In 1937, the owner of Decca, E. R. Lewis, chose to split off the UK Decca company from the US company (keeping his US Decca holdings), fearing the financial damage that would arise for UK Companies if the emerging hostilities of Nazi Germany should lead to war – correctly foreseeing World War II. Lewis sold the remainder of his US Decca holdings when war did break out. US-based Decca Records kept the rights to the Decca name in North and South America and parts of Asia including Japan. UK Decca owned the rights to the Decca name in the rest of the world. After the war, British Decca formed a new US subsidiary, London Records.