Orix plans investment of 300 billion yen in china
A report suggests that the Japanese financial services company, Orix Corp is planning to invest around 300 billion yen ($3.2 billion) in firms in china over the next three years. It is setting up a unit in china for tapping into the country's growing economy by proving financial and infrastructure services.
The Orix (China) Investment Co to be set up in the Chinese city of Dalian will take a 15% stake in a tourism and real-estate firm, the Japanese firm said in a statement through email.
Orix directly enters the Chinese market by setting up this unit. The company however said that it first entered the Chinese market in 1981.
The investments are to be in the range of 5 billion and 10 billion yen each and Orix will procure local funding by taking small firms public as well as lure investors from abroad through funds.
Tuesday Orix shares rose 3.3 percent to 6,520 yen in the early trade on Tokyo Stock Exchange.
