News Release

ORIX Bank Begins Handling “Simple Inheritance Trust (Special Agreement for Bequest to CiRA Foundation)”

Sep 30, 2020

TOKYO, Japan - September 30, 2020 - ORIX Bank Corporation (“ORIX Bank”) announced today that it has signed an agreement with the CiRA Foundation (“CiRA Foundation”), a public interest incorporated foundation, regarding bequests and will start handling the “Simple Inheritance Trust (Special Agreement for Bequest to CiRA Foundation)” on October 1. This is the banking industry’s first testamentary substitute trust*1 exclusively for the CiRA Foundation.

This product enables customers who complete the bequest procedures during their lifetime to donate money to the CiRA Foundation by bequest. The money given as a bequest will be used by the CiRA Foundation for development of next-generation iPS cells and the spread of regenerative medicine.
ORIX Bank’s “Simple Inheritance Trust” is a testamentary substitute trust that can be applied for by performing a simple procedure by post and does not require the creation of a will. ORIX Bank guarantees the principal of the entrusted money and pays a dividend once a year during the customer’s lifetime. No application fees are incurred, and early termination is permitted.

According to a survey conducted by The Nippon Foundation*2, although 42.6% of unmarried people aged 60 years or older have the intent to make a bequest, only about 1% actually do so. Moreover, personal property that went into the national treasury without being inherited amounts to approximately 62.7 billion yen annually*3. With this product, which makes it easy to make a bequest, ORIX Bank will act as a bridge that connects customers’ wishes for social contribution to the development of regenerative medicine using iPS cells.

Going forward, ORIX Bank will continue to address customers’ and social issues and strive to provide products and services that take sustainability into consideration.

*1  Testamentary substitute trust: A product that transfers money entrusted by the customer to the beneficiary designated in advance upon the passing of the customer.
*2  The Nippon Foundation, “Survey on Awareness of Bequests,” conducted in March 2017
*3  Supreme Court, “FY2020 General Account Revenue Budget Estimate”

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.”

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