Hitachi Capital Business Finance set to be rebranded
Hitachi Capital Business Finance, a division of Hitachi Capital (UK) PLC, recently announced that it will be rebranding under the new trading style of NOVUNA Business Finance by April 2022.
At the same time, Hitachi Capital (UK) PLC will change its legal name to Mitsubishi HC Capital UK PLC, following the merger earlier this year of Hitachi Capital Corporation with Mitsubishi UFJ Lease and Finance Company Limited, forming Mitsubishi HC Capital Inc.
The rebrand to Novuna, which means ‘new together’, is a significant move for the company and marks the start of a new era as the business accelerates its growth plans under its new parent company.
“Having a trading style that is short, memorable and engaging will allow us to make a seamless transition as we enter an exciting new era for our business,” said Geoff Maleham, Managing Director.
“Adopting our new brand name represents our outlook as a forward-thinking business, responding to evolving customer expectations by providing innovative solutions, including credit automation.”
Each of the other business divisions within Hitachi Capital UK will also operate under Mitsubishi HC Capital UK PLC’s Novuna trading style, including Novuna Consumer Finance, Novuna Personal Finance, Novuna Vehicle Solutions and Novuna Business Cash Flow (previously Invoice Finance).
The European division will adopt the Mitsubishi HC Capital trading style, as part of its collaboration with the parent company, Mitsubishi HC Capital Inc.
The change indicates an evolution from a manufacturing-based heritage to a new global financial powerhouse.
The backing of Mitsubishi HC Capital Inc. provides Novuna with the opportunity to leverage the size, scale and expertise of its new parent company in an attempt to realise the company’s ambitions. The new name is the first stage of the business’s transformation.