Demonstration Tests to Begin at Umekita Sotoniwa Square
- Urban development that fuses “midori” and “innovation” at the Umekita Second Zone Development Project -

TOKYO, Japan - November 17, 2020 - The joint venture of nine companies (“JV9”), led by MITSUBISHI ESTATE CO., LTD. that has been selected to develop the Second Zone in the Umekita Area, announced that it will carry out demonstration tests for cutting-edge activities in the field of “midori^*1,” with the goal of strengthening the international competitiveness of Osaka and the Kansai region. The tests will take place at Umekita Sotoniwa Square, a space designed for carrying out demonstration experiments into future urban development in cooperation with local communities, administrations, and private enterprises.

The tentatively named Umekita Second Zone Development Project is founded on the urban development philosophy of fusing “midori” and “innovation.” As part of the project, JV9 is planning to manage and operate the urban parks overseen by the Urban Renaissance Agency (“UR”), an independent administrative agency responsible for maintaining disaster prevention parks.
JV9 has been chosen as a partner^*2 for the “Pioneering Project for Midori in the Umekita Region.” This project will be run by UR on land to the west of the Umekita Second Zone, and is set to take place before the zone’s advance city opening in 2024. JV9 will operate the Umekita Sotoniwa Square for a period of 1,000 days until March 31, 2023. Through these demonstration tests, JV9 seeks to realize cutting-edge and attractive park and area management. This is expected to form main items for urban reconstruction in the Umekita Second Zone Development Project, which was confirmed in April this year.
In the age of the new normal, JV9 anticipates the formation of smart cities that utilize advanced technologies and that are based on public-private partnerships and, through its demonstration tests, seeks to contribute to the generation of new businesses. To this end, JV9 intends to collaborate with ambitious partners in a variety of fields, to hold events and demonstration tests that lead to the effective use of public and open spaces which, in turn, will contribute to urban development tailored to the post-COVID-19 society.
JV9 will seek to use what it learns from these demonstration tests in the Umekita Second Zone Development Project. By creating urban environments that incorporate midori and overflow with vitality, and by creating spaces and opportunities that enable a variety of people to attempt new activities, JV9 will seek to establish a creative and dynamic “Osaka Midori Life”.

^*1 “Midori” refers not just to safeguarding parks and other green spaces in urban areas; rather, it is a new urban development philosophy that seeks to establish novel future-oriented relationships between cities, nature, people, and their environments, to fashion unrivalled appeal, and to create new urban culture.
^*2 “Partner” refers to a joint venture comprising nine companies: eight of the JV9 companies, excluding Mitsubishi Estate Residence Co., Ltd., plus Hibiya Amenis Corporation.

1. Initiatives at Umekita Sotoniwa Square

Basic Policy
1. The tests are intended to contribute to the advanced management and operation and to environmental improvements of urban parks.
2. The tests incorporate various ideas and corporate activities aimed at the generation of added value that contributes to sustainable park management.
3. The tests are aimed at energizing activities at urban parks, and at creating new communities.

1. Tests intended to contribute to the advanced management and operation and to environmental improvements of urban parks

• Improve the quality and efficiency of green space management through the use of robots, AI, and IoT
• Improve services related to safety, peace of mind, and comfort through the use of ICT
• Create high-quality, lively midori environments through the participation of creators

2. Tests incorporating various ideas and corporate activities aimed at the generation of added value that contributes to sustainable park management

• Use high-quality midori areas as workplaces that generate synergistic effects
• Use midori as a medium for corporate promotions
• Implement demonstration tests aimed at useful new services and businesses—such as MaaS—for visitors

3. Tests aimed at energizing activities at urban parks, and at creating new communities

• Establish “incubation stores” aimed at uncovering and nurturing personnel wishing to open new stores
• Use activity tools that help visitors relax and interact with each other
• Use midori to provide attractive spaces for local residents’ activities

Previous initiatives

Call for demonstration tests
Umekita Sotoniwa Square is calling for applications from companies and organizations wishing to carry out demonstration tests in line with the above basic policy. Interested parties are asked to telephone Hankyu Corporation on +81-6-6376-4660, or contact UR via the official Umekita Sotoniwa Square website.

Umekita Second Zone Smart City Model Project
In July this year, the Umekita Second Zone Smart City Model Project was selected as an advance project for the MLIT: Smart City Model Project 2020. JV9 will therefore take advantage of subsidies to carry out the four demonstration tests outlined below, which are aimed at resolving urban issues and being applied in the Umekita Second Zone.
Moreover, the implementation of these demonstration tests will be overseen by the Umekita Second Zone Smart City Formation Committee’s Umekita Second Subcommittee. The subcommittee is formed of Osaka Prefecture, Osaka City, UR, West Japan Railway Company, and JV9. The demonstration tests have been planned to coincide with Innovation Stream KANSAI 2020. This event is run by the Committee for Promoting the Formation of a Center for Fusion of Midori and Innovation at Umekita Second (https://umekita2nd-isk.com/ (in Japanese)), and will take place on December 15–16, 2020 at Grand Front Osaka.

(1)Using AI cameras to detect human traffic flows, attributes, and designated behaviors in outdoor environments

(2) Personal mobility

(3)Remote communication robots

(4)Remote green management systems

2. Overview of Umekita Sotoniwa Square

Project operator	Urban Renaissance Agency (Independent Administrative Agency)
Partners	Hankyu Corporation (representative office); MITSUBISHI ESTATE CO., LTD.; Osaka Gas Urban Development Co., Ltd.; ORIX Real Estate Corporation; Kanden Realty & Development Co., Ltd.; Sekisui House, Ltd.; TAKENAKA CORPORATION; Umekita Development Specific Purpose Company; Hibiya Amenis Corporation
Location	5-2-1 and 5-1-4 Nakatsu, Kita-ku, Osaka City
Site area	Approx. 2,300m2
Project duration	July 4, 2020–March 31, 2023 (1,000 days)
Official Umekita Sotoniwa Square website	https://sotoniwa-uk.com/

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.”