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The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed on May 12 a loan agreement with JX Nippon Mining & Metals USA, Inc. (JXUSA), a US subsidiary of JX Nippon Mining & Metals Corporation (JXNMM). The loan is co-financed with Mizuho Bank, Ltd. and Sumitomo Mitsui Banking Corporation.
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The loan is intended to finance the funds necessary for JXNMM to conduct the business of manufacturing and selling sputtering targets through JXUSA in the United States. Sputtering targets are high-purity, homogeneous metal materials, which are essential for manufacturing semiconductor circuits and other products. As the demand for semiconductors and other products are growing, sputtering targets are important materials for industry in general.
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JXNMM holds a large share in the sputtering target market. Since the demand for semiconductors and other products is expected to continue to grow, strengthening the business in the United States, which is one of the key markets, has important significance in JXNMM's business strategy. The loan will support JXNMM's overseas business expansion, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry. The loan will also support enhancement of industrial supply chains including the semiconductor supply chain.
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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.
