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News Releases 2011

May 13, 2011

Contact Information
Dream Incubator Inc.
TEL : +81-3-5773-8770
URL : dreamincubator.co.jp/english/index2.html
Contact Information
ORIX Corporation, Corporate Communications
TEL : +81-3-5419-5102
URL : www.orix.co.jp/grp/en/

Announcement Regarding Investment in Promising Vietnamese Milk Beverage Manufacturer
-The First Investment by the DI Asian Industrial Fund-

TOKYO, Japan – May 13, 2011 – Dream Incubator Inc. (TSE: 4310: hereinafter "DI") and ORIX Corporation (TSE: 8591; NYSE: IX; hereinafter "ORIX") announced today that they acquired an approximate 25% stake in Dong Tam Nutrition Joint Stock Company (hereinafter "Nutifood"), a Vietnam-based company, as their first investment through the DI Asian Industrial Fund L.P. (hereinafter "DIAIF"), a joint venture operated by the two companies.  

Nutifood is a growing company that produces and distributes powdered milk and milk beverages in Vietnam. The milk industry in Vietnam continues to grow at a very high rate of nearly 15% each year. Nutifood holds a high market share among Vietnamese companies in the areas of powdered milk and UHT (Ultra High Temperature) milk, with strong brand recognition especially in the milk beverage market for young adults, and possesses a countrywide distribution network.

Nutifood intends to take this investment as an opportunity to promote alliances with Japanese consumer goods companies. DIAIF will dispatch a strategy consultant from DI as an outside director to Nutifood to support the company in forming strategies. DIAIF will aim to further increase Nutifood's corporate value by actively supporting business and capital alliances with companies such as Japanese consumer goods companies.

DIAIF is a large-scale Japanese investment fund established in June 2010 that targets Vietnam's non-listed companies. The fund is under co-operation by DI, with experience in management consulting for large corporations and venture investment, and ORIX, with overseas investment and operating know-how, and is joined by Japan's leading companies and investors, including the Japan Bank for International Corporation (JBIC).

DI and ORIX aim to contribute to industry growth in Japan and Vietnam, capitalizing on capabilities and know-how of the two companies to support business facilitation between invested companies and Japanese companies.

DIAIF Overview 

Capital Commitment:
Inception Date:
Period of Operation:
Investment Target:

5 billion yen
June 2010
Joint operation by DI and ORIX
8 years
The fund will primarily invest in domestic-focused companies of consumer as well as the retail and distribution industries in Vietnam.

About DI 
Dream Incubator, Inc. (TSE: 4310) provides support for venture companies, foreign companies expanding into Japan, consulting services for large corporations. Dream Incubator also provides consulting services for corporations, such drafting business strategies, assisting in their implementation, designing organizational structures, and offering consulting services on product development. For more deails, please visit: http://www.dreamincubator.co.jp/english/index2.html

About ORIX
ORIX Corporation (TSE: 8591; NYSE: IX) is an integrated financial services group based in Tokyo, Japan, providing innovative value-added products and services to both corporate and retail customers. With operations in 27 countries and regions worldwide, ORIX's activities include corporate financial services, such as leases and loans, as well as automobile operations, rental operations, real estate, life insurance, trust and banking and loan servicing. For more details, please visit our website at:  http://www.orix.co.jp/grp/en/

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 to 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 "Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2010 – March 31, 2011."  



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