ANNOUNCEMENT 02 Oct 2013
On 2 October 2013, the Japan Bank for International Cooperation (JBIC) signed an overseas investment loan agreement with Yokohama Tire Philippines, Inc.
NUMBER OF INTERVENTIONS
The Japan Bank for International Cooperation, press release of 2 October 2013, Loan for Manufacturing and Sales of Passenger Car Tires in Philippines by Japanese Company: http://www.jbic.go.jp/en/information/press/press-2013/1002-14156
JBIC information on overseas investment loans: http://www.jbic.go.jp/en/finance/investment
The overseas investment loan agreement between JBIC and Filipino company Yokohama Tire Philippines, Inc. has a maximum value of USD 60 million. Yokohama Tire Philippines, Inc. is a subsidiary of the Japanese company The Yokohama Rubber Company, Limited. The loan finances the Filipino subsidiary's expansion of its passenger car tire production plant in the Philippines.
In this context, the Bank stated: "By supporting overseas business deployment of Yokohama Rubber, this loan will contribute to maintaining and improving 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.