TOKYO: Mitsubishi UFJ Lease & Finance Company Limited has announced that its consolidated subsidiary U-MACHINE Inc. has established U-MACHINE (CHINA) CO., LTD., a local subsidiary in Shanghai. U-MACHINE is a general trading firm of used machinery.

In China, as a consequence of recent matters including increase in labor costs, environmental regulation, and U.S.-China trade friction as a backdrop, Japanese companies are becoming active in withdrawing, relocating, and downsizing their business.

As a result, needs for relocation and sales of redundant machines and equipment are increasing. In addition, with the increase in replacement and upgrade of equipment in private companies due to the influence of the Chinese government-led advanced industrial policy, demand to purchase high-performance, Japanese-made used machinery is growing. The market is expected to expand.

This establishment of an overseas local subsidiary by U-MACHINE is the second business location following Thailand, where U-MACHINE (THAILAND) CO., LTD. was established in April 2012.

U-MACHINE aims to solve all equipment-related issues customers have by providing integrated solutions. Such solutions combine businesses which include appraisals and sales of equipment, support for equipment relocation and demolition of fixed properties inside and outside Japan.

With sales offices and resource centers (machine centers) in Japan (Kanto, Chubu, and Kansai areas) and in Thailand, U-MACHINE takes pride in being a top-class domestic company in terms of business scale and recognition within the industry.

Through this establishment of a local subsidiary in China, U-MACHINE will make a full-scale entry into the Chinese used machinery market ahead of all others as a Japanese general trading firm of used machinery.

It will respond to various equipment-related needs by providing one-stop services which include support for overseas equipment relocation, equipment sales, and appraisal of existing equipment.

Through the efforts of U-MACHINE Group, Mitsubishi UFJ Lease & Finance Group  will work to further accumulate expertise and know-how to solve equipment-related issues which customers have, and will aim to further expand and develop asset-value-dependent businesses by organically connecting the gained experience with the Group’s functions.