Reuters logo
Orix to buy 51 pct stake in Orix Credit from SMBC
April 26, 2012 / 7:31 AM / 5 years ago

Orix to buy 51 pct stake in Orix Credit from SMBC

TOKYO, April 26 (Reuters) - Japan’s Orix Corp said on Thursday that it plans to buy Sumitomo Mitsui Banking Corp’s 51 percent stake in Orix Credit Corp, making it a wholly owned subsidiary, following Sumitomo Mitsui Financial Group’s buyout of consumer finance firm Promise Co earlier this month.

But Orix and SMFG signalled they would continue to work together in areas such as guarantor services and debt collection. (Reporting by Mayumi Negishi; Editing by Chris Gallagher)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below