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Daiwa ( (JP:8601) ) just unveiled an announcement.
Daiwa Securities Group and wholly owned unit Daiwa Next Bank will acquire all shares of ORIX Bank Corporation from ORIX Corporation, making ORIX Bank a wholly owned subsidiary of Daiwa Next Bank. The deal is positioned as a strategic response to Japan’s shift to a “world with interest rates,” where demand is rising for comprehensive consulting on both customer assets and liabilities.
The group aims to combine Daiwa’s strong client base and deposit-gathering platform with ORIX Bank’s established strengths in real estate-related lending and trust services to better deploy customer deposits and meet growing needs for loans and inheritance-related solutions. Management plans to build a sustainable growth model based on a virtuous cycle of deposit and loan expansion, pursue functional integration and an eventual merger of the two banks, and thereby enhance stable earnings and strengthen Daiwa’s overall competitive position in financial consulting and banking services.
More about Daiwa
Daiwa Securities Group Inc. is a major Japanese financial services group focused on securities, asset management, and related banking services, operating through subsidiaries such as Daiwa Next Bank. Daiwa Next Bank, launched in 2011 as a gateway bank to the group’s securities business, offers deposit products and market-based investment services to retail customers across Japan.
YTD Price Performance: 10.87%
Average Trading Volume: 4,876,265
Technical Sentiment Signal: Buy
Current Market Cap: Yen2036.7B
Learn more about 8601 stock on TipRanks’ Stock Analysis page.