Japan Bank for International Cooperation (JBIC) has signed a loan agreement of up to $440,000 with CAPCO, LLC, the US subsidiary of Miyama Kogyo, a small auto-parts manufacturer based in Aichi Prefecture. The loan is syndicated with Hyakugo Bank, bringing the total facility to roughly $640,000.
| Item | Amount |
|---|---|
| JBIC loan (JBIC's portion) | Up to $440,000 |
| Total syndicated loan (with Hyakugo Bank) | Approximately $640,000 |
The money funds CAPCO's manufacturing and sales operation in Indiana, where the company produces seatbelt buckles and retractors, airbag inflator parts, switch components, and seat-frame fittings. CAPCO was set up in 1997 and has mostly supplied local Japanese-affiliated auto-parts makers ever since.
The amounts here are modest by JBIC's usual standards, where loans to major manufacturers and infrastructure projects run into the billions of yen. That is precisely the point: this is JBIC's small and mid-sized enterprise financing arm at work, pairing with a regional lender to keep a single Aichi supplier's US unit funded rather than backing a national champion. JBIC says the loan is meant to help Japanese SMEs sustain their overseas footprint and to reinforce the supply chain that feeds Japanese-affiliated automakers operating in the United States.
This is not CAPCO's first call on JBIC. The bank notes the new loan follows an earlier financing arrangement for the same borrower announced in a press release dated August 27, 2021. JBIC did not disclose the interest rate, repayment tenor, or collateral terms for either the JBIC or Hyakugo Bank portions of the syndicate, and the release does not say what triggered the fresh borrowing five years after the first loan.