The July 7, 2025 issue of Nikkei Business, a leading Japanese business magazine, featured a cover story on ORIX Group.
Nikkei Business is published by Nikkei Business Publications, Inc. ("Nikkei BP"), a group company of Nikkei Inc., one of Japan’s leading media organizations.
This feature was researched and edited by Nikkei BP with the aim of shedding light on the evolution of ORIX’s diversified businesses, its future strategies, the strength that has enabled the company to remain profitable for 60 consecutive years, and the unique qualities that define ORIX.
To make this story accessible to a global audience, we have translated the article into English and Chinese, and divided it into four parts.
This is the second installment:
Part 2: DHC, Santoku Senpaku, and “Gachagacha no mori” —“Crying Together, Laughing Together”: Inside ORIX’s Investment Approach
Learn about the bold strategies behind ORIX’s enduring success.
<Sources>
Nikkei Business, July 7, 2025 issue, "ORIX The Shapeshifter: 60 Years in the Black. The Art of Investment through Profit and Hard Work", pp. 10–36
Nikkei Business Online Edition, July 8, 2025 issue, ORIX The Shapeshifter: What Happens After M&A? The Two Rules, Explained by Robeco’s CEO
Part 2: DHC, Santoku Senpaku, and “Gachagacha no mori” —“Crying Together, Laughing Together”: Inside ORIX’s Investment Approach
Among ORIX’s many diverse businesses, investment stands out as one of the largest in terms of capital deployed.
Unlike traditional funds, the company invests its own capital and sends employees to work side by side with investee companies.
Its value-added approach, which aims not for integration but fusion, is supported by the human connections built during these assignments.
The core of private equity (PE) investment is to acquire companies cheaply, enhance their corporate value, and then sell them at a higher price. In ORIX’s case, the main investment targets have been small- and medium-sized enterprises with corporate value in the tens of billions of yen. These have spanned a wide range of sectors, including information technology (IT), healthcare, logistics, and business process outsourcing.
Thirty-two Investments, Including Toshiba
Since the establishment of the Investment and Operation Headquarters in 2011, ORIX has completed 32 investments, including companies such as KINREI from Kyoto, known for its frozen nabeyaki udon noodles, and Toshiba. The guiding principle has been to invest in companies with strong growth potential regardless of sector, and in April 2025, the company decided to invest approximately 10 billion yen in LULUARQ from Fukuoka, a leading capsule toy retailer operating “Gachagacha no mori” and other stores.
Seiichi Miyake, Head of the Investment and Operation Headquarters, noted, “Following the success of “Koppu no Fuchiko” (a small doll that can be attached to a cup), capsule toys have been in high demand not only among inbound tourists but also young women. Sales in May were up 50%.”
ORIX is currently focusing its attention on companies that are under attack from activist shareholders. Most of the company’s prior investments have been in unlisted companies, but it will now also include listed companies facing pressure to divest non-core businesses.
In June, ORIX announced its first tender offer (Takeover Bid) in seven years as part of its PE investments. Through a subsidiary, the company aims to acquire full ownership of Ascentech, a software company listed on the Tokyo Stock Exchange Standard Market. The planned acquisition amount is 24.055 billion yen. Ascentech provides virtual desktop services that allow workers to access their work environment remotely, and ORIX will explore synergies with existing investee companies.
Investment Returns Averaging 25%
For investments made since 2012, the average internal rate of return (IRR) on realized deals has been approximately 25%, significantly higher than the 12.9% average reported for PE funds in Japan at the end of 2022.
In the fiscal year ended March 2025, segment profit from the Investment and Operation Headquarters reported 83.1 billion yen, a 2.2-time increase from the previous fiscal year. This was driven by gains on the sale of veterinary pharmaceutical company Sasaeah Holdings from Shinagawa-ku, Tokyo, and improved performance at investee companies such as Toshiba and DHC, both based in Minato-ku, Tokyo. The key to these strong returns lies in ORIX’s distinct approach. The secret to the high returns is the way the company interacts with investees after acquisitions, which differs from rival PE funds.
Unlike typical PE funds that dispatch external professional management, ORIX sends the very employees who sourced the deal to work on-site, shoulder-to-shoulder with investee companies. This hands-on, gritty approach to improving corporate value is a core strength of the company.
