UFJ Holdings Inc., Japan’s fourth-biggest banking group, said Thursday it will buy a leasing subsidiary of Nippon Shinpan Co. through the purchase of new shares.
UFJ Holdings said the purchase of Nippon Business Lease is aimed at strengthening its financial business with small and medium-size companies.
UFJ Holdings said Sanwa Bank, one of its three group banks, will purchase around 8 billion yen of the roughly 9.8 billion yen in new shares to be issued by the leasing company, to be renamed NBL Co., by the end of July, giving it a 79.75 percent stake.
Nippon Business Lease is now capitalized at 180 million yen and has about 380 employees.
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