Our Global Presence
Mitsui Rail Capital, LLC is a Joint Venture between Mitsui & Co., Ltd and JA Mitsui Leasing, Ltd.
Mitsui Rail Capital is a global railcar leasing company, operating one of the youngest fleets in the industry. Our team of experienced rail industry professionals are committed to understanding your business, your industry and your logistics challenges to achieve successful outcomes. Whether we’re providing creative railcar leasing transactions or keeping you abreast of the latest industry developments, our goal is to create value in every interaction we have with you.
Mitsui & Co., Ltd is a leading trading and global investment company in Japan with roots dating back to the 15th century. Operating through 15 diverse business units, Mitsui companies are active in a wide range of consumer goods manufacturing and distribution; biotechnology; marine and aerospace technology; commodities trading; telecommunications; iron and steel production, and; logistics and transportation among others. With more than 48,000 employees in 142 offices in 66 countries and 426 subsidiaries and associated companies worldwide, Mitsui & Co., Ltd. (“Mitsui”) is one of the world’s largest integrated trading companies.
JA Mitsui Leasing is a leasing company of great individuality, combining the features of an organization linked to an affiliate of Japan Agricultural Co-operatives (JA) and a general trading company affiliated with Mitsui & Co., Ltd. Amalgamating the characteristics of a JA affiliate, a Mitsui affiliate and a general trading company affiliate, JA Mitsui Leasing offers high value-added services and solutions, taking advantage of its multiple channels, leading financial and distribution networks in Japan, and specialist knowledge of an extensive array of industries and sectors of the JA and Mitsui Groups
In 1996, Mitsui entered the U.S. railcar leasing business with the goal of combining the worldwide capabilities and financial advantages of Mitsui & Co. with an agile, customer-focused railcar leasing and services company. With Mitsui’s acquisition of Unitrain from MidAmerican Energy in 1998, MRC was founded. The acquisition served as a springboard into railcar leasing, and logistics services. Today, MRC continues the hands-on service that has enabled the company to become a major player in the railcar leasing industry.
Mitsui’s strategy is based on developing high-value-added operating-lease services that incorporate Mitsui’s unique capabilities and business experience in financial management, logistics management and information management. Mitsui has been active in global railway projects, developing its railway leasing and service capabilities as a core business over the past decades. Mitsui Rail Capital has an established presence with a global fleet that includes more than 250 locomotives and 17,000 railcars, operating in the United States, Europe and South America.
Mitsui Rail Capital Europe
Mitsui Rail Capital Europe B.V. (MRCE) was established by Mitsui & Co., Ltd. & Mitsui & Co. Europe Plc. (in U.K.). in 2004. MRCE began locomotive leasing operations in October 2004. Mitsui integrated the former Siemens Dispolok GmbH in 2006, and is now the European market leader in locomotive leasing and service.
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Mitsui Rail Capital Latin America (MRCLA)
Mitsui Rail Capital Latin America (MRCLA) was established by Mitsui & Co., Ltd. and began providing railcar leasing services in 2004. MRCLA’s main area of activity is the leasing of freight wagons (railcars), particularly for iron ore and agricultural products. The company’s main customers are the Brazilian railway freight companies Vale, ALL Group, and Brazil Ferrovias Group.
Management
The foundation of any successful relationship starts with the customer experience. At Mitsui Rail Capital, LLC (MRC), we hire the brightest and most-capable individuals, with railcar industry experience and a proven dedication to putting the customer first.
We listen carefully and focus on solutions to improve efficiency, reliability and reduce costs. Our customers have come to rely on our insights and depth of resources to deliver them the right services and equipment at the right time and price.
Dan Penovich
President
Dan has 30 years of experience leading teams in the railcar industry and has long standing relationships with many of Mitsui Rail Capital’s valued clients. In previous roles he served as Vice President Sales & Marketing at MRC, Vice President/Executive Director at GATX, leading sales activities and business development, and has also held sales positions at Union Tank Car Company and North American Car Company.
Kazuhiro (Kane) Nagoya
Executive Director
Nagoya has over 25 years of experience in the Sales & Marketing, Human Resources and Corporate Planning departments of Mitsui & Co., Ltd., and one of its subsidiaries in the USA. He is responsible for executive oversight of MRC and its strategic alignment with Mitsui & Co., Ltd.
Masami Shiobara
Executive Director
Shiobara has over 20 years of experience in various positions with JA Mitsui Leasing, Ltd, in Japan and other parts of the world. He is responsible for executive oversight of MRC and its strategic alignment with JA Mitsui Leasing, Ltd. Shiobara has been involved with the leasing business more than 20 years.
Chris Herrman
Vice President Finance & Treasurer
Chris joined MRC in 2012 and is responsible for finance and accounting activities. Prior to MRC, he served as the CFO of a technology development organization serving the energy markets. Chris began his career in commercial finance holding credit and sales roles at Merrill Lynch Capital, Heller Financial and LaSalle Bank.
Robin Andersen
Vice President of Operations
Robin is responsible for fleet operations and mechanical and logistics services and all mechanical management services. Robin also serves on MRC’s management team. Robin has over 20 years of experience in the railcar maintenance area and has a Bachelor’s degree in Accounting.
Yiannis Loizides
Director of Sales & Marketing
Yiannis leads the sales and marketing activities in the Western and Southeastern states. Joining MRC following seven years of experience in the Sales & Marketing departments of Norfolk Southern, he has worked both in Industrial Products as well as Intermodal. This includes increasing roles of responsibility in six different commercial functions at Norfolk Southern with work on high-profile transportation projects and Fortune 100 customer accounts.
Erica Ray
Director of Sales & Marketing
Erica leads the sales and marketing activities in the American Northeast as well as the Midwest and Canada. With 10 years of experience in the Accounting, Engineering, and Sales & Marketing departments with Norfolk Southern Railway, Erica has worked on high-profile projects such as PTC and Marcellus Utica Shale developments.
Jason Lutz
Director of Sales & Marketing
Jason leads the sales and marketing activities in the Southern and Southeastern States. Jason brings twenty years of industrial sales and marketing experience to MRC with the last six years focused on the tank car equipment and railcar leasing markets.