Executive reshuffle at Orix amid the construction of Japan’s first legal casino

Apr 27 (News On Japan) - Japanese financial services group Orix Corp has announced a slate of senior leadership changes.

The company is a partner of U.S. casino operator MGM Resorts International in developing the MGM Osaka integrated resort (IR), which will host Japan’s first legal casino in the country’s history. The decisions on executive appointments were disclosed on Friday, and the key reshuffle takes effect on April 1.

Satoru Matsuzaki’s new role

Satoru Matsuzaki has been appointed chief operating officer (COO) of the company’s business unit covering Japan and the Asia-Pacific region (Japan and Asia-Pacific). The appointment is effective April 1. He will also retain his role as deputy president executive officer (Deputy President and Executive Officer) and will remain on Orix’s board of directors.

This combination of roles appears logical given the scale of operational challenges facing the corporation in the region, particularly those tied to the Osaka integrated resort project.

Masataka Yamada takes on finance and strategy

Masataka Yamada has been promoted to the positions of chief financial officer and chief strategy officer (CFO and CSO). In his new role, he is responsible for the company’s corporate strategy and management unit (corporate strategy and management unit). In effect, this consolidates two critical functions under a single senior executive, which may signal Orix’s effort to align financial planning with strategic development at a stage when the corporation is engaged in one of the country’s largest investment projects.

Takahashi remains at the helm

Hidetake Takahashi’s position as president and chief executive remains unchanged. He also continues to hold a seat on the company’s board of directors. Keeping Takahashi in the post underscores continuity in Orix’s overall leadership approach, while the reshuffle affects the corporation’s operational, financial, and strategic levels.

What we know about the MGM Osaka project

The MGM Osaka integrated resort became the only project to clear the first round of selection, during which local governments in Japan submitted bids for the right to host an IR. The partnership between Orix and MGM Resorts International involves creating a complex that includes the country’s first legal casino. Here are the project’s key parameters:

The estimated cost is JPY 1.51 trillion, equivalent to approximately $9.45 billion.

The resort is scheduled to open by late 2030.

The project is being implemented in Osaka and remains the only project selected in the first round of the government selection process.

For Japan, MGM Osaka represents not merely a hotel or entertainment facility, but something of a regulatory experiment in the gaming industry. The scale of investment and the partnership with one of the world’s largest casino operators make this project one of the most closely watched in the Asian hospitality and entertainment sector.

High hopes for overseas tourists amid the rise of the iGaming industry

As is well known, online casinos have significantly changed the rules of the game in the gambling entertainment market. iGaming is highly popular almost everywhere—from the U.S. to Asia. Growth is especially strong in developing countries, as penetration among local populations remains low for this kind of entertainment. We found confirmation of this across many niche websites from different regions of the world—ranging from statistics in Laos or Colombia to Ghana Online Sports Betting Sites, which, according to the data, are growing in number. As for developed countries, people there have long been used to playing online.

Nevertheless, the project’s authors are confident that despite intense pressure from the iGaming industry, land-based casinos still have strong potential. Especially when it comes to tourism. After all, while a local resident is likely to forgo visiting a land-based casino in favor of iGaming, a tourist is more likely to work a visit to such places into their itinerary. That is why the creators of MGM Osaka make no secret of the fact that they are counting to a significant extent on overseas customers. Whether these expectations will be met—time will tell.

Middle East Tensions Push Up Prices of Cooking Oil and Fish

Rising tensions in the Middle East are beginning to affect not only fuel and transportation costs, but also the prices of everyday foods ranging from cooking oil and fish to onions, with experts warning that the impact could continue for at least another year even if fighting comes to an end.

Japan's Business Manager Visa Applications Plunge 96%

Applications for Japan’s "Business Manager" residency status, which is granted to foreign entrepreneurs launching businesses in the country, have fallen by approximately 96% following the tightening of screening standards introduced in October last year.

Sacred Pilgrimage Site Asks Visitors Not to Wear Revealing Clothing

Koyasan, a UNESCO World Heritage site in Wakayama Prefecture that has seen a steady rise in visitors from both Japan and overseas in recent years, is urging worshippers to avoid wearing revealing clothing as the summer season approaches, as temple authorities seek to preserve the dignity and spiritual atmosphere of one of Japan’s most revered religious centers.

Japanese Passenger Aboard Cruise Ship as Andes Hantavirus Cases Confirmed

A cruise ship sailing in the Atlantic Ocean with a Japanese passenger on board has become the center of a widening international health response, as multiple countries confirm infections linked to a rare strain of hantavirus capable of limited human-to-human transmission.

Vacant Homes With 110 Heirs

The number of vacant homes across Japan has surpassed 9 million—roughly double the figure from 30 years ago—yet efforts to address the issue are being held back by increasingly complex inheritance cases that make resolution difficult.

MEDIA CHANNELS

MORE Business NEWS

Toyota First Japanese Company to Crack 50 Trillion Yen Mark

Toyota Motor has become the first Japanese company to surpass 50 trillion yen in annual revenue, although the automaker expects profits to decline this fiscal year due to the impact of Middle East tensions and U.S. tariff policies.

Japan’s National Debt Hits Record High for 10th Straight Year

Japan’s so-called “national debt,” which includes government bonds, borrowings and other liabilities, reached 1,343.8426 trillion yen as of the end of March, marking a record high for the 10th consecutive year, the Finance Ministry announced.

Discount Supermarkets Push Up Prices

A discount supermarket chain known for its ultra-low prices has raised the price of kaiware radish sprouts for the first time in 34 years, as worsening tensions in the Middle East continue to drive up oil-related costs and disrupt supplies of plastic products across Japan.

Japan’s Real Wages Rise for Third Straight Month in March

Japan’s real wages in March rose for the third consecutive month, supported by continued growth in base salaries and a slowdown in inflation, according to data released by the Health, Labour and Welfare Ministry.

Nikkei Soars by Record 3,320, Closes Above 62,000 for First Time

The Nikkei 225 surged sharply in Tokyo trading on May 7th, rising more than 3,300 points to close at 62,833.84 yen, marking both the largest gain in its history and the first time the index has finished in the 62,000 range, as buying orders spread rapidly from the opening bell following the Golden Week holidays and continued to build throughout the session.

Mass Crackdown Targets Street Vendors Around Ameyoko

Nearly 1,500 businesses, including restaurants, have come under scrutiny as authorities move to address a growing issue in Ameyoko, one of Japan’s busiest shopping streets, where eateries have been expanding onto public roads without permits, prompting a crackdown by the Tokyo Metropolitan Police Department.

Vacant Homes With 110 Heirs

Japan Weighs 1% Food Tax Cut

A proposal to eliminate Japan’s consumption tax on food for two years, long promoted by Prime Minister Sanae Takaichi, is facing complications, with a reduced 1% tax option now gaining traction within the government due to technical constraints that could delay full implementation.

< 2 3 4 5 >