<SEC-DOCUMENT>0001193125-13-467507.txt : 20131210
<SEC-HEADER>0001193125-13-467507.hdr.sgml : 20131210
<ACCEPTANCE-DATETIME>20131210060757
ACCESSION NUMBER:		0001193125-13-467507
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20131210
FILED AS OF DATE:		20131210
DATE AS OF CHANGE:		20131210

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ORIX CORP
		CENTRAL INDEX KEY:			0001070304
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS BUSINESS CREDIT INSTITUTION [6159]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14856
		FILM NUMBER:		131267168

	BUSINESS ADDRESS:	
		STREET 1:		WORLD TRADE CENTER BLDG.
		STREET 2:		2-4-1 HAMAMATSU-CHO, MINATO-KU
		CITY:			TOKYO
		STATE:			M0
		ZIP:			105 6135
		BUSINESS PHONE:		81334353000

	MAIL ADDRESS:	
		STREET 1:		WORLD TRADE CENTER BLDG.
		STREET 2:		2-4-1 HAMAMATSU-CHO, MINATO-KU
		CITY:			TOKYO
		STATE:			M0
		ZIP:			105 6135
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d640004d6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 6-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:3px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>SECURITIES AND EXCHANGE
COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>WASHINGTON, D.C. 20549 </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>FORM 6-K </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>REPORT OF
FOREIGN PRIVATE ISSUER </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Pursuant to Rule 13a-16 or 15d-16 OF </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>THE SECURITIES EXCHANGE Act of 1934 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>For the month of December 2013 </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="6"><B>ORIX
Corporation </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Translation of Registrant&#146;s Name into English) </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>World Trade Center Bldg., 2-4-1 Hamamatsu-cho, Minato-Ku, </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Tokyo, JAPAN </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Address of Principal Executive Offices) </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.) </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form 20-F&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form 40-F&nbsp;&nbsp;<FONT
STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(Indicate by check mark whether the registrant by furnishing the information
contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.) </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Yes&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT> </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc"></A>Table of Documents Filed </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="95%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Page</B></FONT></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#fs640004_1">English press release entitled, &#147;Announcement Regarding a Change in Representative Executive Officer&#148;.</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#fs640004_2">English press release entitled, &#147;Announcement Regarding Management Changes and Organizational Reform&#148;.</A></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SIGNATURES </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ORIX Corporation</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date: December 10, 2013</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Haruyuki Urata</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Haruyuki Urata</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Director</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Deputy President &amp; CFO</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">ORIX Corporation</FONT></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt;margin-bottom:0pt"><A NAME="fs640004_1"></A>


<IMG SRC="g640004logo.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">December&nbsp;10, 2013 </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>FOR IMMEDIATE RELEASE </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contact Information:
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">ORIX Corporation </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Corporate Planning Department </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Tel: +81-3-3435-3121 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Fax:
+81-3-3435-3154 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">URL: http://www.orix.co.jp/grp/en/ </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Announcement Regarding a Change in Representative Executive Officer </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TOKYO, Japan &#150; December&nbsp;10, 2013 &#150; ORIX Corporation (TSE: 8591; NYSE: IX), a leading integrated financial services group, today made public an
announcement regarding a change in representative executive officer following a resolution passed by the Board of Directors on the same day. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. Change in
Representative Executive Officer </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="39%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="39%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:20.00pt; font-size:8pt; font-family:Times New Roman"><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:44.65pt; font-size:8pt; font-family:Times New Roman"><B>New Position</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:55.25pt; font-size:8pt; font-family:Times New Roman"><B>Present Position</B></P></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Makoto Inoue</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Representative Executive
Officer,</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">President and Co-Chief Executive Officer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Representative Executive
Officer,</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">President and Chief Operating Officer</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Representative Executive Officer and Chairman Yoshihiko Miyauchi will continue to manage ORIX Group as Chief Executive
Officer. The management change is effective as of January&nbsp;1, 2014. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. Reason for the change </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The management change is implemented to further enhance the management structure. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. Profile of the newly appointed Representative Executive Officer </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">See attached. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Makoto Inoue </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="74%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Hometown:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3">Tokyo, Japan</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Born:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3">October 2, 1952 (61 years old)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Education:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Mar.&nbsp;1975</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Chuo University, Faculty of Law</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Business&nbsp;Experience:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Apr.&nbsp;1975</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Joined ORIX</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Jan. 2003</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Deputy Head of the Investment Banking Headquarters</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Feb. 2005</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Executive Officer</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Head of the Alternative Investment and Development Headquarters</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Jan. 2006</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Corporate Senior Vice President</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Dec.&nbsp;2006</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">(Concurrent) Responsible for the IT Planning Office</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">May 2007</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">(Concurrent) President of ORIX Computer Systems Corporation</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Jun. 2008</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">(Concurrent) Head of the International Administrative Headquarters</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Jan. 2009</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Head of the Global Business and Alternative Investment Headquarters</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Jun. 2009</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Corporate Executive Vice President</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Jun. 2010</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Director, Deputy President</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Oct. 2010</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">(Concurrent) Head of the Investment Banking Headquarters</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Jan. 2011</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Director, Representative Executive Officer, President and Chief Operating Officer (Present Position)</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>About ORIX </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ORIX
Corporation (TSE: 8591; NYSE: IX) is an integrated financial services group based in Tokyo, Japan, providing innovative value-added products and services to both corporate and retail customers. With operations in 34 countries and regions outside of
Japan, ORIX&#146;s activities include corporate financial services, such as leases and loans, as well as automobile operations, rental operations, real estate, life insurance, banking and loan servicing. For more details, please visit our website:
http://www.orix.co.jp/grp/en/ </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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 to 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 &#147;Risk Factors&#148; in the Company&#146;s annual report on Form 20-F filed with the United States Securities and Exchange Commission and under &#147;4. Risk
Factors&#148; of the &#147;Summary of Consolidated Financial Results&#148; of the &#147;Consolidated Financial Results April&nbsp;1, 2012 &#150; March&nbsp;31, 2013.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-end- </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt;margin-bottom:0pt"><A NAME="fs640004_2"></A>


