TOKYO--(BUSINESS WIRE)--Hitachi Capital Corporation and the Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), a subsidiary of Mitsubishi UFJ Financial Group, Inc. agreed today that 8,000,000 shares of the stock of NBL Co., Ltd. held by BTMU (40% of the total number of issued shares) will be transferred to Hitachi Capital. Transfer of shares and delivery of payment are scheduled on October 31, 2011, on the assumption that the authorities concerned give approval.
So far, Hitachi Capital and NBL have supported IT investment concerning business equipment and information-related equipment, etc. in small- and medium-sized enterprises by providing leases through vendors. Hitachi Capital positions its vendor lease* business as a priority core business.
Hitachi Capital and NBL have decided to form a capital alliance, aimed at both companies' establishing the best vendor lease business in Japan in respect of customer base, market share and product competitiveness, etc. by bringing together and using each other's knowhow and capability.
In the future, Hitachi Capital and NBL will, by bringing the knowhow which both companies have acquired so far, develop and provide new business models for vendors who are important partners in the vendor lease business, which will contribute to the vendors' sales promotion. In addition, Hitachi Capital and NBL will support introduction of IT and promotion of business efficiency, etc. in small- and medium-sized enterprises, etc. in Japan, through providing vendor leasing.
Furthermore, after acquisition of the relevant shares, Hitachi Capital intends to consider acquisition of all of NBL's remaining issued shares by the end of fiscal year 2013.
Hitachi Capital will promptly disclose the decision of such acquisition as soon as the relevant consultation is completed.
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* Vendor Lease: Lease agreements to be entered into with customers by lease companies through customer mediation or representative services for office procedures by dealers who are in alliance relationships with lease companies via entering into dealership agreements with lease companies or in any other manners. |
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Outline of the Relevant Companies |
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| (1) | Trade Name |
Hitachi Capital Corporation |
NBL Co., Ltd. | ||||||
| (2) | Capital | 9,983 million yen | 10,000 million yen | ||||||
| (3) |
Number of Issued |
124,826,552 shares | 20,000,000 shares | ||||||
| (4) | Total Assets | 1,562,410 million yen | 178,771 million yen | ||||||
| (5) | Revenues |
92,018 million yen (operating |
60,475 million yen | ||||||
| (6) | Ordinary Profit | 17,630 million yen | 1,012 million yen | ||||||
| (7) | Net Income | 6,234 million yen | 376 million yen | ||||||
| (8) | Major Shareholders | Hitachi, Ltd. | 54.76% |
The Bank of |
79.75% | ||||
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Mitsubishi UFJ NICOS |
10.00% | ||||||||
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Mitsubishi UFJ Lease & |
5.25% | ||||||||
| Sanshin Co., Ltd. | 5.00% | ||||||||