Mitsubishi Motors Corporation completed the acquisition of remaining 53% stake in MMC Diamond Finance Corporation from Mitsubishi UFJ Lease & Finance Company Limited and Tokio Marine & Nichido Fire Insurance Co., Ltd.
April 01, 2018
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Mitsubishi Motors Corporation (TSE:7211) agreed to acquire remaining 53% stake in MMC Diamond Finance Corporation from Mitsubishi UFJ Lease & Finance Company Limited (TSE:8593) and Tokio Marine & Nichido Fire Insurance Co., Ltd. for ¥6.9 billion on March 27, 2018. Under the terms, Mitsubishi Motors Corporation will acquire 0.1 million shares and Mitsubishi UFJ Lease & Finance Company Limited will receive ¥6.5 billion for selling 0.09 million shares amouting to 50% stake and Tokio Marine & Nichido Fire Insurance Co., Ltd will receive ¥390 million for selling 3% stake. Post acquisition, Mitsubishi Motors Corporation will increase the shareholding from 0.09 million shares (47%) to 0.2 million shares (100%) in MMC Diamond Finance Corporation.
MMC Diamond Finance Corporation reported consolidated net assets of ¥25 billion and consolidated total assets of ¥299.07 billion as at March 31, 2017. MMC Diamond Finance Corporation reported consolidated sales of ¥26.3 billion during the year ending March 31, 2017. The transaction is resolved by the Board of Directors of Mitsubishi Motors Corporation and Mitsubishi UFJ Lease & Finance Company Limited. The transaction is expected to close on April 2, 2018.
Mitsubishi Motors Corporation (TSE:7211) completed the acquisition of remaining 53% stake in MMC Diamond Finance Corporation from Mitsubishi UFJ Lease & Finance Company Limited (TSE:8593) and Tokio Marine & Nichido Fire Insurance Co., Ltd. on April 2, 2018.
Mitsubishi HC Capital Inc, formerly Mitsubishi UFJ Lease & Finance Co Ltd, is a Japan-based company mainly engaged in the financial business. The Company operates in two business segments. The Customer Finance segment is engaged in the finance lease and installment sale of machinery, equipment and fixtures, as well as the provision of monetary loan services and other related financial services. The Asset Finance segment is engaged in the operating lease of machinery and transportation equipment, the investment and loan businesses related to real estate, the management of securities, the finance business related to aircrafts and ships, as well as the leasing of office buildings.
Mitsubishi Motors Corporation completed the acquisition of remaining 53% stake in MMC Diamond Finance Corporation from Mitsubishi UFJ Lease & Finance Company Limited and Tokio Marine & Nichido Fire Insurance Co., Ltd.
MITSUBISHI HC CAPITAL INC. 
