Hitachi Capital to set up property leasing joint venture in Indonesia

30, Oct. 2019

JAKARTA, NNA - Hitachi Capital Corp., a financial arm of Japanese electronics giant Hitachi Ltd., will launch a real estate business in Indonesia to expand its overseas operations.

Hitachi Capital said in a statement released Monday that its wholly owned developer, Hitachi Capital Community Corp., will establish a joint venture, tentatively named PT HD Properti Indonesia, with capital of 580 billion rupiah ($41 million).

Hitachi Capital Community will hold a 63.4 percent stake in the venture, the statement said, without mentioning other stakeholders.

The venture, Hitachi Capital Community's first overseas subsidiary, will lease properties owned by an unnamed Japanese real estate firm in the Southeast Asian country, a Hitachi Capital spokeswoman told NNA on Monday.

In Indonesia, Hitachi Capital has been engaged in automobile finance and corporate finance services through its subsidiaries PT. Arthaasia Finance, and PT. Hitachi Capital Finance Indonesia, respectively. (NNA/Kyodo)