The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on April 25 a loan agreement with SENKO Group Holdings Co., Ltd. (SENKO Group). The loan is co-financed with Sumitomo Mitsui Banking Corporation.
The loan is intended to finance the funds necessary for SENKO Group to acquire Australian company Simon Transport Pty Ltd (Simon National Carriers).
Simon National Carriers operates transportation and warehousing businesses for freight, such as heavy cargo and special large-scale cargo, in Australia. Through the acquisition of its shares, SENKO Group will leverage the know-how and networking capabilities that Simon National Carriers possesses with heavy and specialized cargo transportation in Australia. Thus, SENKO Group intends to expand the business and further enhance its strengths of quality and diverse logistics services. The loan will support the overseas business expansion of SENKO Group, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
As Japan’s policy-based financial institution, JBIC will continue to support overseas M&A activities of Japanese companies and their overseas business expansion in collaboration with private financial institutions.
