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Loan for Acquisition of U.S. Company Forge Biologics Holdings, LLC by Ajinomoto Co., Inc.
Supporting Overseas M&A of Japanese Company

  • Region: North America
  • Manufacturing and Services
  • Overseas Investment Loans
July 12, 2024
  1. The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed a loan agreement*1 with Ajinomoto Co., Inc. (Ajinomoto) amounting to up to JPY57 billion (JBIC portion). The loan is co-financed with private financial institutions*2, bringing the total co-financing amount to JPY97 billion.
      
  2. This loan is intended to finance part of the funds necessary for Ajinomoto to acquire the U.S. company Forge Biologics Holdings, LLC (Forge).
      
  3. In the Medium-Term ASV Initiatives 2030 Roadmap, Ajinomoto positions the healthcare field, including the CDMO business*3, as one of its growth areas. Through the acquisition of Forge, a U.S.-based CDMO in gene therapy, Ajinomoto will open the way to new medical treatments for people with health problems, such as rare diseases, by combining Forge’s gene therapy CDMO platform with Ajinomoto’s research and development technologies for amino acids. Thus, Ajinomoto aims for early realization of the 2030 Roadmap by establishing a robust business platform in the advanced therapy field. This loan supports the overseas business deployment of Ajinomoto, a Japanese company, by providing necessary funds for M&As and thereby supports the overseas expansion of existing business, as well as new business deployment, and contributes toward maintaining and strengthening the international competitiveness of Japanese industries.
      
  4. 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.
      
Note
  1. *1 
    The agreement was signed on June 11, 2024.
  2. *2 
    The co-financed portion includes a syndicated loan arranged by MUFG Bank, Ltd. and Mizuho Bank, Ltd., the participation of The Aichi Bank, Ltd., The Ashikaga Bank, Ltd., The Awa Bank, Ltd., The Bank of Okinawa, Ltd., Kanagawa Prefectural Credit Federation of Agricultural Co-operatives, the Bank of Kyoto, Ltd., the Keiyo Bank, Ltd., Saitama Prefectural Credit Federation of Agricultural Cooperatives, Shizuoka Prefectural Credit Federation of Agricultural Cooperatives, the Shimizu Bank, Ltd., Tokyo Credit Federation of Agricultural Cooperatives, The Toho Bank, Ltd., Tochigi Bank, Ltd., The First Bank of Toyama, Ltd., The Hachijuni Bank, Ltd., The Hokkaido Bank, Ltd., Momiji Bank, Ltd., The Yamanashi Chuo Bank, Ltd., and other financial institutions, and a loan from The Norinchukin Bank.
  3. *3 
    CDMO: Contract Development and Manufacturing Organization. CDMOs provide a wide range of outsourcing services, including manufacturing, as well as developing production methods.

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