Notice Regarding Transfer of ORIX Living Corporation Shares
Mar 25, 2019
TOKYO, Japan – March 25, 2019 – ORIX Corporation (“ORIX”) announced today that it has agreed and signed a contract to transfer all ORIX Living Corporation (“ORIX Living”) shares held by the ORIX Group to Daiwa Securities Group Inc. After carrying out the necessary procedures, ORIX plans to complete the share transfer in the first half of fiscal 2019.
1. Reason for the share transfer
ORIX Living is engaged in the development and operation of the GOOD TIME LIVING of private nursing home and the Platesia of private residential senior home. Since its establishment in 2005, ORIX Living has rolled out its facilities primarily in the Tokyo metropolitan area and the Kansai area; at present, it manages a total of 2,726 rooms in 29 GOOD TIME LIVING facilities and 3 Platesia facilities. ORIX Living seeks to improve the quality of its services by raising the everyday living functions of each of its residents through “private care that supports independence.”
Daiwa Securities Group, whose holding company is Daiwa Securities Group Inc., was established in 1902. It is a general securities group whose core business is securities. In recent years, Daiwa Securities Group has established a structure suited to the needs of an aging society. Among its activities are the deployment of “Anshin Planner” consultants, who specialize in catering to the needs of the elderly, at its sales offices; it also established the Nippon Healthcare Investment Corporation, which is Japan’s first-ever listed real estate investment trust (REIT) dedicated to healthcare facilities such as hospitals, private nursing homes and other facilities for the elderly.
ORIX believes that fusing ORIX Living’s development and operational knowhow with Daiwa Securities Group’s customer base, networks, and other resources will lead to the establishment of more stable business growth; for this reason, ORIX has decided to transfer its shares in ORIX Living.
2. Method of the share transfer
ORIX will first acquire the ORIX Living shares held by Handi Network International Co., Ltd., then transfer all ORIX Living shares in its possession to Daiwa Securities Group Inc.
After the shares have been transferred, there will be no change in the contractual relationship between ORIX Living and each of its residents.
|Name||ORIX Living Corporation|
|Address||2-2-15, Shiba, Minato-ku, Tokyo|
|Name of representative||Etsuaki Morikawa, President|
|Description of business||(1) The operation of private nursing home, private residential senior home, etc.
(2) The provision of lifestyle support services necessary for the facilities
(3) The provision of nursing services
(4) Various services related to (1) to (3)
|Date of establishment||April 2005|
|Major shareholders||ORIX Real Estate Corporation
Handi Network International Co., Ltd.
|Name||Daiwa Securities Group Inc.|
|Address||1-9-1, Marunouchi, Chiyoda-ku, Tokyo|
|Name of representative||Seiji Nakata, President and CEO|
|Description of business||The possession, management, and control of shares in companies engaged in the financial instruments business, etc.|
|Date of establishment||April 1999|
|Contract date||March 25, 2019|
|Share transfer date||First half of fiscal 2019 (planned)|
Corporate Planning Department
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 38 countries and regions across the world. Going forward, ORIX intends to utilize its strengths and expertise, which generate new value, to establish an independent ORIX business model that continues to evolve perpetually. In this way, ORIX will engage in business activities that instill vitality in its companies and workforce, and thereby contribute to society. For more details, please visit our website: https://www.orix.co.jp/grp/en/
(As of September 30, 2018)
Caution Concerning Forward-Looking Statements:
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 that 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 “1. Summary of Consolidated Financial Results” of the “Consolidated Financial Results April 1, 2017 – March 31, 2018.”
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