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.
The students and Professor Ito 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)' authored 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 was the CEO of ORIX at the time of the equity offering and one of the protagonist of the case.
Following the one hour discussion, Mr. Miyauchi spent another one-hour for a Q&A session with the students. He told the students to be curious and to continue learning regardless of the age, explained how he took risk while not endangering the company, the importance of being honest and transparent as a leader, and suggested to trust people to succeed as a business person. Having been the CEO of ORIX for 34 years, Mr. Miyauchi shared many insightful thoughts and precious experience on management with the students.