ORIX Bank Begins Offering e-Direct Family Trusts

TOKYO, Japan - May 19, 2023 - ORIX Bank Corporation (“ORIX Bank”) announced that it will begin offering “e-Direct Family Trusts” from today.

Family trusts are a system of civil trusts that enable individuals to prepare for a decline in competency due to dementia or other conditions, and the resulting loss of the ability to make their own decisions regarding property management, by putting their assets in the care of trusted family members. In the event that a parent or other person who has entrusted property as the settlor loses the ability to make their own decisions, the property can be managed and operated by a trustee, such as their child, who manages the property. In this way, property management that protects the livelihood of the settlor and their family can be realized.

The e-Direct Family Trust is a simple service that supports the formation of family trusts in which the property involved is limited to money. The procedures, from consultation on trust design to the opening of a trust account required to start a trust, can be completed in a minimum period of one month. Regardless of the property amount, the fee is a flat fee of 132,000 yen (including consumption tax), and all the procedures are completed on a non-face-to-face basis. The service can meet the needs of customers who wish to make provision against the freezing of their assets that prevents withdrawal of money from their bank accounts because of a decline in competency due to dementia or other conditions^*1.

In Japan, the “aging of financial assets” is progressing as more than 60% of the approximately 2,000 trillion yen in financial assets held by individuals are held by households in their 60s and older^*2. With indicators being that by 2025 about one in five people aged 65 and older will develop dementia^*3, family trusts are being used as property management measures to enable provision for the onset of dementia before it occurs.

ORIX Bank will continue working to provide new products and services that meet the needs of customers that change with the times.

*1 The existing Family Trust Support Service will stop accepting new applications as of May 19, 2023.
*2 Source: Cabinet Office, Basic Data on Doubling Asset-based Income Plan
*3 Source: Cabinet Office, Annual Report on the Aging Society: 2017

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 March 31, 2023)

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, 2022 – March 31, 2023” furnished on Form 6-K.