ORIX Credit to Provide Reverse Mortgage Housing Loans

TOKYO, Japan - June 27, 2019 - ORIX Credit Corporation (“ORIX Credit”) announced today that it launched a reverse mortgage housing loan named “ORIX Re-birth 60.”

The loan is a reverse mortgage housing loan that takes advantage of the Japan Housing Finance Agency’s housing loan insurance. It is available for customers aged 60 or over, and can be used to fund the purchase or refurbishment of housing properties, or to refinance existing housing loans. Monthly repayments are limited to interest incurred only; the principal is either returned by the heir in a lump sum payment when the customer passes away, or is returned via the sale of the collateral property. Since the loan is a nonrecourse loan, even if the sale value of the collateral property is less than the principal and the debt cannot be repaid in full, the heir is under no obligation to repay the outstanding amount.

Reverse mortgage housing loans have seen an increase in use due to the rising needs of senior citizens to either change residence or carry out refurbishments to existing properties. In FY2018, the Japan Housing Finance Agency provided Re-birth 60 housing loan insurance to the value of 4.43 billion yen—a significant year-on-year increase of 521 percent*. ORIX Credit will provide ORIX Re-birth 60 through ORIX Group’s Daikyo and real estate companies affiliated with the group’s housing loan business.

Going forward, ORIX Credit will strive to develop even more convenient loan services, and provide products and services from a customer perspective.

*Source: “Usage data for Re-birth 60,” Japanese Housing Finance Agency

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 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.”