The Japan Bank for International Cooperation signed today a loan agreement totaling up to THB100 million (JBIC portion) with YAMAMORI TRADING CO., LTD. (YTC), a subsidiary of Yamamori Inc. (Yamamori; Head Office: Mie Prefecture; President: Noritada Mitsubayashi). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd. and SHOKO CHUKIN BANK, with the overall cofinancing amount reaching about THB equivalent of JPY1 billion.
This loan is intended to finance in local currency the establishment of YAMAMORI (THAILAND) CO., LTD. (YTH) in Rayong Province, the central region of Thailand, for conducting brewing and sales business through YTC, a subsidiary of Yamamori. The loan will fund the construction of a new plant and installation of machinery and equipment.
Yamamori, which started business in 1889, is a mid-tier enterprise and one of the major domestic soy sauce manufacturers. It also has advanced technologies in developing products such as small liquid packets and retort pouch foods. In 1988, Yamamori was the first to make a foray into Thailand among other domestic soy sauce manufacturers, and currently as a pioneer of soy sauce business there, the company is bolstering the Japanese food boom on its supply side. By establishing YTH in April 2013, Yamamori intends to expand an even larger local market share. This loan will support the overseas business deployment of Yamamori and thereby contribute to maintaining and strengthening the international competitiveness of Japanese industries.
As Japan's policy-based financial institution, JBIC will continue to support overseas business deployment of Japanese companies, including mid-tier enterprises and small and medium-sized enterprises (SMEs), in growing markets such as Thailand, by drawing on its various financial facilities and schemes, including loans to meet the needs of local currency funds, for structuring projects, and performing its risk-assuming function.