Tokyo, Japan - December 6, 2021 - K.K. Mizumusubi Management Miyagi ("Mizumusubi Management Miyagi") has concluded the Implementation Contract on December 6 with Miyagi Prefecture in relation to the Miyagi Prefecture Integrated Water Supply, Industrial Waterworks, and Sewerage Public-Private Partnership Management Project ("the Project") *1.
The Project entrusts the operation of Miyagi Prefecture's water supply business, industrial waterworks business, and sewerage business facilities to the private sector for a period of 20 years.
Mizumusubi Management Miyagi, K.K. Mizumusubi Service Miyagi ("Mizumusubi Service Miyagi") as the operation and maintenance company and the shareholding companies, METAWATER Co., Ltd., Veolia Jenets K.K., ORIX Corporation, Hitachi, Ltd., Nihon Suido Consultants Co., Ltd., HASHIMOTOTEN Co., Ltd., Fukken Gijyutsu Consultants Co., Ltd., SANDEN KOGYO CORPORATION, TOKYU CONSTRUCTION CO., LTD., and METAWATER SERVICE Co., Ltd. will work together with the aim of launching businesses in April 2022.
*1 Miyagi Prefecture website, the Miyagi Prefecture integrated water supply, industrial waterworks, and sewerage public-private partnership management project page : https://www.pref.miyagi.jp/site/miyagigata/ (in Japanese)
* For further information, please refer to the news release: Establishing a Special Purpose Company and an O&M Company for the Miyagi Prefecture Integrated Water Supply, Industrial Waterworks, and Sewerage Public-Private Partnership Management Project | ORIX Group (July 15, 2021)
Overview of Mizumusubi Management Miyagi, Mizumusubi Service Miyagi
Mizumusubi Management Miyagi (the management company) and Mizumusubi Service Miyagi (the operation and maintenance company) were established as business companies to carry out this Project in order to realize sustainable water supply, industrial waterworks, and sewerage services in Miyagi Prefecture.
Based on a public-private partnership with Miyagi Prefecture, Mizumusubi Management Miyagi will manage the Project by combining the expertise and human resources of professional water companies with extensive track records throughout Japan and local professional water companies with expertise in Miyagi's water situation.
Mizumusubi Service Miyagi is a specialist company in charge of operation and maintenance tasks for water supply, industrial waterworks, and sewerage facilities established through investments by the component companies of Mizumusubi Management Miyagi. It actively employs local people, aiming to be a company that can support water in Miyagi into the future.
The word "mizumusubi" ("to connect water"), which was chosen as it embodies multiple meanings: connecting Miyagi Prefecture's three water businesses (water supply, industrial waterworks, and sewerage) with water-related companies; connecting Miyagi Prefecture's water infrastructure-which has been maintained thus far-with the future; and realizing sustainable water supply, industrial waterworks, and sewerage services.
Mizumusubi Management Miyagi and Mizumusubi Service Miyagi will provide sustainable water supply, industrial waterworks, and sewerage services to the people of Miyagi Prefecture based on the overall policy of "Region," "Innovation," and "Trust."
Investor Relations and Sustainability Department
ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group which provides innovative products and services to its customers by constantly pursuing new businesses.
Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into lending, investment, life insurance, banking, asset management, automobile related, real estate and environment and energy related businesses. Since entering Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in 28 countries and regions across the world.
Going forward, ORIX intends to utilize its strengths and expertise, which generate new value, to establish an independent ORIX business model that continues to evolve perpetually. In this way, ORIX will engage in business activities that instill vitality in its companies and workforce, and thereby contribute to society. For more details, please visit our website: https://www.orix.co.jp/grp/en/
(As of September 30, 2021)
Caution Concerning Forward Looking Statements:
These documents May contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results that differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under "Risk Factors" in the Company's annual report on Form 20-F filed with the United States Securities and Exchange Commission and under "(4) Risk Factors" of the "1. Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2020 - March 31, 2021."