Hitachi Capital Business Finance, a division of Hitachi Capital (UK) Plc, is to rebrand as NOVUNA Business Finance by April 2022, the company said in a press release
The move will coincide with Hitachi Capital (UK) Plc changing 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.
In a statement, the company said the change indicates “an evolution from a manufacturing-based heritage to a new global financial powerhouse with the scale and expertise to drive change for business partners and consumers”.
Why is Hitachi rebranding to Novena
Hitachi are rebranding to Novuna business finance at it marks the start of a new era as the business accelerates its growth plans under its new parent company. The name Novuna means ‘new together’.
“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 team stays the same.
Geoff Maleham, managing director of Hitachi Capital Business Finance spoke about the rebrand and stated “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.
“Through the range of financial products we offer, we’re committed to providing outstanding service and building on the relationships we have established by working together with our network of introducers.
“As the fifth-largest asset finance provider in the UK, increasing our market share year on year, the Novuna brand provides our business with a clear point of differentiation whilst leveraging the funding capability of our new multi-national parent company.”
Novena holding company
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 with the scale and expertise to drive change for business partners and consumers.
The business moves into the transition to Novuna in a strong position with a long track record of sustained success and is now poised for significant further growth.
The foundations are in place for an exciting next phase for the business, which is firmly rooted in growth, sustainable interests and advancements in technologies, constantly exceeding customer expectations.
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 order to realise the company’s ambitions. The new name is the first stage of the business’s transformation.
Novuna is a trading style of Mitsubishi HC Capital UK PLC, which will become Hitachi Capital (UK) PLC’s new company name in February 2022.
Has Hitachi Finance changed its name?
Yes, Hitachi Finance has changed its name to Novuna Business Finance, which means ‘new together’.
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