ORIX Begins Distribution of Carport-Type Solar Power Generation Systems
Mar 24, 2015
TOKYO, Japan - March 24, 2015 - ORIX Corporation (hereinafter, "ORIX"), a leading integrated financial service group, and TOYOTA TSUSHO FACILITIES CORPORATION (hereinafter, "TOYOTA TSUSHO FACILITIES", and together with ORIX as "the Companies") announced today that they will begin joint distribution of their independently-developed carport-type solar power generation system ("PV Carport").
By modifying the PV Carport made by Schletter GmbH (hereinafter, "Schletter"), a leading German manufacturer with top market share in the solar panel mounting industry, the Companies have enabled the product to be compliant with Japan's Building Standards Act*. Furthermore, the Companies, as the product's distributors in Japan, will provide a one-stop solution for their customers' wide variety of needs from proposals on installation to design and construction, and post-installation maintenance.
PV Carports make effective use of mainly flat car parking spaces with their ability to generate solar power, which contributes to the reduction of environmental impact from power generation, as well as improving the satisfaction of car park users by providing a heat barrier and protection from rain during inclement weather. Moreover, the installation investment cost can be offset by electricity sales revenue, enabling more efficient investment compared with ordinary carport installation.
As the Companies' first project, a 189 kW PV Carport, enough to cover 84 cars, has been installed over part of the car park of the Ogawa outlet of Karimoku Furniture Inc. in Chita, Aichi Prefecture. The installation is expected to generate 193,890 kWh of electricity for the first year of operation, which will be sold to Chubu Electric Power Co., Inc.
ORIX and TOYOTA TSUSHO FACILITIES will continue to offer new value-added services and contribute to the wider usage of solar power and other renewable energies.
* The product is designed to original Japanese specifications by a consortium of companies led by TOYOTA TSUSHO FACILITIES.
Corporate Planning Department
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 its first overseas expansion into Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in a total of 36 countries and regions across the world. Moving forward, ORIX 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."
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