Introduction of Electronic Contract Services for ORIX Flat 35
~Digitization of housing loan contracts eliminates need for signatures, seals, and stamp duty~

TOKYO, Japan - July 17, 2020 - ORIX Credit Corporation (“ORIX Credit”) today announced that it will introduce electronic contract services^*1 for its Flat 35 and other housing loan contracts^*2.

The introduction of electronic contract services will enable contract procedures to be carried out via computers, smartphones, and other devices connected to the internet. In addition, while physical contract documents are subject to tax, electronic contracts are exempt from stamp duty^*3.

ORIX Credit continues to engage in efforts to streamline its work processes through digitization, such as by implementing AI-OCR and RPA. By incorporating the latest technologies, going forward the company intends to provide its customers with even greater added-value.

*1 The electronic contract services use NS Solutions Corporation’s FINCHUB@absonne system.
*2 Electronic contract services will be available for the following housing loans: ORIX Flat 35, ORIX Flat 35 S, ORIX Flat 35 ONE, and ORIX Flat 35 Tsunagi Loan.
*3　Electronic contract service fees apply separately.

■ Overview of Electronic Contract Service

(1) When applying for a housing loan, the customer submits the “Consent Form for Electronic Contract Services.
(2) After the successful conclusion of the loan screening procedure, ORIX Credit sends a User ID and Password—which are required for logging in—to the customer’s registered email address, and a PIN Code—which is required for electronic authentication—to the customer’s registered mobile phone number by SMS.
(3) The customer logs in to the electronic contract system, and confirms the details of each contract.
(4) After the details have been satisfactorily confirmed, the customer enters the electronic authentication PIN Code.
(5) The contract is complete.

■ Important points
・ The consent of all parties to the contract—obligors, joint-obligors, and security providers—is required to use the electronic contract service.
・ Some documentation (such as those related to taking out mortgages, or applying for direct debits) cannot be digitized and requires physical signatures and seals.
・ Even after electronic contracts services have been introduced, customers can continue to use physical documentation as usual; in this case, customers will be requested to pay revenue stamp fees as before.

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, 2020)

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, 2019 – March 31, 2020.”