Leading UK Finance Provider Becomes NOVUNA Today Following Merger Of Two Global Financial Heavyweights

Monday 14th February 2022

  • The rebrand under the new trading style of NOVUNA takes place at the same time the company formally changes its name from Hitachi Capital (UK) PLC to Mitsubishi HC Capital UK PLC. The changes are a result of the merger last year of its parent company, Mitsubishi HC Capital Inc.
  • Novuna is part of one of the world’s largest and most diversified financial groups with over JPY9 trillion (£60bn) of assets

14 February 2022: Today marks the start of a new era for one of the UK’s leading financial services companies, as Hitachi Capital (UK) PLC becomes Mitsubishi HC Capital UK PLC, trading in market as Novuna in the UK and as Mitsubishi HC Capital group in Europe.

The company, which employs over 1,600 and manages more than £6.3bn of net earning assets for over 1.3 million customers, is now part of one of the world’s largest and most diversified financial groups, comprising over £60bn of assets.

The launch of the Novuna brand was first announced in September 2021 as a trading style of the newly formed company Mitsubishi HC Capital UK PLC. The formation of the new company follows the merger in April 2021 of its parent company Hitachi Capital Corporation with Mitsubishi UFJ Lease & Finance Company Limited, creating the new parent Mitsubishi HC Capital Inc.

From today, each of Mitsubishi HC Capital UK’s business divisions will operate under the new trading style of Novuna, which means ‘new together’. These include: Novuna Vehicle Solutions, Novuna Consumer Finance, Novuna Business Finance and Novuna Business Cash Flow (previously Invoice Finance). In addition, Novuna Personal Finance, the loans channel of Novuna Consumer Finance, replaces the Hitachi Personal Finance brand.

The European division will adopt the Mitsubishi HC Capital trading style as Mitsubishi HC Capital UK and Mitsubishi HC Capital Europe.

The rebrand marks the business’ evolution from its manufacturing-based heritage to a new global financial powerhouse, operating as part of one of the world’s largest and most diversified groups, with the scale and expertise to drive change for business partners and consumers as one of the most trusted financial services brands in the UK and Europe.

As the business embarks on this new era, major priorities include large-scale digitisation of products and increasing levels of automation to enhance customer experiences for individuals and corporates. These measures will help the business to continue leading the change in financing the electric vehicle transition, fuelling sustainable innovations and applications in the energy industry, and funding future growth in every corner of society.

Marking the launch, Robert Gordon, CEO, Mitsubishi HC Capital UK PLC, said:

“More than 1.3 million customers across the UK have come to trust and rely on the Hitachi Capital brand to fund the growth of their businesses, their fleets, and give a boost to their personal finances. As we set out on this exciting new era together under the Novuna umbrella, we will not be departing from the core values that have served us so well for the past 40 years.

“At a time when the hopes and expectations of businesses and consumers are evolving at pace, it is important that we present a bold, ambitious, and authentic image to our current and future customers. Our brand reflects our mission to unlock the potential of individuals, businesses and society by delivering innovative solutions and outstanding customer experiences.”

-ENDS-

Notes to Editors:

Novuna is a trading style of Mitsubishi HC Capital UK PLC, created from the Latin words Novo – New and Una – Together.

To find out more about Novuna Consumer Finance, visit: www.novuna.co.uk and  new social channels across LinkedIn, Twitter and Facebook.

About Novuna

Novuna is a trading style of Mitsubishi HC Capital UK PLC, the new name for Hitachi Capital (UK) PLC and a leading financial services company, authorised and regulated by the Financial Conduct Authority (FCA). We have over 1,600 employees, £6.3bn of net earning assets and over 1.3 million customers across five business divisions; Novuna Consumer Finance, Novuna Vehicle Solutions, Novuna Business Finance, Novuna Business Cash Flow and our European division specialising in Vendor Finance. For over 40 years, formerly as Hitachi Capital (UK) PLC, we have worked with consumers and small to medium enterprises (SMEs) as well as corporate multinationals in the UK and mainland Europe, enabling millions of consumers and businesses to achieve their ambitions.

From 1 April 2021 we became a wholly owned subsidiary of Mitsubishi HC Capital Inc., strengthening our relationship with one of the world's largest and most diversified financial groups with over £60bn of assets.

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