Orix Corporation News

Orix Corp., the Japanese financial firm under review for a three-level downgrade by Moody's Investors Service, said it may end its contract with the rating company because such an assessment wouldn't reflect Orix's business performance.

Japan's Orix Corp said on Thursday that it plans to buy Sumitomo Mitsui Banking Corp's 51 percent stake in Orix Credit Corp, making it a wholly owned subsidiary, following Sumitomo Mitsui Financial Group's buyout of consumer finance firm Promise Co earlier this month.

The ratings on ORIX Life Insurance Corp. reflect its position as a strategically important subsidiary of the ORIX group, one of Japan's most diversified financial groups.