Bisnis.com, JAKARTA - PT Arthaasia Finance stated that the official merger or merger with PT Hitachi Capital Finance Indonesia could strengthen the company's business, because the two companies previously engaged in different financing fields. President Director of Arthaasia Finance Ryuichi Inoue explained that since July 1, 2021, the merger between the company and Hitachi Capital Finance Indonesia has become effective. After the merger, the applicable company name is Arthaasia Finance. Ryuichi explained that the two companies have different business focuses. The business merger is considered to have a synergistic effect so as to strengthen Arthaasia Finance's position in the Indonesian financing industry. "Hitachi Capital Finance Indonesia is a non-car leasing & financing company, while Arthaasia Finance specializes in car financing, therefore we expect there to be a greater synergy effect in the future," Ryuichi wrote in an official announcement quoted by Bisnis on Sunday (15/15). 8/2021). He explained that the company's vision is to contribute to economic development and improve living standards in Indonesia by developing a financing business. Arthaasia Finance also encourages financing that can create social value for the community. According to him, with this vision, Arthaasia Finance will continue to strive to become a high-value finance company. This will be supported by the contributions of the two companies that have joined. "All employees will work together to run a unique and progressive business taking into account the global environment," Ryuichi wrote. The Deputy Commissioner for Supervision of the Non-Bank Financial Industry I Financial Services Authority (OJK) Anggar Budhi Nuraini explained that the enactment of the merger of the two companies made his party revoke Hitachi Capital Finance Indonesia's license. This is stated in the Decision of the Board of Commissioners of the Financial Services Authority Number KEP-70/D.05/2021 on August 9, 2021. With the merger of the two companies, Arthaasia Finance must bear and be responsible for all Hitachi Capital Finance's obligations. "Since the effective date of the merger of PT Hitachi Capital Finance Indonesia into PT Arthaasia Finance, PT Arthaasia Finance as the party receiving the merger is responsible for all activities, business activities, business operations, receivables, assets and liabilities of PT Hitachi Capital Finance Indonesia as a result of the merger," wrote Fencing in an official announcement quoted by Bisnis on Sunday (15/8/2021).