Sumitomo Mitsui Financial Group(SMFG) and Orix Corp. agreed that SMBC will acquire a 51% stake in Orix Card Corp.(OCC) by July 2009. OCC will become a consolidated subsidiary of SMBC while Orix will continue to hold the remaining 49%.
These days SMBC has aggressively strengthened its strategic businesses through M&As.
May 08, 2009
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