<IMG SRC="g640004logo.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">December&nbsp;10, 2013 </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>FOR IMMEDIATE RELEASE </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contact Information:
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">ORIX Corporation </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Corporate Planning Department </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Tel: +81-3-3435-3121 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Fax:
+81-3-3435-3154 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">URL: http://www.orix.co.jp/grp/en/ </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Announcement Regarding Management Changes and Organizational Reform </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TOKYO, Japan &#150; December&nbsp;10, 2013 &#150; ORIX Corporation (TSE: 8591; NYSE: IX), a leading integrated financial services group, today made public an
announcement regarding management changes and organizational reform. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="38%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:44.65pt; font-size:8pt; font-family:Times New Roman"><B>New Position</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:55.25pt; font-size:8pt; font-family:Times New Roman"><B>Present Position</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:20.00pt; font-size:8pt; font-family:Times New Roman"><B>Name</B></P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" COLSPAN="5" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:135.70pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Changes Effective as of January&nbsp;1, 2014</B></P></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Representative Executive Officer,</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">President and Co-Chief Executive Officer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Representative Executive Officer,</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">President and Chief Operating Officer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Makoto Inoue</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Representative Executive Officer,</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Deputy President and Chief Financial Officer</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Responsible for
Corporate Planning Department</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Responsible for Corporate Communications Department</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Representative Executive Officer,</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Deputy President and Chief Financial Officer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Haruyuki Urata</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Deputy President,</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chief Information Officer,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Head of Human Resources and Corporate
Administration Headquarters</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Responsible for Secretarial Office</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Deputy President,</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chief Information Officer,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Head of Human Resources and Corporate
Administration Headquarters</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Responsible for Group Compliance Department</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Responsible for Group Internal Audit Department</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Tamio Umaki</TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="38%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:44.65pt; font-size:8pt; font-family:Times New Roman"><B>New Position</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:55.25pt; font-size:8pt; font-family:Times New Roman"><B>Present Position</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:20.00pt; font-size:8pt; font-family:Times New Roman"><B>Name</B></P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" COLSPAN="5" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:135.70pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Changes Effective as of January&nbsp;1, 2014</B></P></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Corporate Executive Vice
President</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Responsible for Investment and Operation Headquarters</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Responsible for Energy and Eco Services Business Headquarters</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Head of Global Business and Alternative Investment Headquarters</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Corporate Executive Vice
President</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Responsible for Investment and Operation Headquarters</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Kazuo Kojima</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Corporate Executive Vice
President</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Head of Real Estate Headquarters</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Responsible for
Special Investments Group</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Responsible for Finance Department</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">President, ORIX Real Estate Corporation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Corporate Executive Vice
President</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Head of Real Estate Headquarters</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">President, ORIX
Real Estate Corporation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Yoshiyuki Yamaya</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Corporate Executive Vice
President</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Head of Domestic Sales Administrative Headquarters</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chairman, ORIX Auto Corporation</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chairman, ORIX Rentec
Corporation</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">President, NS Lease Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Corporate Executive Vice
President</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Head of Domestic Sales Administrative Headquarters: Head of Tokyo Sales</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chairman, ORIX Auto Corporation</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chairman, ORIX Rentec
Corporation</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">President, NS Lease Co., Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Katsutoshi Kadowaki</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Corporate Executive Vice President</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Head of East
