ORIX Corporation (“ORIX”) announced that the procedures for supporting the business succession of FAIR FIELD SHIPPING CO., LTD. (“FAIR FIELD SHIPPING”), a Japanese shipowner, have been completed. Going forward, ORIX will launch full-scale business succession support services specializing in the maritime industry to address issues related to business succession, such as the development of business successors and sustainable business growth in maritime-related companies.
FAIR FIELD SHIPPING, established in 1974, is a company that owns ocean-going ships and manages their operation. Based on its representative’s desire for medium- to long-term business continuity and ensuring its employees’ employment, ORIX coordinated for FAIR FIELD SHIPPING’s ships and employees to be taken over by ORIX’s business partners. Some of the ships were handed over to ORIX Group’s Santoku Senpaku Co., Ltd (“Santoku Senpaku”).
ORIX will assign personnel specializing in business succession support for maritime-related companies. ORIX will support succession in the most appropriate manner for the client’s circumstances, including the acquisition of shares by ORIX, brokerage for the transfer of assets and shares to third parties as well as the provision of consultancy and advisory services.
In Japan, the top management of companies is aging, for example, the average age of company representatives has reached 63 years old, with those in their 70s and older making up approximately 35%*1, both of which are new record highs. In the maritime industry, the nurturing of next-generation management is an urgent matter. Meanwhile, there are many management issues, including rising fuel costs, labor shortages, and responding to decarbonization and digital transformation (DX). Against these backgrounds, there is a growing trend for maritime-related companies facing difficulties in succession internally to consider business succession through a third party.
ORIX began a secondhand ship leasing business in Japan in the latter half of the 1960s and has been building up expertise in ship investment (owning and operations); ship purchases, sales, and brokerage; and international ship financing. Furthermore, ORIX acquired all shares of Santoku Senpaku*2 in 2024 for the purpose of business succession and the shares of SOMEC Corporation*3-which was established through a corporate split of Sojitz Corporation’s marine vessel trading business-in 2025. While pursuing business expansion through M&A, ORIX is diversifying its maritime-related businesses and expanding its trading network across the maritime industry.
ORIX will continue to contribute to the sustainable growth of the maritime industry as a part of social infrastructure by utilizing its accumulated experience and expertise.
