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ANNOUNCEMENT 16 May 2016
In May 2016, the government of Japan announced new support for the overseas expansion of domestic firms.NUMBER OF INTERVENTIONS
1
SOURCE
The Japan Bank for International Cooperation press release of 16 May 2016: Thai Baht and USD Loan for Manufacturing Ceramic Products for Purifying Automobile Exhaust and Sales Business of Japanese Company in Thailand: http://www.jbic.go.jp/en/information/press/press-2016/0516-49104
JBIC information on overseas investment loans: http://www.jbic.go.jp/en/finance/investment
Financial assistance in foreign market
On 16 May 2016, the Japan Bank for International Cooperation (JBIC) signed two overseas investment loan agreements totalling respectively USD 26 million and THB 800 million (approx. USD 23 million) with NGK CERAMICS (THAILAND) CO., LTD. The company is a Thai subsidiary of the Japanese company NGK INSULATORS, LTD. (NKG). The loan finances the Thai subsidiary's manufacturing and sales business of automobile exhaust purifying ceramics.
In this context JBIC stated: 'This transaction is intended to support NGK's business expansion in overseas countries by way of a local currency loan, and thereby contribute to maintaining and strengthening the international competitiveness of Japanese industries.'
Overseas investment loans
JBIC provides direct loans named overseas investment loans to Japanese companies, overseas affiliates or joint ventures where Japanese companies hold equity interests and governments or financial institutions partying with such overseas affiliates. Loans support projects in specific sectors or with a specific purpose of interest to Japan. Further information can be found on the Bank's website under overseas investment loans.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.