Daiwa Securities Group Makes Orix Bank a Wholly Owned Subsidiary

Daiwa Securities Group will make Orix Bank a wholly owned subsidiary through Daiwa Next Bank.

The deal is valued at about 370 billion yen, marking a major bank acquisition.

The aim is to combine lending, trust functions, and asset consulting to strengthen customer service.

Daiwa expects to accelerate growth by expanding deposits and loans and capturing financial synergies.