TOKYO, Japan – February 28, 2014 – ORIX Corporation (TSE: 8591; NYSE: IX), a leading integrated financial services group, announced today that it has agreed to purchase all leases and installment loan claims held by TIS Leasing Co., Ltd. (hereinafter, “TIS Leasing”).
These leases and installment loan claims generally relate to information and communications technology equipment that are part of the system integration and network service provided by IT Holdings Corporation – the parent company of TIS Leasing. Properties covered by the leases and installment loan claims include, among others, servers, computers and software, store equipment, and hairdressing and medical equipment.
ORIX aims to further increase revenues by expanding its client base through actively acquiring small-sized, quality assets via M&A and debt purchases, while providing ORIX Group’s diverse financial services to new customers.
Overview of TIS Leasing
： TIS Leasing Co., Ltd.
： 8-17-1, Shinjuku, Shinjuku-ku, Tokyo, Japan
： General leasing of computers and peripheral equipment
： 5,450 million yen (for the fiscal year ended March 31, 2013)
Of which all operation assets will be assigned to ORIX Corporation
(Including approx. 6,000 contracts and 500 corporate customers)
ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group which provides innovative products and services to its customers by constantly pursuing new businesses. Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into lending, investment, life insurance, banking, asset management, automobile related, real estate and environment and energy related businesses. Since entering Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in 35 countries and regions across the world. ORIX celebrates its 50th anniversary in 2014 and moving forward it aims to contribute to society while continuing to capture new business opportunities and sustain growth by promoting acceleration of its corporate strategy "Finance + Services." For more details, please visit our website: http://www.orix.co.jp/grp/en/
These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under "Risk Factors" in the Company's annual report on Form 20-F filed with the United States Securities and Exchange Commission and under "4. Risk Factors" of the "Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2012 - March 31, 2013."