Mitsui agrees to JA Mitsui Leasing and Norinchukin’s participation in its wholly owned subsidiary in the railcar leasing business.
Mitsui & Co have entered into an agreement with JA Mitsui Leasing and The Norinchukin Bank on their participation in Mitsui Rail Capital which operates a railcar leasing business in North America. JAML and Norinchukin will acquire shares of MRC through their newly established special purpose company, JAML MRC Holding, Inc. Following this transaction, Mitsui and JMRCH will hold 50% of MRC’s equity shares, respectively.
Mitsui entered into the rolling stock leasing market by establishing MRC, and has expanded its business to Europe, Brazil, and Russia. MRC currently leases approximately 8,300 railcars (valued at approx. USD 400 million) for railroad companies, electric utility companies, and mining companies. With the participation of JAML and Norinchukin, MRC’s plan is to double its business size.
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