ORIX Auto Launches “Imanori Eleven,” a New Personal Car Leasing Service

TOKYO, Japan - December 20, 2021 - ORIX Auto Corporation (“ORIX Auto”) announced today that it has launched Imanori Eleven, a personal car leasing service with a basic contract period of 11 years that can be cancelled during the contract period.

Imanori Eleven is a personal car leasing service where customers can drive the new car of their choice from 10,000 yen per month. The car can be exchanged or returned freely after nine years of the 11-year basic contract period. The car can be bought out or returned at the end of the contract period. As a feature of the lease, oil changes and basic labor costs for vehicle inspections during the contract period are included in the monthly lease payment, and thus annual maintenance costs for the vehicle are leveled.

The average length of use is 13.9 years for passenger cars and 15.2 years for mini cars, which is now the longest in history^*1. In fiscal year 2020, approximately 70% of ORIX Auto’s personal car leasing service applications were for Imanori Nine, with a contract period of nine years. The use of cars for longer periods of time is expected to continue.
Additionally, as compiled by the Japan Automotive Leasing Association, the number of personal car leases was 437,743 units in 2021, surpassing 400,000 units for the first time^*2. The demand for leases that allow customers to drive cars without complicated maintenance is also increasing.

ORIX Auto has developed its personal car leasing business since 1984, and since 2004, has offered services that meet customer needs such as Imanori-kun, which allows customers to exchange or return a new car after two years, as well as Imanori Seven and Imanori Nine, which provide customers with a buyout option at the end of the contract period while keeping monthly payments low. ORIX Auto has also strengthened online sales through its own website and major online shopping sites since 2010.
ORIX Auto will continue to meet customers’ diverse needs while further enhancing its services.

*1 According to statistics from the Automobile Inspection & Registration Information Association and Light Motor Vehicle Inspection Organization
*2 According to the Japan Automotive Leasing Association

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 28 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, 2021)

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, 2020 – March 31, 2021.”