Daiwa to Buy Orix Bank for $2.3 Billion in Lending Expansion

Daiwa Securities Group will acquire Orix Corp.’s banking unit for ¥370 billion ($2.3 billion), marking its largest deal in nearly 20 years to expand into commercial lending. The purchase, announced in April 2026, strengthens Daiwa’s position as Japan’s second-largest brokerage by diversifying beyond securities into traditional banking services. Orix Bank’s acquisition aligns with Daiwa’s strategy to tap into corporate and retail lending, leveraging its financial expertise to compete with larger rivals like Mitsubishi UFJ. The $2.3 billion deal underscores Japan’s shifting financial landscape, where brokerages are increasingly merging with banks to capture growth amid low interest rates. This move follows global trends of financial consolidation, as firms seek scale and broader revenue streams in a challenging economic environment.