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Loan for Tire Manufacturing and Sales Business of Indian Subsidiary of Yokohama Rubber Co., Ltd.
Supporting Overseas Business Expansion of Japanese Tire Manufacturer

  • Region: Asia
  • Manufacturing and Services
  • Overseas Investment Loans
August 17, 2021
  1. The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed on August 16 a loan agreement amounting to up to USD96 million (JBIC portion) with ATC Tires AP Private Limited (ATCAP), an Indian subsidiary of The Yokohama Rubber Co., Ltd. (Yokohama Rubber). The loan is co-financed with Mizuho Bank, Ltd., MUFG Bank, Ltd., and The Norinchukin Bank, bringing the total co-financing amount to USD160 million.
      
  2. The loan is intended to finance the funds necessary for ATCAP, a Yokohama Rubber group company, to build a new plant for its off-highway tire (OHT)*1 manufacturing and sales business in India.
      
  3. The demand for OHTs is expected to expand in Europe, the Americas, and developing countries. Yokohama Rubber plans to increase the production capacity and cost competitiveness of its OHT business in order to meet the demand in these regions and increase its sales. The loan will support Yokohama Rubber’s overseas business expansion, 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 expansion of their businesses by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function.
      
Note
  1. *1 
    Off-highway tires is a generic term for tires used on agricultural machinery, construction vehicles, industrial vehicles, forestry machinery, etc.

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