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The Japan Bank for International Cooperation (JBIC, Governor: Tadashi Maeda) today announced the summary of its business performance and activity in the first quarter (April-June) of FY2018 as outlined below. Details of financial commitment amounts by financial product and service can be found in the PDF files provided in this press release.
Ⅰ.Loans, Equity Participation and Guarantees
1．Financial Commitments
In Q1 FY2018, JBIC approved 16 financial commitments totaling approximately JPY112.2 billion in loans, equity participation and guarantees.
2．Disbursements, Repayments and Outstanding Amounts
Disbursements made by JBIC during the first quarter amounted to approximately JPY398.1 billion and repayments received were approximately JPY703.5 billion. As a result, outstanding loans and equity participation totaled approximately JPY14,000.5 billion and outstanding guarantees were approximately JPY2,250.0 billion, with the total outstanding amount for those financial products and services reaching approximately JPY16,250.5 billion at the end of the first quarter.
Ⅱ.Major Business Activities in Q1 FY2018
1．Promoting Overseas Resource Development
JBIC supported JX Nippon Mining & Metals Corporation to acquire a German corporation engaged in the development of tantalum and niobium products, which are widely used in the Japanese electronics industry. Furthermore, JBIC signed a memorandum of understanding (MOU) for business cooperation with Vale S.A. in Brazil, a world leading supplier of mineral resources such as high-quality iron ore, nickel, and cobalt.
2．Maintaining and Increasing International Competitiveness of Japanese Industries
(1)Support for Strategic Overseas Business Expansion of Japanese Companies
JBIC provided a loan to finance the manufacturing and sales of performance compounds for automobile parts by a Chinese subsidiary of Mitsui Chemicals, Inc. JBIC also offered an export credit line for Sberbank of Russia, the largest commercial bank in Russia, to provide financing to local companies in Russia and its neighboring countries which will purchase machinery and equipment from Japanese exporters.
(2)Support for Overseas Expansion of Japanese Mid-tier Enterprises and SMEs
JBIC approved 12 loans totaling approximately JPY2.9 billion to assist Japanese mid-tier enterprises and small and medium-sized enterprises (SMEs) in expanding their businesses outside of Japan. These include loans to an Indonesian subsidiary of Shinsei Kagaku Kougyo Co., Ltd., which specializes in plastic injection molding technology, and to a Mexican subsidiary of Beyonz Co., Ltd., which manufactures and sells automobile parts. In addition, JBIC signed an MOU with Shinkin Central Bank to provide two-step loans to shinkin (credit) banks in support of Japanese mid-tier enterprises and SMEs planning to expand overseas.
(3)Other
JBIC announced at the G7 (The Group of Seven) Summit in Charlevoix, Canada, its participation in the women's social advancement initiative "The G7 2X Challenge: Financing for Women," together with development finance institutions of the G7.