For example, in January 2023, ORIX acquired major online cosmetics retailer DHC for 300 billion yen. DHC’s founder and former Chairman Yoshiaki Yoshida was known for his strong-handed leadership, and in the past had sparked boycotts due to discriminatory remarks made against Korean residents in Japan. Following the acquisition, in order to focus on DHC’s core cosmetics and supplements businesses, ORIX divested non-core operations such as hotels and discontinued its online media “Toranomon News” which posed a reputational risk, and Yoshida stepped down as chairman.
DHC President Midori Miyazaki emphasized, “The most important factor in choosing ORIX was its commitment to carrying forward DHC’s brand and culture, trusted by our 16 million members.”
Eight Employees Seconded to DHC
Eight ORIX employees including Hiroyuki Odaka, Director of Investment and Operation Headquarters, were seconded to DHC. Their first priority was governance reform. They launched Project Bright, which established eight cross-company working groups spanning research and development (R&D), overseas business, and other functions, and rebuilt decision-making processes to ensure collective accountability. With the departure of its charismatic founder, the aim was to encourage employees to think and act independently.
A major shift occurred in product development, which involves various departments, including development, sales, reliability assurance, and marketing. Previously, former Chairman Yoshida gave direct instructions to each department, which allowed for fast decision-making but also meant little horizontal connection between departments. The company has now adopted a consensus-based system in which each department discusses and decides at regularly held council meetings, and the plan–do–check–act (PDCA) cycle has begun to operate within the organization.
The number of personnel engaged in cosmetics R&D was doubled. The number of new products increased from zero in 2023 to seven in 2024. This included hit products such as the DHC Deep Cleansing Balm, which melts at skin temperature to remove dirt trapped in pores.
The question then became how to effectively mobilize DHC’s roughly 2,000 employees. Hiroyuki Odaka, who had experience managing post-merger integration (PMI) for frozen food manufacturer KINREI, noted, “It’s not enough to simply be intelligent; what matters most is the passion to show how the company can be transformed and to build trust.”
As Executive Vice President of DHC, Odaka personally visited nearly 100 directly-operated stores and plants across Japan, conducting one-on-one interviews with employees to align the company’s direction with staff perspectives. Minako Ito, who works at a directly operated store in Tokyo, commented, “Until now, executives rarely visited our workplace, so it was difficult to voice opinions directly. With the new structure, it has become easier to consult with headquarters.” Odaka added, “We can create opportunities for change, but it’s the employees themselves who will actually transform the company. It’s important they feel we’re all in the same boat.” Leveraging ORIX’s expertise in pharmaceutical manufacturing, the company will also proactively pursue overseas expansion of its supplement business, which it sees as a growth market.
Ultra-Fast Due Diligence Secured Santoku Senpaku
Departments at ORIX responsible for investment projects are not limited to the Investment and Operation Headquarters. In some cases, they are led by individual headquarters. One such case was the business succession of major shipowner Santoku Senpaku, spearheaded by the Global Transportation Services Headquarters. The investment, roughly 300 billion yen, was on par with that of DHC. For ORIX, which has been involved in the ship business for more than 50 years since beginning its ship leasing operations in the 1970s, Santoku Senpaku’s ship management expertise represented a key growth driver that it was eager to acquire.
Ryujiro Tokuma, Executive Officer and Head of Global Transportation Services Headquarters at ORIX, commented, “As of March 31, 2024, they had assets including 67 vessels and a team of seasoned shipping professionals. This enabled us to enter the domestic shipping business, a challenge we had been hoping to pursue. It was an attractive asset.”
Chairman Inoue: A Five-Minute Decision, “Why Not?”
In fact, when ORIX Group Chairman and Chief Executive Officer (CEO) Makoto Inoue first heard about the deal, it only took five minutes for him to say, “Why not go ahead with it?” and give his approval to move forward.
However, ORIX had once been dropped from the short list of potential buyers for Santoku Senpaku because the purchase price it offered was lower than that of its competitors. Why, then, was ORIX ultimately able to win the acquisition? One key factor was the overwhelming speed of its due diligence.
