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The Japan Bank for International Cooperation (JBIC; Governor: AMAKAWA Kazuhiko) signed on July 2 a loan agreement with PT KANEKA FOODS INDONESIA (KFI), an Indonesian subsidiary of Kaneka Corporation (Kaneka; President: FUJII Kazuhiko). The loan is co-financed with private financial institutions.
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This local currency denominated loan is intended to provide the funds necessary for KFI to manufacture and sell processed fat and oil products.
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KFI develops and manufactures bakery and confectionery ingredients, particularly filling products and processed fat and oil products, and primarily supplies these products to local subsidiaries of Japanese bakery and confectionery companies. The bakery market in Indonesia is expected to continue growing, driven by changing lifestyles associated with urbanization and increasing demand for convenient and diverse food options. Kaneka positions KFI as a strategic base for its processed fats and oils business in the Asian market.
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This local currency denominated loan will support Kaneka’s overseas business expansion, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry, as well as enhancing supply chain resilience for Japanese companies in Indonesia.
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As Japan’s policy-based financial institution, JBIC will continue to provide financial support for the overseas business expansion of Japanese companies, including support for their local currency financing needs.
