Hitachi Capital Consumer Finance to rebrand as Novuna next year

 

Hitachi Capital Consumer Finance, a division of Hitachi Capital (UK) PLC, has announced that it will be rebranding under the new trading style of NOVUNA Consumer Finance by April 2022, while Hitachi Personal Finance will become NOVUNA Personal Finance.  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 one of the world’s largest and most diversified financial groups.

The rebrand to Novuna, which means ‘new together’, is a significant move for the company and marks the start of an exciting new era as the business accelerates its growth plans under its new parent company.

“Both the retail and loans market we operate in are rapidly changing and so are we,” said Vincent Reboul, Managing Director.

“As one of the UK’s leading providers of retail point of sale finance, working with over 3,200 retailers across a range of sectors, the Novuna brand provides our business with a clear point of differentiation whilst leveraging the funding capability of our new multi-national parent company.”

“Our new brand name is also readily aligned to our digital transformation programme which is enabling us to create unique customer experiences for our retailers and personal loans customers to meet their needs which have evolved during the Covid-19 pandemic.”

“Adopting Novuna as our new trading style provides the business with the opportunity to build a unique brand in a changing world, further enhancing our reputation for providing outstanding customer experiences. This change marks the start of an exciting new era for us and our customers.”

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 Vehicle Solutions, Novuna Business Finance 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 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.

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