News Release

ORIX Completes Acquisition of Cosmolife, a Leading Spring Water Producer and Distributor

Oct 15, 2015

TOKYO, Japan - October 15, 2015 - ORIX Corporation ("ORIX"), a leading integrated financial services group, today announced that it has acquired 100% of total outstanding shares of Cosmolife Co. Ltd. ("Cosmolife"), a major producer and distributor of spring water1 .

Cosmolife was founded in 1988 and has established itself as a leading spring water distributor since it started its water home-delivery business in 2005. Cosmolife is known as a pioneer of "One-Way" water delivery service which uses disposable water bottles that do not need to be returned. Cosmolife's water delivery business is conducted under the brand name of "Cosmo Water." Cosmo Water offers different spring water with different mineral content bottled from three famous springs in Japan. Cosmolife further differentiates its service by supplying water dispensers, in which the water bottle is positioned in the bottom (rather than top) of the dispenser system, reducing the burden of loading. Now, Cosmolife is one of the top "One-Way" water home-delivery service providers with more than 300,000 customers (including OEM) primarily in the Tokyo metropolitan area.

ORIX, upon the acquisition of Cosmolife's shares, will be involved in the overall management of Cosmolife and will build a new management structure under a new president. In collaboration with Cosmolife's employees, ORIX will aim to further improve Cosmolife's corporate values through business expansion initiatives such as building a nation-wide sales network and overseas expansion using ORIX's expertise and existing business platforms.

The water home-delivery market has grown rapidly since the Great East Japan Earthquake in 2011. Currently, the estimated market size is approximately 120 billion yen2 . Water delivery using the One-Way method is especially popular given its superior hygienic aspect, and the number of customers has increased by around one million during the last 4 years. Due to the heightening health awareness, the market is expected to continue to expand further. In addition, as Japanese spring water is known to be safe, its demand in China and other countries in Asia is also expected to increase.

Going forward, ORIX will continue to actively support companies with stable business platform, high-quality services, and growth potentials.

1 Prior to the transfer of Cosmolife’s shares to ORIX, Cosmolife’s other non-water delivery related businesses, such as the distribution of nursing care products, have been divested and succeeded by Medicalcare Co., Ltd. (location: Kakogawa, Hyogo Prefecture, President: Tatsuya Orita), a company owned by the founding family of Cosmolife.
2 Source: “Estimated size of water home-delivery market in Japan,” Japan Delivery Water & Server Association

■ Overview of Cosmolife
Company Name Cosmolife Co. Ltd.
Representative Masahiro Sumikawa
Establishment August, 1988
Location 358-1, Kakogawacho Bingo, Kakogawa, Hyogo Prefecture
Business Locations Business locations: 4, water source sites: 3, logistic center: 1,
quality control center: 1
Delivery areas Nation-wide except for Hokkaido, Okinawa and other offshore areas
Number of employees 296 (including temporary and part-time workers, as of the end of June, 2015)
Business Production and distribution of home-delivery spring water

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 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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