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The Japan Bank for International Cooperation (JBIC; Governor: Akira Kondoh) signed today a loan agreement amounting up to THB15 million (JBIC portion) with VS Technology (Thailand) Co. Ltd. (VSTT), a Thai subsidiary of VS Technology Corporation (VS Technology; Headquarters: Tokyo; CEO: Takahiro Adachi). The loan is cofinanced with The Bank of Yokohama, Ltd.
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This loan is intended to finance necessary funds in local currency for the industrial lens and lighting system manufacturing and sales business conducted by VSTT in Samut Prakan Province, Thailand.
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VS Technology, a small and medium-sized enterprise (SME), is engaged in the manufacturing and sales of industrial lenses and lighting systems used in production lines of various manufacturing plants for inspection and other purposes. Demand for such industrial lenses and lightings from automotive and other manufacturing industries is expected to continue to increase in Thailand and neighboring countries given the economic growth in the Southeast Asian countries, and VS Technology seeks to expand its business through VSTT by capturing such demand. Through the support of such overseas business deployment of VS Technology by local-currency loan, this financing will contribute to maintaining and strengthening the international competitiveness of Japanese industries.
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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 Thailand, by drawing on its various financial facilities and schemes, including loans to meet the need for local currency funding, for structuring projects and performing its risk-assuming function.
