada, the U.S., and other countries, and provided necessary funds for electronic components manufacturing and sales business conducted by a Vietnamese subsidiary of Sumitomo Electric Industries, Ltd.
(2)Supporting the Overseas Infrastructure Development Business of Japanese Companies
JBIC provided project financing and political-risk guarantee for the Central Java coal-fired power generation project, Indonesia’s first ultra-supercritical coal-fired IPP project. This is in line with the Japanese government’s strategy of promoting Japanese involvement in infrastructure projects.
(3)Supporting Overseas Business Deployment of Mid-tier Enterprises and Small and Medium-Sized Enterprises
JBIC approved 31 loans totaling approximately JPY22.2 billion to support the overseas business deployment of mid-tier enterprises and small and medium-sized enterprises (SMEs). These included loans to: automobile parts manufacturing and sales business of a Vietnamese subsidiary of HIROSHIMA ALUMINUM INDUSTRY CO., LTD.; specialty steel bars second processing and sales business of a Mexican subsidiary of Miyazaki Seiko Co., Ltd.; fragrances and food additives production and sales business of a Chinese subsidiary of Nagaoka Perfumery Co., Ltd. JBIC also supported facility procurement through finance leases by mid-tier enterprises and SMEs operating overseas, on the basis of investment credit lines previously established with a Thai subsidiary of Mitsubishi UFJ Lease & Finance Company Limited and a Singaporean subsidiary of Sumitomo Mitsui Trust Panasonic Finance Co., Ltd., respectively. In addition, JBIC established a third credit line with The Senshu Ikeda Bank, Ltd. to support the overseas business deployment of mid-tier enterprises and SMEs.
(4)Supporting with Local Currency*1 Loans
JBIC provided Thai baht loans to: automobile exhaust purifying ceramics manufacturing and sales business of a Thai subsidiary of NGK INSULATORS, LTD.; electric appliance parts and automobile electric parts manufacturing and sales business of a Thai subsidiary of NAKAGAWA ELECTRIC IND. CO., LTD.; and automobile seat products manufacturing and sales business of a Thai subsidiary of Yokoyama Kogyo Co., Ltd.