"Mitsubishi UFJ Lease & Finance" and "Hitachi Capital" will merge in April next year September 25, 6:00

Leasing companies "Mitsubishi UFJ Lease & Finance" and "Hitachi Capital" announced that they will merge in April next year.

As the business environment changes due to the effects of the new coronavirus and other factors, the merger aims to strengthen profitability.

According to the announcement, "Mitsubishi UFJ Lease & Finance" invested by Mitsubishi Corporation and Mitsubishi UFJ Financial Group and "Hitachi Capital" invested by Hitachi, Ltd. will meet on April 1st next year at the board of directors of both companies. Decided to integrate the business through a merger.

The two companies entered into a capital and business alliance in May 2016, and have continued discussions to strengthen the relationship with business integration as an option.

The new among the coronavirus in the business environment under the influence is changed, there is the aim to strengthen the profitability by merger, we are creating an integrated effect of the year about 100 billion yen in the prospect of the 2023 fiscal year after the merger.

Takahiro Yanai, president of Mitsubishi UFJ Leasing Co., Ltd., who will be appointed president of the new company after the merger, said at a press conference held online, "Two companies with different strengths in finance / trading companies and manufacturers have come together to capitalize. By strengthening our strength, we can challenge new areas. "