Hitachi Capital Corporation has acquired 100% of the share capital of fleet management and leasing firm Maske Fleet GmbH as it expands its vehicle solutions business further in Europe.

The acquisition of Maske will provide Hitachi Capital Corporation with a presence in Germany, Austria and Denmark, with plans to expand into the Nordic region

One of Japan’s largest non-bank financial institutions and an affiliate of both Hitachi Ltd and Mitsubishi UFJ Financial Group Inc, Hitachi Capital Corporation already operates fleet management and leasing firms in the UK and, more recently, in Poland and the Netherlands, and is looking to expand further in Europe.

Founded in 1959, Maske provides car and LCV rental/leasing and fleet management solutions and operates through 12 service centres covering key cities in Germany and Austria; Hitachi Capital said Germany’s track record of five consecutive years of rising new vehicle registrations and leasing penetration made it a key country for its European expansion strategy.

Maske also has a presence in Denmark, which Hitachi Capital will use as an entry point for expanding into the Nordic region.

Commenting on its plans, Hitachi Capital Corporation said it would continue to expand its existing operations as well as its geographic presence and scale in Europe, complementing its current operations.

A spokesperson added: “This platform will provide the basis for supporting local and international customers, including private individuals, SMEs and large corporates. Increased scale and the use of innovative technology and the development of mobility services will enable Hitachi Capital to meet the ever-changing needs of society and customers.”