Electric Power Retailing Business (PPS) to Commence Operations within Tohoku Electric Service Area
Mar 30, 2015
TOKYO, Japan - March 30, 2015 - ORIX Corporation (hereinafter, "ORIX"), a leading integrated financial service group, announced today that starting from April 1, 2015, it will expand the target area of its electric power retailing business and begin operations inside the transmission area of Tohoku Electric Power Co., Inc. including Aomori, Iwate, Akita, Miyagi, Yamagata, Fukushima, and Niigata prefectures.
ORIX commenced its electric power retailing business in 2009 as a power producer and supplier (PPS) (specified-scale electricity utility*1) supplying electricity at a discount to primarily high-voltage commercial sites such as shops and office buildings. Expanding its PPS service area in stages, ORIX began supplying electricity inside the service areas of Tokyo Electric Power Co., Inc. and Kansai Electric Power Co., Inc. in 2009, Chugoku Electric Power Co., Inc. in 2010, and Chubu Electric Power Co., Inc. in 2014. In addition, ORIX has launched a Customer Website free of charge for customers with electricity supply contracts with the company. The website gives customers access to information on their monthly electricity usage and charges, as well as a visible log of the electricity they are using in 30-minute intervals. Such data is available to the customer for both viewing and downloading.
In addition to providing electric power, ORIX also works to serve various customer needs relating to electricity usage, such as ESCO (Energy Service Company) services that aim to reduce energy consumption in buildings, and a storage battery system rental service.
Looking ahead, ORIX will continue to actively expand its environment and energy business, which contributes to reducing customers' energy consumption and costs.
*1 Businesses that supply electric power on a contractual basis to customers in need of more than 50 kW through the power lines of power companies and other general electric utilities.
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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