Production to Start at the Large-Scale Hydroponics Greenhouse in Yatsugatake Highlands Following Construction Completion
Sep 15, 2015
TOKYO, Japan - September 15, 2015 - ORIX Yatsugatake Farm Corporation ("OYF"), a subsidiary of ORIX Corporation ("ORIX"), announced that OYF will start leaf vegetable production in its large-scale commercial greenhouse (the "Facility"), which was completed today in Nagano Prefecture.
Seven kinds of leaf vegetables, such as spinach and arugula that are suitable for fresh consumption will be produced in the Facility. The Facility, located at an altitude of 1,100m at the foot of Yatsugatake, enjoys abundant insolation and natural river-bed water, and is expected to produce a total shipment of approximately 430 tons through maximum of 19 harvests annually that is made possible by its hydroponics process which shortens the growing period. Under favorable climate conditions, the Facility will be able to produce and market vegetables with "Four Fixed Factors" (fixed prices, fixed quality, fixed timing, and fixed quantities) throughout the year.
The Facility is located approximately 6 km from the Suwa-Minami interchange on the Chuo Expressway, suitable for the swift transportation of produce to the urban area where a great deal of demand is expected. Utilizing the ORIX Group's sales network and other channels, the vegetables that are produced will be sold on a stable basis to mainly retail and food service industry clients in the greater Tokyo and central Japan areas.
Going forward, OYF will continue to expand its business while contributing to local communities by means of agricultural promotions including renting of fallow lands and creation of job opportunities. OYF will also strive to promote greater consumption of "Yatsugatake Vegetables," a brand for the vegetables locally grown in Yatsugatake Highlands, through its production and sale of high-quality agricultural products cultivated in the area.
|Location||1312 Tatsuzawa, Fujimi-machi, Suwa-gun, Nagano Prefecture and other sites|
|Facility completion schedule||Phase 1: September (Completed), Phase 2: June, 2016 (Planned)|
|Facility space||Phase 1: 6,700 m2, Phase 1 and 2 total: 13,400 m2(Planned)|
|Cultivation technique||Solution culture hydroponics (pesticide-free)|
|Production products||Spinach, arugula, chrysanthemum greens, watercress, brassica rapa, potherb mustards, kale, etc.|
|Planned shipping destinations||Greater Tokyo and central Japan|
|Ownership structure||ORIX Yatsugatake Farm Co., Ltd.
ORIX: 97%; Honda Engei: 3%
■ Interior reference image of the Facility
Corporate Planning Department
ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group that 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 the 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 business 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. 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, 2014 - March 31, 2015."
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