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Business Performance and Activity for Q2 FY2018

  • Region: Others
  • Others
December 27, 2018

The Japan Bank for International Cooperation (JBIC, Governor: Tadashi Maeda) today announced the summary of its business performance and activity in the second quarter (July-September) 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 Q2 FY2018, JBIC approved 26 financial commitments totaling approximately JPY128.2 billion in loans, equity participations and guarantees.

2.Disbursements, Repayments and Outstanding Amounts
Disbursements made by JBIC during Q2 FY2018 amounted to approximately JPY219.0 billion and repayments received were approximately JPY405.2 billion. As a result, outstanding loans and equity participations totaled approximately JPY14,297.1 billion and outstanding guarantees were approximately JPY2,245.9 billion, with the total outstanding amount reaching approximately JPY16,250.5 billion.

Ⅱ. Major Business Activities in Q2 FY2018

1.Promoting Overseas Resource Development

JBIC extended a loan to FPSO*1 vessel chartering services provided by a company incorporated by MODEC, Inc., Mitsui & Co., Ltd., Mitsui O.S.K. Lines, Ltd., Marubeni Corporation, and Mitsui E&S Holdings Co., Ltd. The FPSO will be built by MODEC, Inc. and the services will be provided to Petróleo Brasileiro S.A. (Petrobras), a state-owned oil company in Brazil.

2.Maintaining and Increasing International Competitiveness of Japanese Industries

(1)Support for Japanese Companies' business deployment in Infrastructure Development
JBIC participated in the high-speed railway project in the United States through investing in a special purpose vehicle named Japan Texas High-Speed Railway Cayman LP, together with the Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN). The railway connects Dallas and Houston, State of Texas, United States.
Also, JBIC provided financing to the Turkmen State Power Corporation for the construction of a gas-fired power plant with a full set of facilities purchased from SUMITOMO CORPORATION.
 
(2)Support for Overseas Business Expansion of Mid-Tier Enterprises and SMEs
JBIC approved 19 loans totaling approximately JPY2.1 billion to assist Japanese mid-tier enterprises and small and medium-sized enterprises (SMEs) in expanding their businesses outside of Japan. These include the loans to a Cambodian subsidiary of NAKAZAWA GROUP which conducts wristwatch sales and repair business and to a Thai subsidiary of Hakusuitech Co., Ltd which manufactures and sells raw materials used in the chemical industry.
 
(3)Other
In the Eastern Economic Forum held in Vladivostok, Russia, which was participated in by Japan's Prime Minister Shinzo Abe, JBIC signed a memorandum of understanding for the promotion of Japan-Russia business with the Russia's Republic of Sakha and Bank for Development and Foreign Economic Affairs (VEB).

3. Support for Samurai Bond Issuance

JBIC partially acquired yen-denominated foreign bonds (Samurai bonds) issued by the Government of the Philippines.

4. Securitization of loan assets

JBIC carried out the partial liquidation of a project finance loan (loan participation) for electric power infrastructure projects in the Middle East region. This created an investment opportunity for private financial institutions and promoted the mobilization of private sector funds in overseas projects.

Note
  1. *1 
    A floating production, storage and offloading (FPSO) system is a floating vessel for the first stage processing of crude oil produced at the oil well, which separates associated gas and water, and for the storage and offloading of oil.  

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