Orix

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This article is about a Japanese corporation. For the antelope, see Oryx.
Orix Corporation
Native name
オリックス株式会社
Public company
Traded as TYO: 8591, NYSEIX
Industry Financial services
Founded Kita-ku, Osaka, Japan (April 17, 1964 (1964-04-17))
Headquarters World Trade Center Building, Hamamatsucho, Minato, Tokyo
ORIX Hommachi Building, Nishi-Hommachi, Nishi-ku, Osaka
Key people
Yoshihiko Miyauchi, Senior Chairman
Products Investment Banking
Website www.orix.co.jp/grp/en/

Orix Corporation (オリックス株式会社 Orikkusu Kabushiki-gaisha?) (TYO: 8591, OSE: 8591, NYSEIX) is a financial services group headquartered in Minato, Tokyo, and Osaka, Japan. It is also known as the majority owner of the Orix Buffaloes baseball team in Nippon Professional Baseball.

Orix offers leasing, lending, rentals, life insurance, real estate financing and development, venture capital, investment and retail banking, commodities funds and securities brokering. In addition to expanding its offerings, Orix has also expanded globally, offering financial services in North America, Asia, the Middle East and Northern Africa. Divisions include Japan-based Orix Auto Leasing Corporation, which operates in other countries through subsidiaries such as Orix Auto Leasing (Thailand) Co., Ltd.

History[edit]

Orix was established 17 April 1964 as Orient Leasing Co., Ltd.. The company's name was changed to Orix Corporation in 1989.

Orix was originally a subsidiary of the trading house Nichimen (now Sojitz). Yoshihiko Miyauchi transferred to the company from Nichimen and went on to serve as its chairman and CEO, taking a key role in expanding its leasing business into a global player. Following his retirement in 2014, he was paid a 4.4 billion yen retirement bonus, an amount generally unheard of in the Japanese corporate world.[1]

In 2006, Orix USA acquired a majority stake in the investment bank Houlihan Lokey to address the growing international demand for middle-market investment banking services. Houlihan Lokey opened offices in Hong Kong and Tokyo in 2007.

As of 2007, Orix was Japan's largest leasing and leading diversified financial services conglomerate with assets in excess of US$69 billion and subsidiaries & associates in 24 countries worldwide.[2]

In early 2009, Orix management advised employees worldwide that due to suffering a series of losses because of the economic downturn, a retrenchment of 10% of its employees would occur. In turn this resulted in the termination of approx 600 individuals' employment contracts.

On July 1, 2013 Orix has acquired approximately 90.01% of the equity in Dutch asset manager Robeco from Rabobank also from the Netherlands.[3] The total sale price was EUR 1,937 million (JPY 250.7 billion). Robeco will help Orix to pursue its growth ambitions in global asset management.[3]

References[edit]

  1. ^ "オリックス、宮内氏に44億円の「功労金」". Nihon Keizai Shimbun. 25 June 2015. Retrieved 27 June 2015. 
  2. ^ "MAF ORIX Corporate Information". Retrieved 2008-05-04. 
  3. ^ a b Orix press release ORIX completes acquisition of Robeco, July 1, 2013 , accessdate July 13, 2013

External links[edit]