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Japan : Announcement Regarding Business Alliance between ORIX and The Senshu Ikeda Bank Collaborating to Support Administrative Improvement through a Business Rehabilitation Subsidiary
Publish Date : 31-Jan-2013
ORIX Corporation, a leading integrated financial services group, and The Senshu Ikeda Bank, Ltd. (hereinafter \"Senshu Ikeda Bank\") announced today the signing of a business alliance between the two companies for the purpose of enhanced corporate rehabilitation.
ORIX will invest 4.0 billion yen in Senshu Ikeda\'s wholly-owned corporate rehabilitation subsidiary by way of non-voting preferred shares. ORIX will also dispatch personnel and provide know-how relating to administrative improvement and business rehabilitation. Through this rehabilitation business, ORIX and Senshu Ikeda Bank will strive for the active business rehabilitation of local companies seeking to improve management, while contributing to the development of the local economy.
ORIX has entered into capital and business alliances with Tokyo Star Bank in June 2010, Nagano bank in January 2011 and Towa Bank in May 2012, and is pursuing business rehabilitation support utilizing its expertise and business platform. In the future, ORIX will continue to pursue alliances and partnerships with financial institutions in various business areas, and provide financial services that meet the diverse needs of its customers, while closely watching changes to the market and developments to the SME Finance Facilitation Act.
ORIX Corporation is an integrated financial services group based in Tokyo, Japan, providing innovative value-added products and services to both corporate and retail customers. With operations in 28 countries and regions worldwide, ORIX’s activities include corporate financial services, such as leases and loans, as well as automobile operations, rental operations, real estate, life insurance, banking and loan servicing.
