News Release

Notice Regarding the Conclusion of a Basic Agreement with Nippon Kaiji Kyokai on Encouraging the Increased Use of Drones in Society

Oct 11, 2023

TOKYO, Japan - October 11, 2023 - ORIX Corporation ("ORIX") announced today that it has concluded an agreement to promote the increased use of drones in society with Nippon Kaiji Kyokai ("ClassNK").

ClassNK's mission is to contribute to the safety of human life, property and the preservation of the environment in transportation and logistics by conducting surveys, certification, rule-making, and R&D as a third-party certification body.

In 2022, the Ministry of Land, Infrastructure, Transport and Tourism of Japan designated ClassNK as the testing agency for a national examination of pilot certificate of unmanned aircraft. The designation was based on its experience in a variety area of certification activities related to transportation and logistics performed from a position of neutrality, and since then, ClassNK has been conducting testing for the pilot certificate of such vehicles.
With this basic contract, ORIX and ClassNK are considering business tie-ups in drone-related services, such as drone maintenance and safety verification for operational management systems.

The ORIX Group has sold and leased drones, provided a variety of drone services, including a training school for professional drone pilots, aerial filming agency, and indoor inspection service through ORIX Rentec Corporation.*1 ORIX is seeking to strengthen its partnerships with technologically capable companies to deepen its knowledge of the drone business. Some examples include its investment in Drone Fund 2*2, an investment fund specializing in drone-related start-up companies officially known as Chiba Dojo Drone Fund II, and its investment in Liberaware*3, a start-up company that develops small-scale industrial drones.

As Japan faces the challenge of a shrinking workforce due to the effects of declining birthrates and advanced aging, expectations are high for drones as tools to improve operational efficiency, achieve labor saving, and create new value.
ORIX will continue to contribute to the resolution of social problems by carrying out initiatives in fields with the newest technologies.

*1 ORIX Rentec Adds Two New Models of Industrial Drones to Its Drone Rental Service (December 2,2022).
*2 ORIX Invests in Drone Fund 2 (May 7, 2019).
*3 ORIX Invests in Liberaware, a Small-Scale Industrial Drone Start-Up (September 1,2021).

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:
(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.

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