Hitachi Capital is looking to enter Germany as part of a strategy to expand its vehicle solutions business within Europe, according to Simon Oliphant, head of vehicle solutions strategy division (Japan).
The acquisition of Noordlease in February 2017 formed part of a wider strategy of European expansion of the vehicle solutions arm of the company, starting with ‘priority countries’.
Oliphant told Leasing Life: “I took a new role which was to fulfil that global strategy and develop a strategy to expand into new territories, and the principle one for me is Europe.
“We have some priority countries, of which the Netherlands was one of those. I came across Noordlease some time ago, and felt they had a good strategic fit for us.”
Leasing Life was told that Germany is a key market Hitachi Capital seeks to enter, owing to its size, and convenience as a location for close by German-speaking countries. Oliphant also said that Hitachi Capital having a presence in Germany would further enable its European growth plans for vehicle solutions.
He added: “We want to be able to support [our customers] Europe, and if you're going to do that, you need to be in Germany. There's a lot of international company presence.”