Normally, in such acquisitions, it is common to commission outside experts to assess the value of each vessel, one by one. ORIX, on the other hand, leveraged its long experience in ship ownership to internally handle the appraisal of the nearly 70 ships owned by Santoku Senpaku. By demonstrating speed that rivals could not match, ORIX won over the company’s management and was invited back to the negotiating table. Santoku Senpaku President Junichi Taga recalls, “ORIX has a deep understanding of the ship business and possesses diverse expertise in corporate operations and capital procurement. They were the optimal partner.”
Goal of “Fusion, Not Integration”
Another deciding factor in Santoku Senpaku choosing ORIX was its commitment to respecting the corporate culture of investee companies. When PE funds invest, it is not uncommon for them to resort to restructuring and layoffs in the name of cost cutting. President Taga said, “What really mattered was whether the principle of ‘employees first’ could be upheld.” Koji Tsutsui, Head of the Ship and Marine Project Group within Global Transportation Services Headquarters, who was in charge of Santoku Senpaku’s business succession, commented, “PMI should not be about integration of companies, but rather about fusion.”
While Santoku Senpaku had grown rapidly, its compensation system and other foundations as a company were underdeveloped. President Taga reveals, “The top priority was to improve employee compensation, and ORIX shared that understanding.” In the shipping industry, which is facing a serious labor shortage, improving compensation is crucial for attracting talent. Since the succession, instead of cutting personnel costs, wages have been raised at a pace higher than the national average.
That said, not all of ORIX’s PE investments have been a success. For example, Kobayashi Kako, which it acquired in January 2020, was found to have engaged in quality-control fraud, leading to administrative penalties. Miyake, Head of Investment and Operation Headquarters, explains, “Because ORIX is a diversified group spanning businesses like automobiles and insurance, we can use ORX Group networks to support the growth of our investee companies.” He emphasized both the hands-on, people-oriented approach of ORIX and the unique value-adding methods made possible by its conglomerate structure, approaches that the company intends to continue to use in the future.
Corporate Financial Services Covering Loans, Insurance, and Real Estate—Learning the Backbone of Management, “Logic and Humanity”
“The expected return on real estate in Sapporo is 6%, higher than in Tokyo. If you’re looking to stabilize your business, why not consider real estate investment?”
In the reception room of a building in Nihonbashi, Tokyo, ORIX’s Chuo Branch Team 1 Leader Yoshizumi Kudo sat down with Satoshi Terui, Head of the Management Division at Daiwa Systems-Create, based in Chuo-ku, Tokyo. Alongside a female junior colleague, Kudo spent an hour in discussion, casually chatting about topics like company trip destinations, while exploring potential opportunities for future businesses such as life insurance and real estate investment.
Corporate Financial Services covers a wide range of services, but none are dramatically superior to competitors’. As Kudo puts it, “The key is how well you can tell a story that captures the customer’s interest.”
A Legacy Business from ORIX’s Inception
Corporate Business Headquarters, one of ORIX’s long-established departments since in 1964 when the company was founded. It provides products and services, such as loans, automobile leasing, and life insurance, to 400,000 corporate customers across Japan. With 1,500 employees, the largest number of any headquarters, it operates branches and offices in 59 locations in every prefecture. Even as ORIX globalizes, Corporate Financial Services operating in the domestic market remains central to its businesses, because it is not only selling products and services to customers but also serving as a platform for developing young employees who support the company’s transformation management and for generating new businesses.
It is 4 p.m. on a weekday in June. A study session is being held in a meeting room at the Chuo Branch on business succession. A specialized team from Tokyo Headquarters briefs 15 employees on how to evaluate potential corporate customers based on their size, performance, and key monitoring points. ORIX has positioned business succession as a core pillar of its growth strategy. These study sessions, which are held two to three times per month, cover subjects such as life insurance, logistics, solar power generation, and other areas of specialized knowledge and expertise to strengthen the next generation of talent against competitors like regional banks and mergers and acquisition (M&A) intermediation firms.
Where Half of New Hires Get Their Start
Corporate Business Headquarters serves as a gateway for new hires. Half of all new recruits are assigned here, each handling 30 to 40 companies. Training is largely on-the-job, where employees learn about ORIX’s businesses, such as leasing, installment sales, and loans, while also gaining fundamental skills in finance, accounting, law, and taxation in order to deal with customers’ management. Within three years of joining the company, employees are required to obtain qualifications such as Grade 3 in the Official Business Skill Test in Book-keeping, Grade 3 in the Japan Business Law Examination, and Grade 3 in the Banking Proficiency Test, which is focused on financing and taxation.
