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Loan for Automotive Parts Manufacturing and Sales Business of Toyoda Gosei’s Mexican Subsidiary
Supporting Overseas Business Operation of Japanese Automotive Parts Manufacturer under the Growth Investment Facility

  • Region: Latin America and the Caribbean
  • Manufacturing and Services
  • Overseas Investment Loans
January 29, 2021
  1. The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed on January 28 a loan agreement amounting to up to USD13.4 million (JBIC portion) with Toyoda Gosei Automotive Sealing Mexico, S.A. de C.V. (TGASMX), a Mexican subsidiary of Toyoda Gosei Co., Ltd. (Toyoda Gosei). The loan is extended under JBIC’s Growth Investment Facility*1 and is co-financed with Sumitomo Mitsui Banking Corporation.
      
  2. This loan is intended to partially provide the funds required by TGASMX to conduct the business of manufacturing and sales of weatherstrips*2.
      
  3. Toyoda Gosei manufactures and sells weatherstrips in Mexico, which is a core production base for automobiles and automotive parts for automobile manufacturers. The loan will support such Japanese companies' overseas business operations, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
      
  4. As Japan’s policy based financial institution, JBIC will continue to provide financial support to assist Japanese companies in the overseas operation of their businesses by drawing on its various financial facilities and schemes and performing its risk-assuming function.
      
Note
  1. *1 
     See Announcements on January 31, 2020 and May 1, 2020. Although the Growth Investment Facility was restructured on January 29, 2021 (see Announcement), this loan was extended under the Growth Investment Facility prior to the restructuring.
  2. *2 
    Weatherstrips are automotive parts to be affixed in doors, windows, and other openings to prevent rain, wind, dust and noise from entering the vehicle cabin.
  3.  

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