ORIX Bank Begins Offering Ohitorisama Support Trust

TOKYO, Japan – October 1, 2024 – ORIX Bank Corporation (“ORIX Bank”) announced that it will begin offering “Ohitorisama Support Trust” from today. This is a product where ORIX Bank manages money entrusted by single senior citizens to lifelong support providers^*1 (“providers”) offering services to senior citizens and such.

In Japan, it is estimated that people 65 years old and above living on their own will exceed approximately 20% of all households in 2050^*2. Amid rising demand for services targeting senior citizens who live alone, there are also problems^*3 between users and providers in money management that is necessary for signing surety contracts that are needed when being hospitalized and such as well as contracts regarding delegation of after-death matters, including funerals and the handling of possessions left behind. As such, the Government of Japan formulated a set of guidelines^*4 for lifelong support providers offering services to senior citizens and such in June 2024, in which it states that the safeguarding of deposits using trust agreements is desirable.

Ohitorisama Support Trust is a money trust product whereby ORIX Bank manages the deposits necessary when senior citizens sign contracts with providers regarding surety or delegation of after-death matters. Customers can apply for this product starting from a value of 100,000 yen, and applications can be submitted easily regardless of location of residence in Japan as all procedures can be completed on non-face-to-face basis. In addition, the product design is easy to understand even for elderly customers, with fees being charged only during application.

ORIX Bank defines “Responding to an aging society” as a material issue in its Sustainability Policy. It will continue to meet the needs of customers that change with the times and work to provide new products and services that contribute toward solving issues faced by Japan.

*1 These are private-sector service providers supporting senior citizens in daily life and after-death matters in place of their families and relatives. There is a screening by ORIX Bank for providers related to this product.
*2 Source: “Household Projections for Japan 2020-2050” (estimated in 2024) by the National Institute of Population and Social Security Research (in Japanese)
*3 Source: “Survey on the Promotion of Consumer Protection in Senior Citizen Support Businesses for Surety and Such” by the Ministry of Internal Affairs and Communications (in Japanese)
*4 Source: “Guidelines for Lifelong Support Providers Offering Services to Senior Citizens and Such” by the Cabinet Secretariat, Cabinet Office, etc. of Japan (in Japanese)

Contact Information:
Investor Relations and Sustainability Department
ORIX Corporation
Tel: +81-3-3435-3121

About ORIX Group:
ORIX Group (ORIX Corporation TSE: 8591; NYSE: IX) was established in 1964 and has grown from its roots in leasing in Japan to become a global, diverse, and unique corporate group. Today, it is active around the world in financing and investment, life insurance, banking, asset management, real estate, concession, environment and energy, automobile-related services, industrial/ICT equipment, ships and aircraft. Since expanding outside of Japan in 1971, ORIX Group has grown its business globally and now operates in around 30 countries and regions across the world with approximately 34,000 people. ORIX Group unites globally around its Purpose: “Finding Paths. Making Impact.” combining diverse expertise and innovative thinking to help our world develop in a sustainable way.
For more details, please visit our website: https://www.orix.co.jp/grp/en/
(As of March 31, 2024)

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, 2023 – March 31, 2024” furnished on Form 6-K.