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The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on March 31 a loan agreement amounting to up to approximately USD72 million (JBIC portion) with PT Mitsubishi Motors Krama Yudha Indonesia (MMKI), an Indonesian subsidiary of Mitsubishi Motors Corporation (Mitsubishi Motors). The loan is co-financed with MUFG Bank, Ltd., PT. Bank Mizuho Indonesia, a subsidiary of Mizuho Financial Group, Inc., PT Bank SMBC Indonesia Tbk, a subsidiary of Sumitomo Mitsui Financial Group, Inc., PT Bank Permata Tbk and PT Bank Danamon Indonesia Tbk., bringing the total co-financing amount to approximately USD143 million equivalent.
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The loan is intended to finance the funds necessary for MMKI to expand the facilities for its automotive manufacturing business in Indonesia
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Indonesia’s automotive market is one of the largest in the ASEAN region and is expected to expand over the long term in line with economic growth. Mitsubishi Motors aims to concentrate its management resources on the ASEAN region, where it is competitive, and maintain and increase market share by enhancing its sales network, production capacity, and product development in the region.
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This loan will support Mitsubishi Motors’ overseas business expansion by providing the funds necessary for its automotive manufacturing business, thereby contributing toward strengthening the resilience of supply chains, as well as maintaining and improving the international competitiveness of the automotive industry, a core industry in Japan.
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As Japan's policy-based financial institution, JBIC will continue to provide financial support to help with efforts to enhance the supply chain resilience of Japanese industries and assist Japanese companies in the overseas expansion of their businesses.
