3/83 FIRST DEVELOPMENT BANK FINANCING FOR FOREIGN FIRM

On February 4, 1983 the Japan Development Bank officially decided to make its first loan to a foreign firm--MRC, the 80% owned subsidiary of Materials Research Co. of the US. The firm is to produce spattering devices which attach a metallic membrane to the electrodes of ICs. A loan was granted for 350 million yen for 10 years at 8.4% interest. The funds will be used to build a factory in Oita Prefecture. The Bank of Tokyo will also be providing a loan of 350 million yen at the long term prime rate (now 8.49%) for 7-10 years. Construction of the factory started in January, 1983 and should be completed in September.

THE JAPAN LAWLETTER. March, 1983. By Roderick Seeman