News Release

Announcement Regarding Strategic Alliance relating to Philippine Power and Energy Business
- Capital Participation in Leading Power Generation Company GBPC -

Jun 27, 2013

TOKYO, Japan - June 27, 2013 - ORIX Corporation (TSE: 8591; NYSE: IX), a leading integrated financial services group, today announced that it has formed a strategic alliance to jointly promote power and energy related businesses in the Philippines with major Philippine conglomerate GT Capital Holdings, Inc. (hereinafter, "GT Capital") and First Metro Investment Corporation (hereinafter, "FMIC") which is the investment bank arm of the major Philippine commercial bank Metropolitan Bank and Trust Company (hereinafter, "Metrobank").

Today, ORIX made a capital participation in the power generation company Global Business Power Corporation ("GBPC"), a subsidiary of GT Capital by acquiring 20% of issued shares owned by FMIC. In addition to expanding their power generation business, as strategic partners, ORIX, GT Capital and FMIC will in the future develop power and energy related businesses including electricity power trading, renewable energy, and energy saving services.

GBPC is a power generation company based in the Visayas region, the central area of the Philippines in which the islands of Panay and Cebu are located. As an independent power producer (IPP), GBPC has built a stable revenue base by owning and operating 9 power plants with a total installed capacity of 627MW which are mainly coal fired power generation and supplies electricity as a base load in the Visayas region. In addition, GBPC has high potential for growth as it is currently involved in multiple new power plant development projects in the same region.

The Philippines has been promoting the improvement of electricity market and regulatory framework through the introduction of IPP using private funds in the 1990s and the separation of power generation and transmission and establishment of the electricity wholesale market thereafter. In the future, with the increase in population and stable economic growth, it is anticipated that the electricity demand will increase further, making the development of new power sources and providing infrastructure urgent issues.

According to the 2013 Supply-Demand Outlook announced by the Department of Energy in January 2013, it is estimated that until 2030 the average annual growth rate (AAGR) of the electricity demand in the Visayas region will be 4.52%, increasing from 1,568 MW in 2012 to 2,237 MW in 2020 and to 3,431 MW in 2030 and that new generation capacity developments of approximately 1,700MW will be required.

In Japan, ORIX is expanding into energy related businesses across a wide range of area including energy saving service business (ESCO), electric power trading and power generation using renewable energy such as solar, geothermal and wood chip biomass.

To expand its business in the Philippines, ORIX developed a leasing company as a joint venture with Metrobank. In addition, ORIX has built a firm business base in the Philippines with GT Capital and the Metrobank Group as strategic partners, developing 825 unit luxury condominiums in 2007 with the major real estate company Federal Land, Inc., a subsidiary of the GT Capital, and engaging in joint development of multiple large scale facilities since 2011.

In the Philippines, where further expansion of electricity demand is expected, ORIX and the GT Capital Group will combine their expertise and business platforms to actively promote their business, setting their sights on joint expansion into new business fields while expanding power and energy related business through GBPC.

■Overview of GBPC
Company Name Global Business Power Corporation
Location Makati City, The Philippines
Representative Francisco C. Sebastian (Chairman and Director)
Established March 2002
Share Holders GT Capital 50.89%
FMIC 29.11%
ORIX 20.00%
Business Electric Power Business
Website Link in New Window

■Power Plants

Power Plant (Panay Island)

Power Plant (Cebu Island)

■Overview of GT CAPITAL HOLDINGS’s Business Structure 
GT Capital is a major Philippine conglomerate with interests in market-leading businesses across banking, real estate development, power generation, automotive and life insurance.

Contact Information
ORIX Corporation, Corporate Planning Department
TEL : +81-3-3435-3121 / Fax : +81-3-3435-3154

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 28 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, banking and loan servicing. For more details, please visit our website at:

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, 2011– March 31, 2012.”

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