ORIX Invests in Drone Fund 2
Strengthened partnership with drone-related enterprises for creation of new services
May 07, 2019
TOKYO, Japan – May 7, 2019 – ORIX Corporation (“ORIX”) announced today that it has invested capital in Chiba Dojo Drone Fund II Investment Limited Partnership—Drone Fund 2 (Manager: Kotaro Chiba, Kamakura Investment K.K.).
Drone Fund 2 is an investment fund specializing in investment in drone-related startup enterprises. It was established in August 2018 with the aim of realizing an ‘air mobility society’ where use of drones is the norm. In addition to the capital investment, ORIX will deploy staff members to Kamakura Investment with the aim of deepening its knowledge of drone-related businesses and securing business opportunities. This comes against the background of a predicted future expansion in drone-based services and social systems.
Through its Group company ORIX Rentec Corporation (Head Office: Shinagawa-ku, Tokyo; President: Shinichi Obara), ORIX launched drone sales and rental services in 2017. It is also developing other drone-related services for corporate customers including a ‘drone training school’ and an aerial filming agency.
The Japanese drone market is forecast to experience major growth between 2018 and 2024, expanding from 93.1 billion yen to 507.3 billion yen. (*) Among the anticipated uses of the technology are not only infrastructural inspections, agricultural spraying, and applications in logistics and other fields, but also deployment in the air mobility field including in the development of flying vehicles.
ORIX is committed to contributing to the development of the drone industry through deployment of its own corporate resources and through partnership with drone-related enterprises.
* Source: Impress Research Institute ‘Drone Business Research Report 2019’
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 entering Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in 37 countries and regions across the world.
Going forward, ORIX intends to utilize its strengths and expertise, which generate new value, to establish an independent ORIX business model that continues to evolve perpetually. In this way, ORIX will engage in business activities that instill vitality in its companies and workforce, and thereby contribute to society. For more details, please visit our website: https://www.orix.co.jp/grp/en/
(As of March 31, 2019)
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 that 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 “1. Summary of Consolidated Financial Results” of the “Consolidated Financial Results April 1, 2018 – March 31, 2019.”
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