Hitachi Capital Consumer Finance to rebrand as Novuna after merger with Mitsubishi

Added: 13th September 2021

Hitachi Capital Consumer Finance has announced a major rebranding. From early next year, Hitachi Capital (UK) PLC will be known as Novuna, and Hitachi Consumer Finance will become Novuna Consumer Finance. 

At the same time, the business will change its corporate name from Hitachi Capital (UK) PLC to Mitsubishi HC Capital UK PLC. This follows the merger earlier in 2021 of Mitsubishi UFJ Lease and Finance Company Limited (MUL) and Hitachi Capital Corporation (HC) which means the company is now part of one of the world’s largest and most diversified financial groups.

In a statement released today (September 13), Brian Flesk, head of retail at Hitachi Capital Consumer Finance, said: “Novuna is derived from the Latin words Novo – ‘to make new’ and Una – ‘together’, which captures the essence of our business and how we work in partnership to create innovative solutions, to support our customers through rapid change. The rebrand is a significant move for our company and marks the start of an exciting new era as we accelerate our growth plans under our new parent company. It also aligns perfectly with our digital transformation programme which is driving efficiencies across our retail and personal loans channels.”

He added: “Our name maybe changing but we’re still the same company and the same people behind the new brand, and our promise to you remains the same. We’re committed to supporting you and your customers by delivering innovative solutions and outstanding customer experiences. Your relationship management team and the products/services and systems you use with us, will remain the same and you can still reach us through all the normal channels you use today. It is very much business as usual and as we move forward together, we’ll be in a far stronger position to help your business grow.”

Commenting on the rebranding, Matt Sheldrake, managing director of Retracare, said: “As with all businesses, the past 18 months has been highly challenging, and for most, the future direction of travel has altered, with our finance partner, Hitachi, being no exception. Retra has and will continue to work closely with Hitachi and will be supporting the communication roll-out to all members, starting from October, in anticipation of the switchover in March 2022.”

Retra and Hitachi are planning webinars on September 28 (10am) and October 5 (10am), which will cover the changes and also provide training and support on the new CreditMaster3 finance system. Login details will be provided shortly.

You can download the letter from Brian Flesk by clicking HERE.