NTT Finance Corporation (head office: Minato-ku, Tokyo; President: Koichi Maeda) on November 1, 2015 has opened a new business office in New York, as a spearhead of its U.S business operations led by its fully-owned U.S. subsidiary NTT Leasing (U.S.A.), Inc. Recently NTT Finance has been strengthening its global operations, such as through the establishment of a local subsidiary in Singapore in 2014. With a view to continued expansion, this most recent move marks another step toward the strengthening of NTT Finance's global organization, and the establishment of more diversified and stable fundraising sources for foreign currencies.
- 1. Background to establishing a new business office
- Amid rapidly proliferating service diversity, complexity, and globalization in ICT, NTT Group companies have been accelerating their expansion of global operations worldwide. Particularly in the North American region, where many NTT Group companies have been achieving significant growth in terms of local footprint, customer base and business size, growth in the data center and cloud businesses has been driving mounting demand for a wide variety of financial services, including commercial lending, leasing, and factoring.
- Moreover, growing financing requirements associated with global business initiatives have been spurring foreign currency financing, giving rise to the urgent need to create and strengthen mechanisms for stable foreign-denominated financing, mainly in U.S. dollars.
- 2. Operations of the new business office
- (1) Provision of financial services aligned to support the overseas business development of NTT Group companies
- Through the establishment of this new business office, NTT Finance will provide financial services best suited to the requirements of NTT Group companies and the needs of their customers.
- By way of initiatives such as this, in conjunction with NTT Finance's accumulated expertise, NTT Finance will create a sound business base in North America going forward.
- (2) Financing
- As the core financial arm of the NTT Group, NTT Finance will create frameworks allowing stable foreign-denominated financing by further strengthening its relations with financial institutions in the U.S. (the home market of the U.S. dollar), and diversifying fundraising sources for foreign currencies, increasing liquidity, and reinforcing response capabilities to market changes.
3. Profile of NTT Leasing (U.S.A.)
|(1) Company name
||NTT Leasing (U.S.A.), Inc.
||757 Third Ave., New York, NY 10017
||(Office premises of NTT America, Inc.)
|(5) Business office opening date
||November 1, 2015 (Company established: July 20, 1989)