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Orix Corp. Chief Executive Officer Yoshihiko Miyauchi will step down after more than three decades in charge of the Japanese leasing and finance company that he helped establish.

Makoto Inoue, 61, who has been co-CEO since January, will succeed Miyauchi on June 24, subject to shareholders’ approval, the Tokyo-based company said in a statement. Miyauchi, 78, will take on a new position as senior chairman advising the firm without being on the board, Orix said.

Miyauchi’s career at Orix stretches back to 1964, the year of the Tokyo Olympics, when he and 12 others founded the firm, according to material provided by the public relations office.

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