April. 08, 2014
On April 1, 2014, to address the needs for financing in the quickly growing Southeast Asian market, NTT Finance Corporation (head office: Minato-ku, Tokyo; President: Koichi Maeda) established the wholly owned subsidiary NTT Leasing Singapore Pte. Ltd. in the Republic of Singapore, a core ASEAN country with high international competitiveness. Operations will begin on May 1, 2014.
- 1. Objectives for establishing the Singapore subsidiary
- (1) To provide financing for NTT Group companies' overseas development
- Diversified, high-level, and ever more globalized services are rapidly being developed in the field of ICT, and NTT Group companies are actively expanding in different countries to develop international business.
In the Southeast Asian region, where many NTT Group companies are located, as expansion takes place in data centers and the cloud computing business, there exist rising needs for financial solutions such as leasing and factoring. By establishing a local subsidiary and providing financing for the NTT Group, NTT Finance plans to contribute to a global synergy and expand profits.
- (2) Expanding the aircraft finance business
- NTT Finance positions global assets as a growth area for the fact that they demonstrate high liquidity and value in the global market, such as aircraft and ships, and has to date engaged in promoting various efforts, such as establishing special organizations to exclusively address these areas.
In the field of aviation, the rise of low cost carriers (LCC) and other factors continue to facilitate the expansion of global air transport, and further growth is anticipated in the aircraft finance market. Establishing a subsidiary to extend business operations in this climate is aimed at responding to the need for aircraft finance in Asia and the Pacific, where high future growth is expected.
- (3) Collecting international financial data related to foreign currency procurement and serving investors
- In the NTT Group, needs are rising sharply for foreign currency funds accompanying the global rollout of business. NTT Finance, as the core financial company of the NTT Group, plans to collect information of all kinds and to serve investors in Singapore, a rapidly growing international financial center on par with New York and London, to facilitate the agile and efficient procurement of foreign currency.
NTT Finance sees that the issuance of Eurobonds based on various currencies is an important means of procuring foreign currency, for which reason it listed its Euro Medium Term Note (EMTN) program on the Singapore Exchange in 2012.
- 2. Outline of the newly established subsidiary
|(1) Company name||NTT Leasing Singapore Pte. Ltd.
|(2) Address||20 Pasir Panjang Road, #11-28
|Mapletree Business City, Singapore 117439
|(Within the offices of NTT Singapore Pte. Ltd.)
|(3) Representative||Takashi Kuwabara
|(4) Capital||US$2 million
|(5) Shareholder||NTT Finance Corporation: 100%
|(6) Established||April 1, 2014 (Scheduled to begin operation May 1, 2014)