Mizuho Increases Stake in KKR-Backed Orient Corp.

Mizuho Financial Group plans to increase its ownership in consumer credit firm Orient Corp., buying 30 billion yen ($368 million) worth of shares from investors Morgan Stanley and Kohlberg Kravis Roberts & Co., Reuters reported. Morgan Stanley bought 35 billion yen worth of Orient Corp. in 2007, at the same time buyout shop KKR invested 20 billion yen in the company. Mizuho, Japan's second-largest bank by assets, already owns 27.2% of Orient. It now plans to buy 19.7 million additional shares from KKR and 30.6 million shares from Morgan Stanley, Reuters reported.

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