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Orix Corp. to expand equity holdings to Southeast Asia, Middle East
Japan's most active financial firm in acquisition, Orix Corp., revealed plans to spend JPY50 billion (US$506 million) on buyouts around Southeast Asia and the Middle East within the next 12 months tapping on faster-growing markets.
Orix Corp. Executive Vice President Kazuo Kojima in an interview said that the firm is working hard to complete transactions in countries including, Myanmar, Cambodia and Vietnam. The target businesses include banks, asset managers, private equity firms and consumer lenders according to the executive.
Orix is among Japanese firms that have widened their exposure to emerging markets as a diminishing population in Japan limits their growth potential at home.
The firm, earlier this year, announced offers to buy shares of companies around the two regions. One of the companies was Mongolian Tenger Financial Group, which holds one of the country's leading banks. Orix Corp. has also offered to buy shares of Saudi Arabian insurance firm, the Mediterranean & Gulf Insurance & Reinsurance Co.
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