Finance History | ORIX — Orient Leasing From Three Traders and Five Banks
· 1964-4
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Finance History | ORIX — Orient Leasing From Three Traders and Five Banks
kevin
People treat ORIX as a Hamamatsucho tower that always mixed leasing, insurance and baseball.
The first book was a new Japanese word: leasing.
On 17 April 1964 Nichimen and Sanwa Bank founded Orient Leasing Co., Ltd. in Osaka, with capital of 100 million yen.
Two more trading houses, Nissho and Iwai, and four more banks, Toyo Trust, Japan Kangyo, Kobe Bank and the Industrial Bank of Japan, joined the register.
Three traders and five banks underwrote a thirteen-person office.
Yoshihiko Miyauchi transferred from Nichimen after a stint learning the trade at U.S. Leasing International.
Tsuneo Inui later ran the firm as president from 1967 to 1980 and built a direct-sales book instead of a captive desk for the founding banks.
The company listed on the Osaka Securities Exchange in April 1970 and on the Tokyo Stock Exchange a year later.
Hong Kong became the first overseas subsidiary in 1971.
The name changed to ORIX Corporation in 1989.
Leasing was the mechanism: a factory could use a machine without buying it, and the lessor booked the residual.
From that residual the group added auto leasing, real estate, life insurance, private equity and the ORIX Buffaloes.
Osaka still holds a headquarters at the ORIX Hommachi Building, 1-4-1 Nishi-Hommachi.
Tokyo headquarters sit in the World Trade Center South Tower at 2-4-1 Hamamatsu-cho.
The listed parent is the 1964 Osaka lease book, not a bank that was always one house.
Photo: World Trade Center Building, Hamamatsucho, via Wikimedia Commons.
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