Announcement Regarding the Dissolution and Liquidation of Local Subsidiary in Poland
Apr 02, 2021
TOKYO, Japan - April 2, 2021 - ORIX Corporation (“ORIX”) announced today that a decision was made at the General Meeting of Shareholders of ORIX Polska S.A. (“ORIX Polska”) - ORIX’s local subsidiary in Poland undertaking its leasing business - to dissolve and liquidate ORIX Polska. In response to this decision, ORIX Polska will change its name to “ORIX Polska S.A. in liquidation.”
1. Purpose of dissolution and liquidation
Due to business evaluation in profitability and growth potential
|Date of decision||April 1, 2021|
|Date of completion of liquidation||June 2022 (planned)|
|Name||ORIX Polska S.A.|
|Head office||Warsaw, Poland|
|Capital||37,890,000 Polish złoty (approximately 1 billion yen)*|
|Description of business||Leasing and automobile leasing|
4. Future outlook
There is no impact on the consolidated financial results of ORIX due to this matter.
* Conversion based on exchange rate of 1 Polish złoty ≒ 28.04 yen (as of March 31, 2021)
Investor Relations and Sustainability 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 34 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, 2020)
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, 2019 – March 31, 2020.”
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