Tomohiko Ishihara, Executive Officer Responsible for Human Resources, says, “Corporate Financial Services is on the front lines, interacting with customers. It’s a place where we can identify their needs and fully utilize ORIX’s resources.” Each employee is assigned annual targets for assets under management and fees, but how they achieve them is left to their own discretion, whether through leasing, insurance, or other channels, which allows employees to develop their own strengths.
Cultivation of Relationship Skills That Connect with Customers
In the field of Corporate Financial Services, employees learn both the logic of business and how to build close, trust-based relationships with customers. With these skills, many expand their horizons to other businesses such as PE Investment or Environment and Energy. ORIX supports career growth with initiatives like the career challenge system, where employees can apply directly to a desired department, and an internal internship system allowing trial work in other departments. More than 400 employees use these systems each year. Financial and accounting expertise and experience developed in Corporate Financial Services provide a foundation applicable across all ORIX businesses.
Corporate Financial Services also serves as an incubator for new ventures. For example, the company’s online payment system, which reduces bill payables, and its support service for joining corporate pension funds both originated here. These services emerged precisely because they addressed the real issues faced by small- and medium-sized enterprises and their management such as the burdens of promissory note transactions and securing retirement benefits for employees.
In March 2023, ORIX launched the members-only Central Medical Club Setagaya, a Tokyo clinic which has advanced diagnostic equipment and offers medical examinations for conditions like cancer and heart disease. This service addressed the concern of regional enterprise owner-managers, who preferred not to risk rumors spreading by visiting nearby hospitals. The service currently has 600 members. According to Deputy President Satoru Matsuzaki, Head of Corporate Business Headquarters, “For small- and medium-sized enterprises, the health of the owner-manager is paramount. We’re seeing an increase in usage for business succession purposes.” The idea of a takeoff and landing port for Advanced Air Mobility at the venue of EXPO 2025 Osaka, Kansai, Japan is another example of an initiative that originated within Corporate Financial Services.
“This Is the Starting Point for Our Customer Relationships”
These efforts boosted segment profit for the fiscal year ended March 2025 to 90.3 billion yen, a 9% increase year-on-year, accounting for 17% of total profit. President and Chief Operating Officer Hidetake Takahashi emphasized, “Some say growth has slowed compared to other businesses and that we should pull back, but for us, this is the starting point for our customer relationships.”
In ORIX’s early days, Corporate Financial Services was derided as “PHS” (pachinko, hotels, and sarakin—meaning loan sharks), as the company painstakingly developed sales channels by approaching companies that major financial institutions and regional banks would not. Employees naturally have gained ORIX’s DNA through being drilled into financial expertise and this gritty work in Corporate Financial Services. That DNA has become the mindset essential for PE investments, where returns are paramount, and employees often take on secondments to investee companies to work side by side with them. As Deputy President Matsuzaki puts it, “Corporate Financial Services is ORIX’s backbone.” One of the major reasons for ORIX’s evolution into a truly unique corporate group has been its enduring Corporate Financial Services DNA.
