ORIX Corporation (TSE:8591) signed a share purchase agreement to acquire an unknown majority stake in DHC Corporation from Yoshiaki Yoshida on November 11, 2022. The transaction is expected to close within the financial year ending March 2023. Tatsuya Nakayama, Yasuo Tsukitome and Tetsushi Konda together with Toshiyuki Nonaka, Taeko Morita, Kaoru Tatsumi, Isamu Imaizumi, Yusuke Urano, Masaru Umeda, Kazumaro Kobayashi, Alisa Inuzuka, Ing-Chian Sun and Azusa Nakashima of Nishimura & Asahi acted as legal advisors to ORIX Corporation (TSE:8591) in this transaction. Masafumi Shikakura and Bai Yong of Clifford Chance Law Office acted as legal advisor to ORIX Corporation.

ORIX Corporation (TSE:8591) completed the acquisition of 100% stake in DHC Corporation from Yoshiaki Yoshida and others for approximately ¥310 billion on January 31, 2023. Post-acquisition, DHC became a wholly owned subsidiary of ORIX. The total cost of the acquisition consideration is ¥300,000 million, which is paid in cash. As part of the transaction, ORIX acquired cash and cash equivalents of ¥101,254 million and short-term debt of ¥5,000 million.