Silicon Valley Bank and Aozora Bank Announce First Transaction Since Forging Alliance. Aozora Bank Provides Financing for Genus Japan, Inc.
Company news | October 29, 2001
SANTA CLARA, CA -- October 29, 2001 -- Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, today announced that through its alliance with Tokyo-based Aozora Bank, it has facilitated $2.8 million in financing for Genus Japan, Inc.
The Genus Japan financing is the first transaction to result from the Bank's strategic marketing alliance with Japan-based Aozora Bank, Ltd., announced earlier this year. Genus Japan, Inc. is the Japanese subsidiary of Genus Inc. (GGNS), a semiconductor equipment manufacturer and long-time client of Silicon Valley Bank. It will use the financing provided by Aozora to fill a large order from one of Japan's largest semiconductor manufacturers.
"Silicon Valley Bank has always been confident and supportive in its dealings with Genus," said Bill Elder, chief executive officer of Genus. "In today's challenging market environment, it's a tremendous benefit to have a banking partner with the experience, foresight and global reach to help us take advantage of new international opportunities."
The Genus Japan transaction illustrates how the Bank's recently expanded international strategy translates into a genuine competitive edge for customers, and expands business opportunities for both banks.
"We were looking for an American partner with strong experience in the technology sector that would complement our own," said Aozora Executive Officer Yukimichi Nakatani. "The Genus transaction is a milestone in what promises to be a very productive relationship."
"We're delighted to see our collaboration with Aozora Bank yield benefits for a longstanding client such as Genus," said Bank Vice Chairman Harry Kellogg. "The Bank is an active partner in providing business solutions for its clients, partners and prospects, and we have enough industry experience to see past short-term market challenges. Building alliances in critical markets such as Japan is central to our growth strategy."
About Genus, Inc.
Founded in 1981, Genus, Inc. designs, manufactures and markets capital equipment and deposition processes for advanced semiconductor manufacturing as well as for other, emerging non-semiconductor applications. Genus offers various thin film deposition modules using its own production-proven equipment and processes for both chemical vapor deposition (CVD) and atomic layer deposition (ALD). The deposition processes are used to manufacture integrated circuits for the computer, communications, medical, military, transportation and consumer electronics industries. Genus' customers include semiconductor manufacturers located throughout the United States, Europe and the Pacific Rim including Korea and Japan. Company headquarters are in Sunnyvale, California. For additional information visit Genus' web site at http://www.genus.com.
About Aozora Bank
Aozora Bank, Ltd., who's major shareholders are SOFTBANK CORP., ORIX Corporation and The Tokio Marine and Fire Insurance Co., Ltd., strive to answer the customer demands of the times by offering distinctive financial support and advisory services to developing companies with a high growth potential, as well as by making use of a variety of Internet channels. The headquarters of Aozora are located in Tokyo, Japan. More information Aozora Bank, Ltd. can be found at http://www.aozorabank.co.jp.
About Silicon Valley Bank
Silicon Valley Bank serves emerging growth and middle market companies in targeted niches, focusing on technology and life sciences, while also addressing other specific industries in which it can provide a higher level of service and better manage credit through specialization and focus.
The Bank operates throughout the Silicon Valley: Santa Clara, Palo Alto and Sand Hill, the center of the venture capital community in California. Other regional offices within California include: Irvine, Los Angeles, Napa Valley, San Diego, San Francisco, Santa Barbara, and Sonoma. Office locations outside of California include: Phoenix, Arizona; Boulder, Colorado; West Palm Beach, Florida; Atlanta, Georgia; Chicago, Illinois; Boston, Massachusetts; Minneapolis, Minnesota; Durham, North Carolina; Portland, Oregon; Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas; Northern Virginia; and Seattle, Washington.
SVB Contact: Andrea McGhee, (408) 654-3078, email@example.com.