PART2：“专业与共情”：欧力士投资的幕后哲学
在欧力士的多元业务版图中，资本投入最重的是投资业务。不同于传统基金，欧力士以自有资金投资，并派驻员工深入被投企业一线参与经营，推动企业价值提升。这种“追求融合而非强制整合”的策略，依托的正是派驻员工在实践中展现出的专业与共情。
事业投资的底层逻辑是低价买入、提升企业价值后再高价卖出。欧力士的事业投资，主要聚焦于估值在数百亿日元规模的中小企业。覆盖领域非常广泛，包括IT、医疗健康、物流等。
32个投资项目：从东芝到“扭蛋森林”，不拘行业只看潜力
自2011年设立以来，事业投资本部已累计投资了32个项目，标的既包括以冷冻锅烧乌冬闻名的食品企业KINREI CORPORATION，也涵盖东芝等大型企业。欧力士的投资策略以企业成长性为核心，不设行业限制。2025年4月，欧力士宣布向扭蛋专卖店运营商LULUARQ出资——该公司运营着"扭蛋森林"等日本知名的扭蛋专卖店，投资金额在100亿日元左右。
欧力士事业投资本部长三宅诚一表示："此前由于杯子上的“缘子小姐”（附在杯子上的小玩偶）大热，扭蛋玩具不仅受到海外游客青睐，在日本年轻女性中也人气飙升，LULUARQ今年5月销售额同比增长了50%。"
欧力士过去多投资于非上市公司，如今正将目光转向那些受到激进派股东施压、或因业务重组而考虑剥离非核心资产的上市公司。
2025年6月，欧力士宣布了七年来的首次TOB（要约收购）。计划通过子公司将东京证券交易所标准市场上市的软件公司Ascentech K.K.纳为全资子公司，预计收购金额为240亿5500万日元。Ascentech主打"远程桌面控制"服务（用户可在个人终端上访问公司电脑，实现远程办公），欧力士将探讨Ascentech与其他被投企业的产品组合，挖掘协同价值。
IRR达25%：远超行业平均水平的收益率秘诀
自2012年以来，欧力士累计退出项目的平均内部收益率（IRR）为25%。相比之下，调查显示截至2022年末，日本私募股权基金行业的平均水平为12.9%，欧力士的投资回报远超行业均值。
2025年3月财年，欧力士事业投资板块的利润达831亿日元，同比增长2.2倍。利润增长主要得益于两方面：一是出售兽药公司Sasaeah Holdings所带来的收益，二是东芝和DHC等被投企业的业绩稳步增长。
欧力士获得高收益率的秘诀在于其独特的投后管理模式。传统PE基金通常在投资后委派外部的职业经理人至被投企业。与此不同，欧力士是将负责该投资项目的员工派驻至被投企业，与原团队共同努力提升企业价值，这种“同甘共苦”的深度参与模式，成为其核心竞争力。
2023年1月，欧力士斥资3000亿日元收购化妆品电商企业DHC。DHC创始人吉田嘉明原董事长以其“独裁式”的管理风格而闻名，过去曾因对在日韩国人发表歧视言论引发了对DHC的抵制运动。收购后，欧力士专注于DHC核心的化妆品与保健品业务，剥离了酒店等非核心业务资产，并停播了争议节目《虎之门新闻》，吉田嘉明也辞去了董事长职务。
DHC资深高管、现任总经理宫崎绿表示："DHC拥有1600万会员，品牌和文化广受认可。我们选择欧力士，最重要的原因是他们承诺会传承DHC的品牌和文化。"
8人派驻团队推动DHC转型
为推动DHC转型，欧力士从事业投资本部抽调了小高弘行等8人派驻到DHC。派驻团队的首要任务是优化公司治理结构。他们发起了“Project Bright”计划，横跨公司组建了涵盖研发、海外业务等8个职能工作组，并通过工作组的讨论，重建了公司的决策流程。旨在原“独裁式经营”的创始人卸任后，激发和培养员工自主思考与行动的能力。
此外，产品研发机制也得到极大改善。产品研发涉及研发、销售、品质管理、市场等多个部门，以往是由原董事长吉田直接向各个部门下达指令，决策速度虽快，但各部门间的横向协同却很薄弱。欧力士收购后，决策机制改为定期召开审议会，由各部门共同讨论决策。同时建立了“计划（Plan）-执行（Do）-检查（Check）-处理（Act）”的PDCA循环管理体系，强化组织协同。
在研发投入上，化妆品研发人员也增加至2倍。2023年新产品为零，2024年增加到7种，其中不乏新品爆款“DHC深层卸妆膏”。
