Orix Launches New Service to Support Small-Biz Succession

Economy

Tokyo, April 5 (Jiji Press)--Japanese leasing company Orix Corp. <8591> said Friday that it has launched a service to support small companies that are considering business succession due to the aging of their owner-managers.

Under the service, Orix buys a majority of shares in a small or midsize firm to prevent a situation in which the company will have no leader in the event that its owner dies.

Share acquisitions allow client companies to take time finding successors under Orix's umbrella and avoid closing down.

Orix taps its own financial resources to buy shares in such companies. No holding period will be set.

While investment funds scramble to sell shares to recover their investments, Orix's new service allows smaller firms to pick out successors without haste.

[Copyright The Jiji Press, Ltd.]

Jiji Press