Mizuho Leasing : Announcement of entering into a joint venture through transferring equity interests in MAC Trailer Leasing, Inc
January 30, 2020 at 08:54 am EST
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Mizuho Leasing Co., Ltd. ('Mizuho Leasing') and Marubeni Corporation ('Marubeni') hereby announce that today, they have resolved that 50% of the equity interests in MAC Trailer Leasing, Inc. (a.k.a PLM Trailer Leasing, 'PLM'), a wholly owned subsidiary of Marubeni Group operating a refrigerated trailer leasing and rental business in the U.S., will be transferred to Mizuho Leasing though Mizuho Leasing's U.S. subsidiary (the 'Transaction').
Background of the Transaction
Mizuho Leasing recognizes in its Sixth Mid-Term Management Plan implemented in 2019 that incorporation of nonorganic growth,such as global expansion of business base and collaboration in overseas asset finance, is a challenge for the Mizuho Leasing Group to grow exponentially going forward, and has taken on the challenge to enter into new business fields.
Marubeni aims to further grow and expand its existing lease financing businesses, including aircraft, freight car, automobile and trailer businesses in the U.S., and aims to develop new lease businesses, mainly overseas, as Marubeni considers its finance and leasing business to be one of its growth areas. Marubeni entered the refrigerated trailer leasing and rental business in 2000, and since then has participated in the operation of PLM, through which Marubeni has accumulated knowledge and expertise in the refrigerated trailer leasing and rental business as well as in the cold chain industry, and in parallel has been leveraging the PLM technology platform to improve customer fleet efficiency and proactive service development.
Mizuho Leasing and Marubeni intend to jointly develop the lease financing business overseas through the business alliance started in March 2019. In November 2019, Mizuho Leasing and Marubeniannounced the acquisition of shares of AIRCASTLE LIMITED, a company that leases aircrafts globally, through a joint investment. Mizuho Leasing and Marubeni have been deepening collaboration to mutually maximize profits by taking advantage of Mizuho Leasing's extended knowledge and sophisticated financing expertise accumulated through its businesses activities to date, and Marubeni's global network and ability to build businesses in all kinds ofindustries and distribution channels.
After discussions between the companies, Mizuho Leasing and Marubeni have approved the Transaction today, as Mizuho Leasing aims to further expand its business base and improve its presence in the global market through its collaboration with Marubeni in the asset finance business in North America, while Marubeni aims to expandand stabilize the same business by utilizing Mizuho Leasing's extended expertise and credit-worthiness in a wide range of businesses.
Mizuho Leasing Company, Limited, formerly IBJ Leasing Company, Limited, is mainly engaged in lease, installment sales and various financial transactions for industrial machinery, transportation equipment, information-related equipment. The Company operates in three business segments. The Leasing and Installment segment is engaged in the installment sales business of leasing operations (including expiration of lease transactions and property sales due to halfway cancellation) and production facilities, construction earthmoving machines, commercial facilities etc. for industrial machine tools, transportation equipment, information related equipment. The Finance segment is involved in corporate finance, ship financing, factoring business and investment business of securities owned to earn profits for business purpose. The Others segment is engaged in used property buying and selling, solar power selling business.
MIZUHO LEASING COMPANY, LIMITED 