对于如何调动约2000名DHC员工的积极性，曾负责过冷冻食品公司KINREI并购后整合（PMI）的小高弘行表示：“建立信任不能只靠‘头脑聪明’，关键是要有推动公司变革的热情。”
作为DHC的副总经理，小高弘行亲自走访了日本全国近100家直营店和工厂，听取每一位员工的意见，确保了公司发展方向和员工思想的一致性。在东京都内直营店工作的伊藤美奈子坦言："以前公司高管们从未来过现场，我们的意见很难传达到总公司。如今体制变了，与总公司的沟通也变得容易了。"小高弘行强调：“我们只是为公司变革创造契机，真正推动变革的是员工本身。让员工感受到‘同心同行’，这一过程至关重要。”
欧力士还将发挥自身在药品制造领域的知识与经验，助力DHC拓展具有高增长潜力的海外保健品市场。
极速收购三德船舶：3000亿日元投资背后的“船舶基因”
欧力士的投资项目并非仅由事业投资本部主导，各业务部门均可主导推进。例如，运输设备事业本部主导的日本著名船东“三德船舶”收购项目，投资规模约3000亿日元，与DHC收购案相当。欧力士自20世纪70年代起以租赁业务为轴心布局船舶事业，至今已深耕50多年，三德船舶的船舶管理经验，正是欧力士寻求的“增长引擎”。
欧力士执行董事、运输设备事业本部长德间隆二郎表示：“截至2024年3月底，三德船舶拥有67艘船舶，聚集了一批船舶专业人才，还能拓展日本国内航运业务，这些都是极具吸引力的资产。”
井上亮先生听了5分钟就说"不妨试试"
欧力士集团CEO井上亮首次听取三德船舶项目汇报时，仅5分钟就为项目开了绿灯，说"去做就行了。"
但其实欧力士曾一度被三德船舶排除在买家选项之外，因为欧力士提出的收购金额低于竞争对手。那么为何最终欧力士还是成功收购了三德船舶呢？原因之一就是尽职调查的压倒性速度。
在此类收购项目中，需对每一艘船舶进行单独价值评估，传统流程通常委托外部专家完成，耗时较长。而欧力士凭借多年积累的船舶业务经验，能够自主完成三德船舶旗下近70艘船舶的评估。这种“竞争对手无法追赶的速度”，打动了三德船舶，使欧力士重新回到谈判桌。
三德船舶总经理多贺纯一回顾说："欧力士对船舶业务有着深刻的理解，拥有企业经营和资金筹措等多方面的丰富经验，是我们最合适的合作伙伴。"
“融合而非整合”：尊重文化，优先员工利益
三德船舶选择欧力士的另一个决定性原因，是欧力士重视被投企业的企业文化。传统PE基金在投资后，常以“削减成本”为由裁员。而多贺总经理明确表示："能否把员工利益放在首位，是至关重要的。"
欧力士运输设备事业本部负责三德船舶收购案的船舶投融资部负责人筒井宏次强调：“PMI必须是‘融合’，而非‘企业间的强制整合’。”
三德船舶虽成长迅速，但薪酬体系等基础制度尚不完善，多贺总经理提出：“在优先改善员工待遇这一点上，我们与欧力士的理念高度一致”。考虑到船舶行业“人手短缺”的现状，为吸引和保留人才，欧力士收购后不仅未削减人工成本，反而以高于日本全国平均水平的幅度上调了员工工资。
当然，欧力士的事业投资也并非全部成功。例如，2020年1月收购的仿制药企业小林化工，在成为欧力士全资子公司后不久就被发现质量问题而受到行政处分。
事业投资本部长三宅先生表示："欧力士的业务横跨汽车、保险等多个领域，因此可以充分发挥集团资源的协同效应，推动被投企业价值提升。"他认为，欧力士投资的核心优势在于两点：其一是“员工全力以赴所展现的人情味”，其二是“依托多元化经营所形成的价值提升策略”。这两点将继续作为未来投资的核心逻辑。
涵盖贷款、保险、不动产等业务的法人营业
学习经营的核心“专业与共情”
"札幌不动产的预期收益率为6%，高于东京。若想确保经营稳定，不妨考虑投资不动产"
在东京日本桥某个写字楼的接待室里，欧力士中央支店一组组长工藤嘉纯正与客户Daiwa Systems-Create的管理本部长照井智交流。他带领团队与客户交谈了约1个小时，话题从员工旅行目的地等闲谈切入，自然地挖掘人寿保险、不动产投资等潜在合作机会。
欧力士的金融服务产品与竞争对手相比并无绝对优势。工藤嘉纯指出："能否不断抛出让客户感兴趣的话题，是决定成败的关键。"
自创业以来的核心平台
