HONDA FINANCIAL SERVICES GROUP, INC.
(NYSE: HFS) today announced that it has entered into a definitive agreement to acquire the business, business services and technology of HFS in an all-cash transaction.
The transaction is expected to close in the fourth quarter of 2018, subject to customary closing conditions.
The deal is expected primarily to provide enhanced financial services to the Japanese automotive company.
Honda Financial Group’s portfolio includes automotive finance and investment banking, automotive insurance, vehicle servicing, and financial services.
In addition, HFS provides an advanced financial technology and investment advisory platform for the Japanese automobile industry.
“We believe the acquisition of HOF will help us provide more value for our customers and provide a competitive advantage to our customers in the Japanese market,” said Tomino Masayuki, Chairman and CEO of Honda Financial.
“This acquisition will also be a good fit for our existing operations in Japan.”
The deal will provide HOF with increased flexibility in how it delivers financial services and provides HOF access to a broad portfolio of financial services offerings in Japan, including an enhanced portfolio of investment banking and investment management services, as well as advanced investment advisory.
“HOF is a leading financial services provider and a leading provider of advanced financial services for the automotive industry.
We look forward to working with Honda Financial to enhance our financial services portfolio in Japan,” said Masayukuho Yasuda, President and CEO, Honda FinancialGroup.
“The acquisition of the financial services business from Honda Financial will provide an excellent opportunity for our shareholders and the Japanese business community to get involved in the automotive market.
It will also allow us to provide greater liquidity to our existing business and improve our liquidity strategy for the future,” added Masayuzu.
HOF is one of the world’s largest financial services companies and is the leader in global financial services in Japan.
The company has offices in Tokyo, Tokyo, Osaka, Fukuoka, Kobe, and Fukuoki.
The financial services group also has operations in Osaka, Kyoto, Kyoto Prefecture, and Tokyo.
HFS has a global network of financial institutions with offices in over 20 countries, including: London, U.K., Hong Kong, Singapore, Shanghai, Taipei, Hong Kong and Hong Kong Supervisors.
For more information, please visit houstonfinancegroup.com, or call 800-634-0075.