Mitsubishi UFJ Lease says to merge with Hitachi Capital (updated)

Mitsubishi HC Capital

24/09/2020 06:54

(Adds details)
    TOKYO, Sept 24 (Reuters) - Japan's Mitsubishi UFJ Lease
 8593.T  said on Thursday it would merge with Hitachi Capital
Corp  8586.T  in the spring of 2021, a move that would create a
major heavyweight in the leasing industry.
    A Mitsubishi UFJ Lease spokesman confirmed the plans, which
were reported earlier by Diamond magazine online. A spokesman at
Hitachi Capital declined to comment.
    The Tokyo Stock Exchange suspended trading in both
companies' shares following the report.
    The combined revenue of the two companies will be around 1.4
trillion yen ($13.3 billion), according to a Reuters
calculation. That means the new company will stand at the second
biggest in the lease industry, Diamond reported.
    

 (Reporting by Takashi Umekawa, Hideyuki Sano
Writing by Chang-Ran Kim; editing by David Dolan)
 ((ran.kim@thomsonreuters.com; +81-3-4563-2740))