News Release

ORIX Car Share Introduce Fuel Cell Vehicles from January 2020

Aug 09, 2019

TOKYO, Japan – August 9, 2019 – ORIX Auto Corporation (“ORIX Auto”) announced today that it has been chosen to provide fuel cell vehicles (“FCV”s) under Bureau of Environment, Tokyo Metropolitan Government’s “Car Rental and Car Sharing ZEV*1 Promotion Project.” From January 2020, ORIX Auto plans to introduce and operate 36 Toyota “Mirai” vehicles in Tokyo; this will mark the first time that the Mirai has been used in the car sharing industry.

Launched in December 2014, the Mirai is the world’s first mass-produced hydrogen fuel cell vehicle. It is an environmentally friendly vehicle which uses a fuel cell to combine hydrogen and air-born oxygen to generate power; as such, it emits no CO2 when driving, which is one of the causes of global warming. It can travel approximately 650 kilometers after being filled with hydrogen for about three minutes*2.

“The Car Rental and Car Sharing ZEV Promotion Project” seeks to the Tokyo Metropolitan Government and business operators work together to create opportunities for Tokyo residents to use ZEVs easily and at a reasonable price, and to promote the widespread use of ZEVs. Through car sharing and car rental businesses which have grown in recent years, they will provide services to Tokyo residents.

ORIX Auto launched Japan’s first car sharing business in 2002. From the beginning, the company has actively offered a wide variety of automobiles, including environmentally friendly vehicles such as electric and hybrid vehicles ; in this way, it has provided customers with the joy of driving cars, and with a reasonable method of using cars only when necessary. Through its participation, ORIX Auto intends to work together with the Tokyo Metropolitan Government to communicate the attractions of ZEVs to its customers.

Going forward, ORIX Auto will continue to improve the convenience and quality of its services, with the goal of further satisfying its customers; at the same time, the company will continue to actively engage in initiatives aimed at reducing its impact on the environment.

*1 “ZEV” stands for “Zero Emission Vehicle.” It is a generic term used to describe vehicles such as electric vehicles and fuel cell vehicles that do not emit CO2 when driving.
*2 Filling times and cruising ranges vary according to prevailing conditions. For further details, please visit the Mirai website:
https://global.toyota/en/detail/4198334 Open Link in New Window

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.”

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