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The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed on November 9 a loan agreement amounting to up to USD12 million (JBIC portion) with Futaba North America Engineering & Marketing Corporation (FNA), a US subsidiary of Futaba Industrial Co., Ltd. (Futaba Industrial). The loan is co-financed with MUFG Bank, Ltd., bringing the total co-financing amount to USD20 million.
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The loan is intended to finance, through FNA, part of the funds necessary for Futaba Industrial Texas Corp. (FIT), another US subsidiary of Futaba Industrial, to manufacture and sell automotive parts such as body parts and exhaust system parts.
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Futaba Industrial manufactures and sells automotive parts such as exhaust system parts, body parts, and interior parts in the United States, which is one of the world’s leading automotive markets, and the company is planning to renovate and expand its manufacturing equipment. The loan will support Futaba Industrial’s overseas business expansion, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
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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.
