Shinsei Bank Ltd. Chief Executive Officer Thierry Porte, whose firm is buying General Electric Co.'s Japan consumer finance business for $5.4 billion, said the industry is about to recover from its two-year slump.
"I think we are arriving at the bottom, and we can expect to move from here," Porte, 51, said Monday on Bloomberg Television.
Shinsei, part-owned by private equity investor Christopher Flowers, agreed Friday to buy GE's Tokyo-based Lake unit and its mortgage-loan and credit-card businesses, boosting its lending to consumers in Japan by almost two-thirds.