Struggling consumer credit firm Orient Corp. said Wednesday it will liquidate four more financial subsidiaries to bolster the rehabilitation efforts of the parent company.
Liquidating the four money-lending units -- Tao International Co., Kagen Co., Tao Investment Co. and Orico Tama Co. -- was approved by the company's board of directors, Orient said.
The parent firm has already booked an extraordinary loss of 32.25 billion yen in the first half of the 2002 business year as costs to liquidate the four units.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.