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JBIC Announces FY2018 Business Results

  • Region: Others
  • Others
June 6, 2019

The Japan Bank for International Cooperation (JBIC, Governor: Tadashi Maeda) today announced its business results for FY2018 as outlined below. Details of the business results by region and financial instrument as well as changes in the results over the last five years are shown in the appendices attached to this press release.

Ⅰ. Overview of Business Results for FY2018

■In FY2018, JBIC made financial commitments totaling approximately JPY1,717.1 billion in loans, equity participation and guarantees, an increase of 43.9% from the previous year.

■Outstanding loans and equity participation totaled approximately JPY14,017.3 billion and outstanding guarantees were approximately JPY2,493.3 billion as of March 31, 2019, with the total outstanding amount for those financial instruments reaching approximately JPY16,510.6 billion.

Ⅱ. Business Highlights

1.Promoting Overseas Development and Acquisition of Important Resources for Japan

As Japan depends on imports from overseas for most of its resources, it is an important challenge that the country secures a stable supply of energy and mineral resources in the medium to long term by increasing its self-development ratio of those resources. JBIC contributes to securing a long-term stable supply of resources through financial support for acquisition of upstream interests in resources development, diversification of supply sources, enhancement of the fuel value chain, and strengthening of relationships with resource-rich countries. In FY2018, JBIC made a total of eight financial commitments in the resource sector, amounting to approximately JPY251 billion in loans, equity participation and guarantees.
  In particular, JBIC provided financing for a Japanese company to acquire interests in an offshore oil field in the Emirate of Abu Dhabi in the United Arab Emirates. JBIC also conducted equity participation in a business in Vietnam that manufactures a raw material of zirconium compounds used for various industrial goods, such as emissions purification catalysts for automobiles and other industrial catalysts, and exports them to Japan.

2.Maintaining and Increasing International Competitiveness of Japanese Industries

Amid a growing move by Japanese industries to seek earnings opportunities outside Japan due to declining domestic demand, JBIC supports Japanese companies, through its various financial instruments, in implementing their overseas business strategies as well as maintaining and strengthening their global supply chains, thereby contributing to maintaining and increasing the international competitiveness of Japanese industries. In this business field, JBIC made a total of 105 financial commitments amounting to approximately JPY1,444.3 billion in FY2018.

(1) Support for Strategic Overseas Business Expansion of Japanese Companies
①Financing Overseas Investments by Japanese Companies
JBIC, together with Japanese companies, invested in a fund that focuses on advanced IT companies in the Nordic and Baltic regions. The fund was launched by JBIC IG Partners.*1

②Financing Exports by Japanese Companies
JBIC supported Japanese companies in exporting construction-related equipment and services to the port sector in Angola as well as a complete backbone telecommunication network system to Uzbekistan. JBIC also signed a loan agreement with Banco de la Nación Argentina, the largest commercial bank in Argentina, to set up an export credit line to encourage Japanese exports of infrastructure equipment to Argentina.

(2) Support for Overseas Expansion of Japanese MTEs and SMEs
To assist Japanese mid-tier enterprises (MTEs) and small- and medium-sized enterprises (SMEs) in expanding overseas, JBIC made a total of 66 financial commitments, aggregating approximately JPY10.2 billion, in co-financing with Japanese private financial institutions, including regional banks and Shinkin (credit) banks. The support included loans for the sales and repairing business for watches in Cambodia and Vietnam, and international cargo transportation business in Thailand. In addition to this, JBIC, in cooperation with Japanese regional financial institutions, hosted various seminars and events to provide information that might help Japanese companies expand overseas as well as opportunities for business matching.

3.Support for Projects in Environmental Sector

Under its GREEN Operations,*2 JBIC signed loan agreements to set up a credit line with the Central American Bank for Economic Integration to finance smart energy projects in Latin America and with Banco Nacional de Desenvolvimento Econômico e Social (BNDES), Brazilian Development Bank to support renewable energy projects in Brazil. In the environmental sector, JBIC made a total of four financial commitments amounting to approximately JPY21.8 billion in FY2018.
  In July 2018, JBIC launched its new Global Facility to Promote Quality Infrastructure Investment for Environmental Preservation and Sustainable Growth (QI-ESG).*3 The aim of this facility is to provide a wide range of financing support for infrastructure development, including in the renewable energy sector, which is expected to help to preserve the global environment. Under the new facility, JBIC provided project financing*4 to an offshore wind power project in the U.K. and a loan to a waste treatment project in Sweden.

4.Other Financing Support

JBIC provided 19 local currency denominated loans*5 totaling the equivalent of approximately JPY122.7 billion. The loans included Mexican peso and Thai baht loans to fund the manufacturing and sales of automobile parts in Mexico and Thailand, as well as a Swedish krona loan to support a waste treatment project in Sweden.

 

[Appendices]
1. Total Commitment in Loans, Equity Participation and Guarantees
2. Commitments by Region and Financial Instrument
3. Summary of JBIC's Business Results (over the Last Five Years)

 

Notes:
  1. *1 
    Joint venture established by JBIC and Industrial Growth Platform, Inc., in June 2017 to provide advisory services to overseas investment funds
  2. *2 
  3. *3 
  4. *4 
    Project finance is a financing scheme in which repayments for a loan are made solely from the cash flows generated by the project
  5. *5 
    Currencies other than JPY, USD and EUR

 

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