FOR IMMEDIATE RELEASE
Internal Merger between Two Subsidiaries
to Accelerate Commercialization of Mobility Solutions in Hong Kong
Tokyo, August 2, 2021 --- Mitsubishi HC Capital Inc. (TSE: 8593, Representative
Director, President & CEO: Takahiro Yanai, "Mitsubishi HC Capital") announced that its group company, Mitsubishi HC Capital Management (China) Limited (Managing Director: Keiichi Sato, "Mitsubishi HC Capital MC") merged its consolidated subsidiaries on July 31, 2021, to accelerate commercialization of the mobility solutions and enhance it in Hong Kong. Mitsubishi HC Capital (Hong Kong) Limited ("Mitsubishi HC Capital HK") was the surviving company and BOT LEASE (HONG KONG) COMPANY LIMITED ("BOT LEASE HK") was the merged company.
Thereby Mitsubishi HC Capital HK has succeeded all of resources such as assets and rights and obligations owed by BOT LEASE HK, and will reinforce its business infrastructure to expand its passenger car finance.
Mitsubishi HC Capital MC acquired 100% of the share capital of BOT LEASE HK with a wider customer base of passenger car financing in September 2020*, and has been expanding Mitsubishi HC Capital HK's car financing business partners and customers since then. This internal merger has reinforced Mitsubishi HC Capital HK's operating base and increase its business efficiency. In addition, Mitsubishi HC Capital HK will further strengthen its partnership with BOT LEASE HK's customers and dealers.
Mitsubishi HC Capital group positions "Mobility" as one of the focused fields, and Mitsubishi HC Capital HK will accelerate commercialization of the high-value-added mobility solutions such as a subscription service down the road with its business partners towards a full-scale smart city that the Government of the Hong Kong Special Administrative Region has been pursuing.
*Ex-Hitachi Capital Corporation's News Release as of September 29, 2020 "Acquisition of a Car Financing Company to Develop Mobility Solutions in Hong Kong" https://www.mitsubishi-hc-capital.com/pdf/english/investors/hc/2020/20200929e.pdf
■About Mitsubishi HC Capital Management (China) Limited
Name | Mitsubishi HC Capital Management (China) Limited | ||
Representative | Keiichi Sato, Managing Director | ||
Location | Hong Kong Special Administrative Region of People's Republic of China | ||
Establishment | June 2016 | ||
Business description | Financial holding company | ||
Capital | HKD2,165 million | ||
(100% subsidiary of Mitsubishi HC Capital Inc.) | |||
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■About Subsidiaries (Sub-subsidiaries) being Merged
Surviving company | Merged company | |||||||
Name | Mitsubishi HC Capital (Hong Kong) | BOT LEASE (HONG KONG) | ||||||
Limited | COMPANY LIMITED | |||||||
Representative | Keiichi Sato, Managing Director | Keiichi Sato, Managing Director | ||||||
Location | Hong Kong Special Administrative | Hong Kong Special Administrative | ||||||
Region of People's Republic of China | Region of People's Republic of China | |||||||
Establishment | April 1975 | November 1979 | ||||||
Business | Car Finance, copiers leasing, equipment | Asset management of car finance | ||||||
description | leasing | |||||||
Capital | HKD310 million | HKD 27 million | ||||||
■About Mitsubishi HC Capital Group
Mitsubishi HC Capital was born from the business integration of Mitsubishi UFJ Lease & Finance Inc. and Hitachi Capital Corporation on April 1, 2021. Mitsubishi HC Capital Group positions "Social Infrastructure & Life", "Environment & Energy", "Mobility", "Sales Finance", and "Global Assets" as the focused fields. In addition, Mitsubishi HC Capital Group will contribute to realizing a bright and hopeful future society as well as richer life for people by creating and offering unique and progressive business to meet the ever-changing needs of society and customers in consideration of the global environment.
Please access Mitsubishi HC Capital website for the details. https://www.mitsubishi-hc-capital.com/english/
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Mitsubishi HC Capital Inc. published this content on 02 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2021 09:11:02 UTC.