ORIX : to Commence Demonstration Experiment with the University of Toyko for Local Production and Consumption of Renewable Energy in Aizuwakamatsu

TOKYO, Japan - October 13, 2021 - ORIX Corporation ("ORIX"), ORIX Group companies, and the Graduate School of Engineering at the University of Tokyo are pleased to announce that they will start a joint demonstration experiment for local production and consumption of renewable energy in Aizuwakamatsu City, Fukushima Prefecture.

Since September 2019, ORIX and the University of Tokyo have been conducting research on a tracking system that uses blockchain technology to prove the history from power supply to consumption^*1.
In Aizuwakamatsu City, the tracking system and AI technology will be used to develop a supply and demand forecast model for the power demand of facilities and the amount of power generated by renewable energy in the region.
At the hot spring resort Onyado Toho (Aizuwakamatsu City, Fukushima Prefecture) operated by the ORIX Group, changes in the actual power consumption will be analyzed using AI and the power demand will be predicted based on the hotel occupancy rate and weather conditions. In addition, after acquiring power generation data from solar and wind power generation facilities in the city whose output fluctuates depending on natural conditions and predicting the amount of power supply, direct transactions and matching (linking) of power between the demand side and the supply side will be verified.

Through this demonstration experiment, the knowledge gained from tracking system research at the University of Tokyo, management and operation know-how of the ORIX Group's renewable energy power plants, IoT solution technology, real estate/facility operation, and management resources such as electric vehicle operation will be used to achieve renewable energy supply services with added value according to the needs of users. In the future, the ORIX Group will consider building a platform for direct power transaction (P2P^*2) between multiple bases, which will enable production area certification and efficient use of power through a distributed network that is simultaneous and commensurate^*3.

The ORIX Group and the University of Tokyo will continue to conduct research with an eye on changes in the social environment and to contribute to the realization of a decarbonized society.

*1 For further information, please refer to the news release: ORIX to Start Joint Research into a Tracking System to Encourage Local Production and Consumption of Power (September 2, 2019)
*2 Peer-to-peer: An autonomous decentralized network model in which communications provide data and requests/access are performed on an equal footing.
*3 Simultaneous/commensurate: The supply and demand volume must constantly be matched in terms of total volume over 30 minutes.

■Roles of Each Participant in the Demonstration Experiments

The University of Tokyo ORIX	- Provision of a tracking system that has been undergoing research - Consideration of building a platform for direct power transactions (P2P)
UBITEQ	- Construction of a supply and demand forecast model utilizing AI and data analysis - Development and verification of direct power transaction (P2P) systems - Coordination with external services
ORIX Real Estate ORIX Hotel Management	- Provision of data such as the amount of electricity used by facilities, the operating rates of hotels, and the amount of electricity used by electric vehicle chargers
ORIX Auto	- Providing electric vehicles - Consideration of electric vehicle-related services for corporations

Contact Information:
Investor Relations and Sustainability Department
ORIX Corporation
Tel: [phone]

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 31 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 March 31, 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."