ORIX Auto Introduces New Fixed-Fee Plan for Unlimited Use on Weekdays, the First attempt for Major Car Sharing Operators

TOKYO, Japan - February 18, 2021 - ORIX Auto Corporation (“ORIX Auto”) announced today that it will introduce a new “Individual Weekday Fixed-Fee Plan” that allows unlimited use of its car sharing service during weekdays. This plan will be available starting from March 1, 2021. This is the first time a major operator is offering an unlimited car sharing plan at a fixed monthly fee. Applications for the plan will open on February 19, 2021.

This plan is the service that allows cars to be used for unlimited times within the day on weekdays at a fixed monthly fee, regardless of vehicle type, driving distance, and number of uses as long as use of the service falls within the maximum utilization time per use. The plan applies to all vehicle types found at car sharing stations nationwide, and reservations can be easily made through a smartphone app. There will be two monthly fee structures available: 9,900 yen (including taxes) for usage of up to three hours per use, and 16,500 yen (including taxes) for usage of up to six hours per use.

Amid the COVID-19 pandemic, there is an increasing trend in the usage frequency of car sharing services in daily life, such as ferrying family members and shopping. This is because people are avoiding the use of public transportation for movement, spending more time at home due to telework, and other reasons. Short-period use of car sharing is increasing amid the penetration of the new normal. After the state of emergency declared in April last year was lifted, between September 2020 and January 2021, the number of uses within three hours each time by ORIX Auto’s individual members increased approximately 23% compared to the same period during the previous year, and for usage longer than three hours up to six hours, the increase was approximately 34%.

ORIX Auto launched Japan’s first car sharing business in 2002. The company has actively offered a wide variety of automobiles—including environmentally friendly vehicles such as electric and hybrid vehicles—to provide customers with convenient transportation and the joy of driving cars. Going forward, ORIX Auto will continue to actively improve its services so as to satisfy customers.

Contact Information:
Investor Relations and Sustainability Department
ORIX Corporation
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 34 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 September 30, 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.”