Guest Speaker: Mr. Yoshihiko Miyauchi, ORIX Corporation
On June 16, Professor Tomonori Ito's Applied Corporate Finance class welcomed Mr. Yoshihiko Miyauchi, Senior Chairman of ORIX Corporation, as a guest speaker.
Professor Ito and his students had a one-hour discussion on the global equity offering for ORIX in 2009 based on the Hitotsubashi ICS case 'ORIX Corporation: Surviving the Financial Crisis (A) & (B)' written by Professor Ito. They discussed whether ORIX should have chosen to issue equity at that time despite a low share price, and why this equity issuance became so successful. Mr. Miyauchi, one of the protagonists of the case, was the CEO of ORIX at the time of the equity offering.
Following the discussion, Mr. Miyauchi stayed on for a one-hour Q&A session with the students, offering suggestions on how to judge good and bad risks and become a future leader, and explaining how he was able to create an innovative, risk taking culture at ORIX. Having been the CEO of ORIX for 34 years, Mr. Miyauchi was able to share with students many valuable insights stemming from his vast management experience.