Orix to Boost Assets Abroad by $1.2 Billion on China

Orix Corp., Japan’s largest equipment-leasing company, aims to expand overseas assets by 12 percent this year to tap growing demand for machine tools, aircraft and ships in Asia as the domestic market slows.

The Tokyo-based company plans to spend 100 billion yen ($1.2 billion) to add equipment for leasing and raise equity stakes in companies abroad to about 960 billion yen by March 2011 from 860 billion yen last fiscal year, Chief Financial Officer Haruyuki Urata said in an interview yesterday in Tokyo.