The Japan Bank for International Cooperation signed today a loan agreement totaling up to USD700 thousand (JBIC portion) with Yamato Industries Vietnam Co., Ltd. (YIV), a Vietnamese subsidiary of YAMATO INDUSTRIAL CO., LTD. (YAMATO INDUSTRIES; Headquarters: Shizuoka Prefecture; President: Masahiro Kosugi). The loan is cofinanced with the Resona Bank, Limited.
This loan is intended to finance YIV, established by YAMATO INDUSTRIES in Bac Ninh Province, Vietnam, for the expansion of production facilities of its manufacturing and sales business of motorcycle parts.
YAMATO INDUSTRIES is a small and medium-sized enterprise (SME) manufacturing and selling motorcycle parts and plans to expand its business through YIV in Vietnam where the demand for motorcycles is expected to grow backed with the economic growth in the Asian region. Thus, this loan contributes to maintaining and strengthening the international competitiveness of Japanese industries, through supporting of the overseas business deployment of YAMATO INDUSTRIES.
As Japan's policy-based financial institution, JBIC will continue to support overseas business deployment of Japanese companies, including mid-tier enterprises and SMEs, in growing markets such as Vietnam, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.