Loan for Automotive Parts Manufacturing and Sales Business of Yazaki Corporation’s Brazilian Subsidiary
Supporting Overseas Business Expansion of Japanese Automotive Parts Manufacturer
- Region: Latin America and the Caribbean
- Manufacturing and Services
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC, Governor: MAEDA Tadashi) signed on August 4 a loan agreement amounting to up to approximately USD33 million (JBIC portion) with Yazaki do Brasil Ltda. (YBL), a Brazilian subsidiary of Yazaki Corporation (Yazaki). The loan is co-financed with MUFG Bank, Ltd., bringing the total co-financing amount to USD56 million.
This loan is intended to provide the necessary funds for YBL to manufacture and sell automotive parts such as wire harnesses in Brazil.
For automobile manufacturers, Brazil is a core production base for automobiles and automotive parts, and the market is expected to continue to grow due to multiple factors including population growth and economic growth. YBL is Yazaki’s manufacturing and sales base for products targeted to the Brazilian domestic market, and it is also a crucial subsidiary to control the Yazaki group’s manufacturing bases in South America. The loan will support Yazaki’s overseas business expansion and will contribute toward maintaining and strengthening the international competitiveness of Japanese industry.
As Japan’s policy-based financial institution, JBIC will continue to support the overseas business expansion of Japanese companies by drawing on its various financial facilities and schemes for structuring projects and performing its risk-assuming function.