Venerable Inn with 54-year history, Onyado Toho in Aizu Higashiyama Onsen
Reopening on April 1, 2015

TOKYO, Japan - February 9, 2015 - ORIX Real Estate Corporation (hereinafter, "ORIX Real Estate"), a subsidiary of ORIX Corporation, announced today that Onyado Toho, a hot spring inn in Aizu Higashiyama Onsen that it started operating in June 2004 will reopen on April 1, 2015, following the completion of refurbishments on the lobby, main banquet hall "Hosho", Japanese-style banquet hall "Fuyo", lobby lounge, buffet restaurant "Agaransho", main reception hall and guest rooms, as well as the addition of new bridal suites.

Onyado Toho is a venerable hot spring inn with a 54-year history since its founding in Higashiyama Onsen, one of the three major hot spring regions in Fukushima Prefecture. Onyado Toho is one of the largest hot spring inns in the region. The latest refurbishment includes the following features: 1) The lobby will be redesigned incorporating themes from traditional Aizu techniques of weaving, knitting and dyeing. It will showcase luminous glass pillars etched with a motif based on the stripes in Aizu cotton and an artistically arranged wall with gold and silver leaf expressing the sunset over the Aizu basin to create a bright and gentle atmosphere; 2) The main banquet hall "Hosho", will have a new lighting and projection system making it the first establishment in the Aizu area equipped with 3D projection mapping. The concept of the design is based on the original meaning of the name of the banquet hall, "flying phoenix." The refurbished hall will be designed to convey the motif of a flying phoenix, while the redecoration will create a space with a feel of Aizu's traditions and prestige; 3) The Japanese-style banquet hall "Fuyo", will use colors that represent fine beauty and grace that are associated with the symbol of the fuyo flower (Japanese for confederate rose). The redesigned space will also express intimacy, grace, and flamboyance to evoke an image of a fuyo flower. In addition to these refurbishments, bridal suites have been newly constructed and the lobby lounge, buffet restaurant "Agaransho", the main reception hall and part of the guest rooms will also be renovated.

Onyado Toho will create new appeal as the premium inn in the Aizu area for dining and hot springs in addition to weddings, while retaining its traditional attractiveness as a venerable hot spring inn. While continuing to evolve into a Japanese inn that will attract even more customers, Onyado Toho will strive to provide an enjoyable and relaxing destination and a memorable stay.

Contact Information:
ORIX Corporation
Corporate Planning Department
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 35 countries and regions across the world. ORIX celebrates its 50th anniversary in 2014 and moving forward it aims to contribute to society while continuing to capture new business opportunities and sustain growth by promoting acceleration of its corporate strategy "Finance + Services." For more details, please visit our website: http://www.orix.co.jp/grp/en/

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 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, 2013 - March 31, 2014."