International Business

TISCO Tokyo Leasing Co., Ltd., our joint venture with TISCO Financial Group PCL, a major financial group in Thailand, became a consolidated subsidiary, enabling us to further expand business in the growing Thai market.

BPI Century Tokyo Lease & Finance Corporation is a Philippine-based leasing subsidiary of Bank of the Philippine Islands (BPI), the oldest and largest bank in Southeast Asia. This new joint venture partnership with BPI has enabled us to expand and diversify our business base in the Philippines.

CSI Leasing, Inc., the largest independent leasing company in the U.S., which mainly handles IT equipment, became our equity-method affiliate. This strengthened the global expansion of our leasing and finance business centered on IT equipment and served as a milestone marking the drastic growth of the business.

We made CSI Leasing, Inc. a wholly owned subsidiary after converting it into an equity-method affiliate in 2015, helping us to realize a leading world-class global network and provide one-stop services throughout the life cycle of leased properties to customers expanding their businesses worldwide.

The JCM is a mechanism for forming partnerships between Japan and developing countries in order to reduce greenhouse gas emissions. Our project in the Philippines, the first by a Japanese financial services company, was adopted in 2018. Since then, our projects in the Philippines, Thailand, Indonesia, Myanmar, and India have been adopted, producing the best results among financial service companies in Japan.

Together with Nippon Telegraph and Telephone Corporation (NTT) and NTT Global Data Centers Corporation, we launched a data center business in India. We gradually expanded the construction and operation of data centers in India with plans to build up to 13 of these facilities.

In June, we acquired shares of Work Truck Direct, Inc., a U.S. dealer that specializes in the niche market of special-purpose vehicles and equipment, with strengths related to small and medium-sized trucks for e-commerce as well as equipment and vehicles for arbor work. In December, we acquired a stake in Fiber Marketing International, Inc., which provides comprehensive services including sales, after-sales service, and rental of small construction equipment as well as arbor equipment and vehicles, mainly in the state of Washington. These acquisitions strengthened our one-stop service system, which integrates everything from leasing and financing to sales and after-sales service for specialized equipment.

In collaboration with ITOCHU Corporation and Hitachi Construction Machinery Co., Ltd., we established ZAXIS Financial Services Americas, LLC, a joint venture that provides sales financing for construction machinery sold by the Hitachi Construction Machinery Group in North America. Our goal for this venture was to provide a more competitive financing menu to customers in the construction machinery market in North America.