JC FINANCE PLC. Tied Up Comprehensive Service with Kong Nuon Group.

Press release

JC FINANCE PLC. (JCF) has cooperated with Yanmar Holdings Co., Ltd (Yanmar) to an agreement of tie-up for providing a comprehensive service with Kong Nuon Group Co. Ltd. (KNG), the general imports and sales agency of Yanmar agricultural machinery purposing a development of agriculture in Cambodia.

In Cambodia, rice farming is the main primary industry. The yearly yield is more than ten million tons, which is more than that of Japan. However, the harvest per unit area is only about half of Japan’s yield. It is required to modernize the manpower and draft animals-based farm activities to improve the harvest efficiencly. Launching the high-spec Japanese agricultural machines, such as tractors and combine harvesters, into this market is expected to have the farming environment to be more optimized and rationalized with worth the cost by the government and society. In order to achieve promoting financial inclusion to the medium and small-sized farmers at rural regions in Cambodia, JCF continues to support this agricultural breakthrough financially.

【The Purpose of Tie-up】
The purpose of this tie-up is to improve Cambodian farmers’ operational efficiency and their earnings by introducing Yanmar’s sophisticated agricultural machines into the market. In addition, JCF acknowledges that its activity will fulfill the 8th goal of SDGs the advocate: “decent work and economic growth”. To meet the SDGs goals, JCF will inclusively handle the purchase order finance for the agricultural machinery which KNG is dealing in from Yanmar.

【The Background of Tie-up】
KNG has been handling the imports and sales of agriculatural machines from Yanmar in Cambodia. However, because of the peculiarity of financial loan for the machines, there has been an issue related to providing the quick and effective financial solution. On the other hand, JCF has been focusing on the agricultural field since its foundation. JCF is confident in providing the financial solution from its knowledge and experience that JCF has obtained up until now. This cooperation is put into practice from our well-expected vision of being able to improve the current agricultural situation for rice farming industry in Cambodia.

【The Activities of JCF】
JCF (CEO: Mr. Kikuchi Ikuo, Head office: Phnom Penh, Cambodia) is a microfinance institution officially approved by the central bank of Cambodia in January 2018. To cultivate the agricultural field, Cambodia’s key industry, and the living standard of the farmers, JCF carries out following solutions and services: providing the farmer-friendly repayment plan that matches with their harvest period, managing and analyzing the dynamics by setting up JCF original GPS to each agriculatural machines, and mentoring customers by giving farming advises.

【Company Info】
Company name: JC FINANCE PLC.
Representative name: Mr Kikuchi Ikuo
Address: St. 376, Sangkat Boeung Keng Kong III, Khan Chamkarmorn, Phnom Penh, Cambodia
Foundation: January 2018
Nature of business: Financial loan for agricultural machinery and financing to agricultural related companies
Capital: 6,250,000 USD (including Capital Reserve)

Company name: Kong Nuon Group Co. Ltd.
Representative name: Mr Kong Nuon
Address: No 22, Street 182, Sangkat Phsa Depo 1, Khan Tuol Kok, PhnomPenh, Cambodia
Foundation: Year 1991

Company name: Yanmar Holdings Co., Ltd
Representative name: Mr Yamaoka Takehito
Address: 1-32, Chayamachi, Kita-ku, Osaka, Japan
Foundation: April 2013
Capital: 90,000,000 JPY

Company name: PHALs Inc.
Representative name: Mr Takahashi Nobuaki
Address: 1-1-9, Kakigaracho, Nihonbashi, Chuo-ku, Tokyo, Japan
Foundation: February 2020
Nature of business: Operating Holding Company, investment and financing of domestic and oversea finance related companies
Capital: 199,000,000 JPY
Business relationship: The parent company of JC FINANCE PLC.

【Contact Info for Any Inquiries】
Ms. Nishiguchi / Mr. Kikuchi : (Japanese / English)