The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed today a loan agreement amounting to up to approximately JPY38 billion (JBIC portion) with SoftBank Corp. (SoftBank). The loan is co-financed with Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd., and Sumitomo Mitsui Trust Bank, Limited, bringing the total co-financing amount to JPY76 billion.
This loan is intended to finance part of the funds necessary for SoftBank to acquire Cubic Telecom Ltd. (Cubic Telecom) in Ireland. The acquisition price is approximately EUR473 million.
Cubic Telecom is a leading global provider of software-defined connected vehicle (SDCV) solutions in over 190 countries and regions around the world. Its connectivity platform allows automotive manufacturers to globally monitor, manage, and update many aspects of a vehicle or device in real time. Through this investment, SoftBank will collaborate closely with Cubic Telecom to expand the deployment and growth of its global connectivity platform for SDCVs. In addition, SoftBank aims to grow its business by advancing into the global market under its “Beyond Japan” strategic growth initiative. This loan supports the overseas expansion of the existing businesses and new business deployment of SoftBank, a Japanese company, by providing necessary funds for M&As, and it contributes toward maintaining and strengthening the international competitiveness of Japanese industries.
As Japan’s policy-based financial institution, JBIC will continue to support the overseas M&A activities of Japanese companies and their overseas business expansion in collaboration with private financial institutions.
