Mizuho Financial Group, Inc.
Mizuho Leasing Co., Ltd.
Mizuho Leasing Co., Ltd. (President and CEO: Shusaku Tsuhara; hereinafter, "Mizuho Leasing"), an equity-method affiliated company of Mizuho Financial Group, Inc. (President & Group CEO: Masahiro Kihara; hereinafter, "Mizuho FG"), is announcing that it has reached an agreement to acquire a 51% stake in equipment leasing company Rent Alpha Pvt. Ltd. (hereinafter, "Rent Alpha," Address: Mumbai, India, unlisted) from its current shareholders, subject to regulatory approval. As a result of this acquisition, Rent Alpha will become a consolidated subsidiary of Mizuho Leasing.
Rent Alpha and its 100% subsidiary Capsave Finance provide equipment rental solutions, including IT equipment, office furniture, medical equipment, and plant & machinery, to both large and small to medium-sized companies. With a team of experienced leasing professionals, Rent Alpha has risen to become one of India's leading equipment leasing companies by market share.
By developing leasing businesses in Asia, the United States, and Australia, Mizuho Leasing is achieving the mission of "Expanding and Growing Fields of Business Within and Outside Japan," set forth in the 2019 Mid-Term Management Plan. Because of India's high macroeconomic growth and the increasing penetration of leasing as a financing tool, the leasing market is expected to expand over the long term. With this investment, Mizuho Leasing will acquire a strong foothold in India and aim to expand its business in this emerging market. By becoming a consolidated subsidiary of Mizuho Leasing, Rent Alpha will leverage Mizuho Leasing's global knowledge, scale, and brand to achieve further growth in the Indian market, where leasing is still emerging.
Mizuho FG and Mizuho Leasing have been expanding their finance and leasing businesses through a capital and business alliance established in March 2022. Mizuho leverage each other's expertise and make maximum use of their respective customer bases and networks in order to achieve mutual business growth and enhance each other's enterprise values. Together with the existing offices of Mizuho Bank, Mizuho Securities' existing subsidiary, and now Mizuho Leasing's new subsidiary, Mizuho will collaborate to drive value-added business in India, a high growth potential market with the world's fifth largest economy by GDP and strong GDP growth projections.
[Overview of Rent Alpha]
Company Name: Rent Alpha Pvt. Ltd.
Address: Mumbai, India
Business Profile: Corporate IT equipment, office furniture, and plant and machinery leasing
Year of Establishment: 2013
Name of CEO: Jinesh Jain
Name of Director: Praveen Chauhan