Loan for Automotive Parts Development, Manufacturing and Sales Business of Yazaki Corporation’s European Subsidiary
Supporting Overseas Business Expansion of Japanese Automotive Parts Manufacturer
- Region: Europe
- Manufacturing and Services
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC, Governor: MAEDA Tadashi) signed on May 20 three loan agreements amounting to up to EUR27 million (JBIC portion) with Yazaki Europe Limited (YEL), the UK subsidiary of Yazaki Corporation (Yazaki). The loans are co-financed with MUFG Bank, Ltd., bringing the total co-financing amounts to EUR45 million.
The loans are intended to provide the necessary funds, through YEL, for Yazaki’s European subsidiaries to develop, manufacture, and sell automotive parts such as wire harnesses in Romania and other countries.
Europe is one of the world’s leading automotive markets, and the market is expected to continue to grow. Yazaki’s European subsidiaries are positioned as important development, manufacturing and sales bases for products targeted to the European market. 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 provide financial support to assist Japanese companies in the overseas expansion of their businesses.