ORIX to Invest in Primagest, an Information Processing Service Company
TOKYO, Japan - July 18, 2017- ORIX Corporation ("ORIX") announced today the acquisition of 100% of the stock of Primagest, Inc. ("Primagest") which is an expanding information processing service company.
Primagest is a company that operates in the image information solutions field. It digitizes documents and records using high-speed image scanners, develops systems that utilize the information, and handles BPO*1. It even provides a comprehensive service that includes system development, maintenance, and BPO, all with the aim of increasing the efficiency of internal business procedures, including receiving and opening documents, inspection, scanning, digitizing, and fault correction. The particular strength of Primagest is high-speed data processing of large quantities of documents, which supports the business efficiency of financial institutions and major distribution and logistics companies, etc., which need to process many documents and records in a short period of time.
The scale of the BPO market is large at 3.7 trillion yen*2, and it is expected to grow by approximately 2% per annum due to the business efficiency requirements that will come with future personnel shortages and work style reforms. The number of companies in the image information solutions market that are employing BPO for tasks that were previously conducted in-house is increasing, and Primagest aims to achieve growth in excess of that market.
ORIX will establish a secure position for Primagest in the image information solutions field by sharing the business efficiency knowhow of the ORIX Group and through M&A with companies that show synergistic tendencies, etc., while maintaining the independence and autonomy of Primagest's management. ORIX aims to actively invest in and provide support to companies with a competitive advantage, from either a business or service perspective in the IT and BPO fields, which are expected to display growth going forward.
(*1) BPO is an acronym of business process outsourcing. It refers to outsourcing some of a company's business processes to an external specialist company.
(*2) Source: Yano Research Institute
■Overview of Primagest
|： Primagest, Inc.
： Kiyohiro Miisho
： 580 Horikawacho, Saiwai-ku, Kawasaki-shi, Kanagawa Prefecture
： BPO operations, SI operations, and maintenance operations
relating to image information processing
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 36 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 "1. Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2016 - March 31, 2017