NTT Finance Establishes U.K. Subsidiary
On April 11 (Thur.), 2019, NTT Finance Corporation (head office: Minato-ku, Tokyo; President: Yoshikiyo Sakai) established the wholly owned U.K. subsidiary NTT Finance UK Limited to offer financial support to the NTT Groupís European expansion.
- 1. Background and aims
- As outlined in its medium-term management plan, the NTT Group is seeking to strengthen its global competitiveness. Concurrently, the Group is also implementing various global growth strategies under its ďOne NTTĒ slogan. In line with these goals, NTT Finance has already established business sites in Singapore, New York, and other locations, all of which are providing financial support to global operations.
Since last year there has been growing demand for financial backing in various ICT-related areas, including the data center sector. To respond to these needs, we have taken the decision to establish this hub in the United Kingdom. As well as providing support to the NTT Groupís operations in Europe, the new company will strengthen the foundations for procuring foreign currencies, as well as for our aircraft and ship financing businesses. In this way, NTT Finance UK Limited will play a key role in enhancing our global management structure.
- 2. Business activities
- (1) Financial services to aid companies throughout the NTT Group
NTT Finance UK Limited will seek to provide comprehensive financial support to promote the advancement of NTT Group businesses. It will work to uncover latent needs of NTT Group companies and their clients, and provide optimal financial services that combine leasing, loans, factoring, and guarantees.
- (2) Financing
The NTT Groupís global expansion has led to increased demand for foreign currencies. Along with New York, NTT Finance UK Limited will seek to strengthen relationships with financial institutions from its base in London, and build a management structure with stable procurement sources. Specifically, it will aim to diversify sources for the procurement of foreign currencies, improve liquidity ratios, and reinforce the Groupís ability to respond to market changes.
- (3) Strengthening the foundation of our aircraft and ship financing business
Europe is home to a wide range of outstanding aircraft- and ship-related companies, as well as various cities where a wealth of information on the two industries can be found, such as Dublin and London. NTT Finance UK Limited will be responsible for efficient communication with clients, and will round up the latest knowledge on the aircraft and ship industries. It will target improved profitability and enhanced risk management.
- 3. Profile of U.K. subsidiary
- (1) Company name: NTT Finance UK Limited
- (2) Address: 1 King William Street, London EC4N 7AR
- (3) Representative: Junya Watanabe
- (4) Capital: UK£3,500,000
- (5) Shareholder ratio: Wholly owned by NTT Finance
- (6) Date of establishment April 11, 2019 (Thur.)
Media inquiries regarding this press release:
NTT Finance Corporation
Corporate Strategy Planning Department, Public Relations Division
The information contained in this announcement is accurate as of its date of release.
Please be aware that current information may differ to that contained in this announcement.
Thank you for your understanding.