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    8591   JP3200450009

ORIX CORPORATION

(8591)
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Delayed Japan Exchange  -  05/27 02:00:00 am EDT
2421.00 JPY   +1.89%
05/25ORIX : Current Report by Foreign Issuer (Form 6-K)
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05/12ORIX's Attributable Net Income Soars 62% in FY22
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05/11ORIX Corporation Reports Earnings Results for the Full Year Ended March 31, 2022
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ORIX : Enters Business Partnership with Mitsubishi Fuso in Environmentally Friendly Electricity Retailing Business

12/26/2021 | 09:07pm EDT

TOKYO, Japan - December 27, 2021 - ORIX Corporation ("ORIX") announced today that it has entered a business partnership with Mitsubishi Fuso Truck and Bus Corporation ("Mitsubishi Fuso") to introduce customers to the environmentally friendly electricity retail business. This is the first time ORIX has entered a business partnership with an automobile manufacturer to introduce customers to the electricity retail business.

Mitsubishi Fuso, which sells eCanter, the first mass-produced electric light-duty truck in Japan, proposes the introduction of environmentally friendly electricity to corporate customers*1 nationwide. Customers will be able to choose the most suitable option from ORIX's electricity menu, which includes "low CO2 emission factor electricity," "renewable energy-based electricity," and "electricity with tracking certification required by the RE100 initiative." The service will support customers in transportation and other industries to implement decarbonization management, including the achievement of RE100 and gradual reduction of CO2 emissions.

According to the Ministry of the Environment, the transportation sector is responsible for 18.5% of Japan's total CO2 emissions*2, and with the growth of e-commerce, CO2 emissions are expected to continue increasing in the future. Companies will be required not only to implement their own environmental management policies, but also to respond to the demands of their global supply chains, by using environmentally friendly electricity to charge their vehicles, and electrifying their trucks.

ORIX started its electricity retail business in 2009 as a power retailer. Currently, it mainly supplies power to special high-voltage and high-voltage power facilities such as stores and office buildings, operating in the areas supplied by Tohoku Electric Power, Tokyo Electric Power, Chubu Electric Power, Hokuriku Electric Power, Kansai Electric Power, Chugoku Electric Power, and Kyushu Electric Power. It also offers energy-saving services that help customers understand energy usage at their factories, warehouses, stores, etc., and provides comprehensive support for energy-saving strategies, from proposal to implementation.

ORIX will continue to proactively develop services that help customers save energy and reduce energy costs, and respond to their environmental management needs.

*1 Sales will begin in January 2022 from the first sales locations, and will be expanded nationwide (excluding Hokkaido, Shikoku, and Okinawa).
*2 "Greenhouse Gas Emissions from the Transportation Sector" [1.0MB](in Japanese) / Ministry of the Environment

Contact Information:
Investor Relations and Sustainability Department
ORIX Corporation
Tel: +81-3-3435-3121

About ORIX:
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."

Disclaimer

ORIX Corporation published this content on 27 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 December 2021 02:06:05 UTC.


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Sales 2022 2 568 B 20 206 M 20 206 M
Net income 2022 309 B 2 428 M 2 428 M
Net Debt 2022 6 538 B 51 444 M 51 444 M
P/E ratio 2022 9,45x
Yield 2022 3,49%
Capitalization 2 889 B 22 733 M 22 733 M
EV / Sales 2022 3,67x
EV / Sales 2023 3,76x
Nbr of Employees 33 153
Free-Float 92,7%
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Number of Analysts 12
Last Close Price 2 421,00 JPY
Average target price 2 768,33 JPY
Spread / Average Target 14,3%
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Makoto Inoue Executive Officer
Hitomaro Yano Deputy General Manager-Finance
Stan H. Koyanagi Director & Global General Counsel
Tomoko Kageura Executive Officer, GM-Compliance & Legal Affairs
Shuji Irie Deputy General Manager-Business Investment
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