Worth reading
58In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
3700
¥ hundred millionWording
Conditional
How definitive the wording is.This transaction
Acquisition of a subsidiaryCounterpartyORIX CORPORATION
Disclosing companyDaiwa Securities Group Inc.
The voting-rights ratio is the share of the votes exercisable at a shareholders’ meeting that will be held after this transaction.
TimelineThe spacing between the points is proportional to the actual number of days.
Target company
Banking
Location Minato-ku, TokyoShare capital ¥45 billionDate of incorporation 23 August 1993
Net income for the current fiscal year¥20.893 billion (fiscal year ended March 2025)
Net assets¥270.399 billion (fiscal year ended March 2025)
Consideration and expenses
Acquisition price¥370 billion (the final acquisition price will be determined following price adjustments and other procedures stipulated in the share transfer agreement)
Impact on Business Performance
The impact of this acquisition of a subsidiary on the consolidated results of the Daiwa Securities Group is currently under review. If it is determined that the transaction will have a material impact, timely disclosure will be made.
Procedures and assumptions
Conditions Precedent to ExecutionCompletion of the prior notification required under Article 10, Paragraph 2 of the Antimonopoly Act, expiration of the waiting period, absence of a cease-and-desist order or other such order, and receipt of approvals and licenses from the relevant authorities. This includes obtaining 大和ネクスト銀行's approval under the Banking Act to acquire a bank subsidiary and approval as a major shareholder of a bank.
Management structure after acquisitionA merger between 大和ネクスト銀行 and オリックス銀行 is planned in the future. The company name, representative, and treatment of employees are not disclosed.
| Item | Details |
|---|---|
| Transaction name | Acquisition of a subsidiary |
| Counterparty name | ORIX CORPORATION |
| Name of the Subject Company | ORIX Bank Corporation |
| Business Description of the Subject Company | Banking |
| Location of the Subject Company | Minato-ku, Tokyo |
| Capital Stock of the Subject Company | ¥45 billion |
| Date of Establishment of the Subject Company | 23 August 1993 |
| Net Income of the Subject Company | ¥20.893 billion (fiscal year ended March 2025) |
| Net Assets of the Subject Company | ¥270.399 billion (fiscal year ended March 2025) |
| Acquisition price | ¥370 billion (the final acquisition price will be determined following price adjustments and other procedures stipulated in the share transfer agreement) |
| Number of shares acquired | 1,200,000 shares (number of voting rights: 1,200,000) |
| Voting rights ownership percentage | Before 0％ → after 100％ |
| Impact on Business Performance | The impact of this acquisition of a subsidiary on the consolidated results of the Daiwa Securities Group is currently under review. If it is determined that the transaction will have a material impact, timely disclosure will be made. |
| Contract Date | 27 April 2026 |
| Execution Date / Effective Date | Scheduled by October 2026 (share transfer date) |
| Conditions Precedent to Execution | Completion of the prior notification required under Article 10, Paragraph 2 of the Antimonopoly Act, expiration of the waiting period, absence of a cease-and-desist order or other such order, and receipt of approvals and licenses from the relevant authorities. This includes obtaining 大和ネクスト銀行's approval under the Banking Act to acquire a bank subsidiary and approval as a major shareholder of a bank. |
| Management structure after acquisition | A merger between 大和ネクスト銀行 and オリックス銀行 is planned in the future. The company name, representative, and treatment of employees are not disclosed. |
Items this document does not state (15)
Net Sales of the Subject CompanyOperating Profit of the Subject CompanyExpenses other than the acquisition priceType of ConsiderationMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Date of board resolutionValuation methodologyIndependent valuation institutionSpecial Committee
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The aim is to combine 大和ネクスト銀行's ability to attract deposits with オリックス銀行's lending and trust functions and specialized personnel, thereby enhancing total asset consulting capabilities, the deposit and lending businesses, and earnings from asset management-related operations.
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