ORIX to Invest in KOIKE, a Major Manufacturer of Electronic Materials
TOKYO, Japan - March 7, 2017 - ORIX Corporation ("ORIX") announced today that it has acquired 100% of the outstanding shares of KOIKE Co., Ltd.("KOIKE"), a manufacturer of electronic materials.
Founded in 1946 as a processor of crystals, KOIKE subsequently developed into a manufacturer of single crystal wafers. In 2006, the company was chosen for inclusion in the Small and Medium Enterprise Agency's "Excellent SMEs and Micro Enterprises Selection 300," in recognition of its advanced technical capabilities, its ability to impact people's lives and economic activity, and its international contributions. Today, the company's primary business is the production of SAW wafers, substrates for electronic devices used to avoid radio frequency interference when installed in smartphones and other communication devices. KOIKE is now a global manufacturer of SAW wafers, with a business base whose main customers include major electronic device manufacturers.
Demand for SAW wafers is expected to grow further, backed by significant growth in the market for electronic devices driven in part by continued strong global demand for smartphones, increasingly advanced specifications, and the spread of LTE networks in emerging countries.
Under this acquisition, the company will continue to be managed by its current president and its employees retained. ORIX will dispatch executives to assist in drafting and executing measures to increase corporate value, including developing human resources required for business expansion and bringing in outside personnel. ORIX will utilize its expertise and business platform to support succession of a business for KOIKE and to build a solid position in the industry in collaborating with the company's executives.
Going forward, ORIX will continue to actively invest in and support companies with stable business platforms, high-quality technologies and services, and further growth potential.
■Overview of KOIKE
KOIKE Co., Ltd.
Contact Information:ORIX CorporationCorporate Planning DepartmentTel: +81-3-3435-3121
About ORIX:ORIX Corporation (TSE: 8591; NYSE: IX) is an opportunistic, diversified, innovation-driven global powerhouse with a proven track record of profitability. Established in 1964, ORIX at present operates a diverse portfolio of businesses in the operations, financial services, and investment spaces. ORIX's highly complementary business activities span industries including: energy, private equity, infrastructure, automotive, ship and aircraft, real estate and retail financial services. ORIX has also spread its business globally by establishing locations in a total of 37 countries and regions across the world. Through its business activities, ORIX has long been committed to corporate citizenship and environmental sustainability. For more details, please visit our website: http://www.orix.co.jp/grp/en/
Caution Concerning Forward Looking Statements:These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under "Risk Factors" in the Company's annual report on Form 20-F filed with the United States Securities and Exchange Commission and under "4. Risk Factors" of the "Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2015 - March 31, 2016."