Loan for Industrial Machine Tools Manufacturing and Sales Business of KANEFUSA CORPORATION’s Vietnamese Subsidiary
Supporting Overseas Business Expansion of Japanese Company
- Region: Asia
- Manufacturing and Services
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC, Governor: MAEDA Tadashi) signed on March 31 a loan agreement amounting to up to USD6 million with KANEFUSA CORPORATION (KANEFUSA). The loan is co-financed with Resona Bank, Limited, bringing the total co-financing amount to USD10 million.
The loan is intended to provide the funds required by KANEFUSA VIETNAM MANUFACTURING CO., LTD. (KFVM), a Vietnamese subsidiary of KANEFUSA, to conduct the business of manufacturing and sales of its products including industrial machine tools.
KANEFUSA produces industrial cutting tools for processing wood, paper, metals, etc. The company holds the top share in the Japanese cutting tools market, with its unique technologies for surface processing, which improve the durability of blade edges, and for reducing sawing and cutting noises. Overseas, KANEFUSA has production bases and sale bases in nine countries including China and Vietnam. It enhanced its production capacity through KFVM, which was founded in 2018, and aims to further expand business operations in the global market. The loan will support KANEFUSA's overseas business expansion, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
As Japan’s policy-based financial institution, JBIC will continue to provide financial support to assist Japanese companies in the overseas expansion of their businesses by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function.