TOKYO (Standard&Poor's) Feb. 25, 2002--Standard&Poor's said today that its rating on ORIX Corp. (BBB/Stable/--) would not be affected by the announcement that it will acquire 22.14% of Fuji Fire&Marine Insurance Co. (BBB/Negative/--). The acquisition by ORIX will be made together with a similar investment by American International Group Inc. (AIG; AAA/Stable/A-1+), for a total of approximately ¥34.4 billion through a private placement scheduled on March 28, 2002. The transaction, representing only about 0.3% of ORIX's total assets or 4.0% of shareholders' equity, is in line with management's strategy to provide diversified financial services to its customers, and its aim to secure a foothold in the nonlife insurance sector to enhance its market presence.