法人营业本部是欧力士创业初期即设立的核心部门之一，也是历史最悠久的业务板块。当前已在日本全国设有59个支店与事务所，覆盖日本全部都道府县，拥有1500名员工，是集团人员规模最大的部门。业务覆盖融资、汽车租赁、人寿保险等，累计服务企业客户约40万家。
在不断推进全球化布局的欧力士，聚焦日本国内市场的法人营业本部之所以被定位为“核心平台”，不只因为其面向客户的销售能力，更在于它同时也是欧力士的“人才培养平台”和“新业务挖掘平台”。
在6月某个工作日的下午4点，中央支店的会议室里正在召开以“事业继承”为主题的学习会。来自集团总部的专业团队，向15名员工讲解了如何根据企业规模、业绩等要点，对潜在客户进行评估。欧力士将事业继承作为成长战略的重要支柱，为将年轻员工培养成为能够与地方银行和M&A中介公司竞争的“战斗力”，公司每月都会举办2到3次这样的学习会，主题涵盖人寿保险、物流、太阳能发电等各类专业知识。
半数应届生的职业起点，在实践中成长
法人营业本部是欧力士年轻员工的“成长摇篮”——每年约半数应届毕业生被分配至该部门，每人会负责30-40家企业客户。年轻员工主要通过“在职培训（OJT）”熟悉了解租赁、分期付款、融资等业务内容，以及学习与企业经营者沟通所需的财务、会计、法律税务等基础知识。为确保专业能力达标，员工必须在入职3年内考取三项资格证书：日商簿记检定3级、商务实务法务检定3级、银行业务检定3级（财务、税务方向）。
欧力士负责人力资源的执行董事石原知彦表示：“法人营业本部既是直面客户的‘最前线’，也是洞察需求、整合集团资源的关键枢纽。”虽然每位员工都有年度“资产规模”和“手续费收入”的业绩目标，但达成方式完全由员工自主决策，无论通过租赁还是保险，公司都予以认可，以此激励员工发挥所长。
培养走进客户内心的能力
在法人营业本部的业务实践中，员工不仅提高了“做生意”所需的专业能力，也培养了能“走进客户内心”的共情能力。这些经验成为他们未来向其他业务方向（如事业投资、环境能源）发展的核心竞争力。为支持员工跨领域发展，欧力士推行了两项制度：一是《职业挑战制度》，允许员工直接向目标部门自荐，争取调动机会；二是《内部实习制度》，为员工提供短期跨部门实习机会，积累多元经验。每年有超过400名员工受益于此。同时，员工在营业一线培养的财务、会计知识，更是开展一切业务的基础能力。
法人营业本部也是新业务的孵化平台。许多新业务的产生，都是来源于营业一线的需求，例如，可以减少纸质票据的线上支付系统、企业年金基金的加入支援业务等，这些服务之所以产生，正是为了帮助中小企业经营者解决其所面临的繁琐票据交易和员工退休金保障等课题。
2023年3月，欧力士在东京开设了会员制诊所“世田谷中央医疗俱乐部”，该诊所配备先进诊断设备，提供癌症、心脏病等疾病的专项检查。由于地方企业经营者担心健康问题曝光后影响企业经营，往往不愿在本地就医，该服务有效解决了这一痛点，目前会员已突破600人。欧力士副总经理、法人营业本部长松崎悟指出："对于中小企业而言，经营者的健康至关重要。近年来以事业继承为目的的使用需求也在不断增加。”
此外，大阪关西世博会场内的“空中出租车（eVTOL）”起降场项目，也出自法人营业本部的提案。
客户关系的起点
2025年3月财年，法人营业实现板块利润903亿日元，同比增长9%，占集团总利润17%。集团COO高桥英丈强调，"与其他业务板块相比，法人营业的利润增长相对放缓，外界甚至有人建议干脆放弃。但对我们而言，客户关系的起点正是源自这里。"
欧力士创业初期，因法人营业的主要客户为弹珠机、情人旅馆、消费金融公司这三类颇具争议的行业企业，一度被业界嘲讽。但正是凭借深耕大型金融机构与地方银行不愿触及的市场，欧力士才逐步打开了业务局面。
在法人营业本部，员工不仅能系统掌握金融知识，更能在“接地气”的营业实践中培养出独特的“欧力士气质”。这种特质既锤炼了在事业投资中精准把握收益率的眼光，也奠定了深度参与被投企业经营、与其共同成长的信任基础。
松崎副总经理直言：“法人营业本部是欧力士的脊梁。”可以说，欧力士能够成长为“前所未有的企业集团”，其背后的关键驱动力之一，正是法人营业本部自创立以来延续下来的“专业与共情”的DNA。
