Japan’s largest leasing company Orix Corp has denied merger
talks with credit card firm Credit Saison.
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“There is nothing going on. There have not been even talks on a
merger or alliance [with Credit Saison],” Haruyuki Urata, Orix
deputy president said at a media briefing on its earnings.
Financial sources reported the two were in talks to create a
finance group with $106bn in assets, in a further sign of
consolidation in the country’s hard pressed consumer lending
sector.
Urata said Orix was not interested in a merger with Credit
Saison, adding that expanding its retail business was not high on
its priority list.
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