DAIKYO Launches New “DAIKYO Quality Support 10” Service Offering 10-Year Warranty Periods for Residential Facilities and Equipment

TOKYO, Japan - July 14, 2023 - DAIKYO INCORPORATED (“DAIKYO”) announced today that it has launched a new “DAIKYO Quality Support 10” service offering 10-year warranty periods for residential facilities and equipment of new condominiums being sold by DAIKYO. This service will be offered for properties that are sold by DAIKYO.

DAIKYO Quality Support 10 is a service that extends the warranty periods of facilities and equipment of exclusive areas in new condominiums. For a fee, these warranty periods can be extended from two years after handing over to 10 years. There is a growing trend of residential facility and equipment defects due to deterioration and wear-and-tear from the third year onward, after the termination of manufacturers’ warranty periods. Amid such a trend, this service can assure longer periods of peace of mind and comfort for cherished homes through proper maintenance without having to worry about incurring sporadic repair expenses.
Under this service, specialist staff will visit homes to carry out repairs and parts replacement at no extra cost for unlimited number of times when there is a breakdown or defect with the residential facilities and equipment within the user’s exclusive area. In addition, specialist staff will also arrive to respond to urgent situations such as blockage of toilets and loss of keys. Besides a basic repair and inspection service that addresses defects with residences, DAIKYO also offers a cosmetic repair service assuring up to 30,000 yen each year for expenses of minor repairs—such as for scratches on floors and peeled wallpaper—for upkeeping the appearances of homes. This is the industry’s first^*1 residential facility warranty that includes a cosmetic repair service allowing residents to undertake repairs at the timing of their choice^*2.
Furthermore, when selling homes during the warranty period of this service through exclusive brokerage agreements—privileged or otherwise—with DAIKYO’s group company DAIKYO ANABUKI REAL ESTATE INCORPORATED, there is also a system for certified warranty of pre-owned residences that allows the new owner to take over the warranty period.

DAIKYO will continue to create pleasant residences that meet the needs of its customers.

*1 According to DAIKYO INCORPORATED’s research
*2 Subject to a maximum repair amount and number of times each year

■Overview of DAIKYO Quality Support 10
This service offers response to defects and emergencies, periodic maintenance, and such for the various residential facilities and equipment found within the user’s exclusive area for a full 10-year period, even after the termination of the regular after-sales service period (two years after handing over). It addresses concerns with homes through comprehensive service and support.

■Details of service
(1) Extended warranty service for residential facilities and equipment
Specialist staff will visit homes to carry out repairs and parts replacement when there is a breakdown or defect with the residential facilities and equipment within the user’s exclusive area. There is no limit to the number of times and no extra cost.
* There are certain cases outside the scope of this service.

(2) Home visit service & urgent repair service
Specialist staff will visit homes to carry out initial response to issues with a high sense of urgency, such as blockage of toilets, loss of keys, broken glass, and replacement of lights. For cases that are not solved by the initial response, DAIKYO will bear up to 50,000 yen (excluding taxes) for expenses of repairs undertaken as secondary response.

(3) Cosmetic repair service
Repairs will be carried out for issues such as scratches and dents on flooring, doors, pillars, and other such areas as well as stains and scratches on wallpaper. DAIKYO will bear up to 30,000 yen (excluding taxes) for expenses of repairs. This service can be used once per year.

(4) Periodic inspection service for exclusive areas
In addition to inspections under periodic after-sales service (third month, one year, and two years after completion), specialist staff will visit during the fifth and ninth years to carry out mass inspection of the entire condominium. If defects are found, responses will be taken for applicable equipment and areas through the extended warranty service for residential facilities and equipment as well as the urgent repair service.

(5) System for certified warranty of pre-owned
When selling homes through exclusive brokerage agreements—privileged or otherwise—with DAIKYO’s group company DAIKYO ANABUKI REAL ESTATE INCORPORATED, the new owner can take over the warranty periods of periodic after-sales service and DAIKYO Quality Support 10.

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.