Asia Business Headquarters</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Corporate Executive Vice President</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Head of
Global Business and Alternative Investment Headquarters</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Regional Director for China</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Yuki Ohshima</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Corporate Senior Vice President</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Head of Energy
and Eco Services Business Headquarters</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executive Officer</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Head of Investment and
Operation Headquarters</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Yuichi Nishigori</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Corporate Senior Vice President</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Chairman, ORIX
USA Corporation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executive Officer</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Chairman, ORIX USA
Corporation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Hideto Nishitani</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executive Officer</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Head of Investment and
Operation Headquarters</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executive Officer</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Deputy Head of Investment and
Operation Headquarters</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Shuji Irie</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executive Officer</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Domestic Sales Administrative
Headquarters: Head of Tokyo Sales and Head of New Business Development</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executive Officer</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Responsible for Corporate
Planning Department</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Responsible for Corporate Communications Department</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Satoru Matsuzaki</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executive Officer</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Deputy Head of Energy and Eco
Services Business Headquarters</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executive Officer</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Deputy Head of Global
Business and Alternative Investment Headquarters</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Tsukasa Kimura</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executive Officer</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Director, Robeco Groep
N.V.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Masaaki Kawano</TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executive Officer</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Responsible for Group
Compliance Department</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Responsible for Group Internal Audit Department</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Corporate Senior Vice President, ORIX Life Insurance Corporation</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Hiroko Yamashina</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Organizational Reforms (as of January&nbsp;1, 2014) </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New Business Development Headquarters will be newly established in the Domestic Sales Administrative Headquarters. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">China Business Division and Korea Business Division of the Global Business and Alternative Investment Headquarters will be transferred to the newly
established East Asia Business Headquarters. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Business Development Department, Energy and Eco Services Department, Electric Power Business Department,
Storage Battery Business Department, Administration Management Department and Technical Administration Department of the Investment and Operation Headquarters will be transferred to the newly established Energy and Eco Services Business
Headquarters. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>About ORIX </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ORIX Corporation
(TSE: 8591; NYSE: IX) is an integrated financial services group based in Tokyo, Japan, providing innovative value-added products and services to both corporate and retail customers. With operations in 34 countries and regions outside of Japan,
ORIX&#146;s activities include corporate financial services, such as leases and loans, as well as automobile operations, rental operations, real estate, life insurance, banking and loan servicing. For more details, please visit our website:
http://www.orix.co.jp/grp/en/ </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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 to 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 &#147;Risk Factors&#148; in the Company&#146;s annual report on Form 20-F filed with the United States Securities and Exchange Commission and under &#147;4. Risk
Factors&#148; of the &#147;Summary of Consolidated Financial Results&#148; of the &#147;Consolidated Financial Results April&nbsp;1, 2012 &#150; March&nbsp;31, 2013.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-end- </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g640004logo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g640004logo.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`80!5`P$1``(1`0,1`?_$`+L```("`@,!`0``````
M``````@)``<&"@$#!0($`0`!!`,!`0``````````````!`4'"`(#!@$)$```
M!@$"!`0#!`@$!@,````!`@,$!08'"`D`$1(4(1,5%C$B%W$R0AA!8;'!(R0E
M"H+",T-1-$4W>!EEM281``$"!`0#!08#!@0#"0$```$"`P`1!`4A$@8',4$3
M46$B%`AQ@9$R0A5B(Q:AL5(S)!>2="48<C0UP>&"0U-C<Y,H"?_:``P#`0`"
M$0,1`#\`W^."")P01."")P01P'P#[`X((@?`/L#@@B!\`^P."".M15)NB===
M5-%%%,RBRRIRII))IE$QU%%#B!"$(4!$1$0``X.$9(0MQ8;;!4M1D`!,DG@`
M!Q)[(`C.^Z)H)TX]XTR7J6QUZ^Q(/F5&ER1\BVT5RCT@T4@Z.C/.F#DY@$`!
MWVY0$/$P<(W[A14Y`=<2%'@)S)]@$6"T!Z5/4%N7TW=,:7N7V]PX5%2@4=/+
M^(.U1:2L?_'G/8("<^[AGW/'F,M!VW3J!S"T<'(A'91S&DTPSB_FI]Q\1[('
M=)2;,`^;H&19+"4!\`'A(;F^\/Z&G<7,?,KP)GWS\6/:`8G)/H]V]V_`?]0&
MY6G;*\D$KH;<57*NP^DI0$J;5RGT'4@\X:GZUJ-_++[@]FT+\U7TB]5]@>KN
M/IM]9O;7=>U/7/4.Y]J>Z/Y7NNZZNW^?S/Q<.4W>C.0Z^7ARG+A/LG%2_);:
M?W1^W>=N/]I?O/3\WTQYW[;U\OF.EDR^8Z'CR9)9_#EY00/&V(]B<$$3@@B<
M$$4_E?4!@W!$2>;S/EW'.+HU-$5@7O%P@JXHX('AR9-))\@\D%!'X$034.;]
M`#QK<=::&9U24CO,H['2.WFO-?U8H=$V:YW6J*I2I:9UX)/XU(24H'>L@=\*
MVN>^?I6<33BF:8Z'GO67?$U2MF\-@G%]@=PIW!OE+W5AG6<>JFT$XAS7;,G:
M?+F("(!PVJO-*3EI@MY?+("1_B^4>\Q:ZR>@O=INA3?-TKAI[1.GRG,IRZUS
M*7<H_A9:4L%7X%NMJY2G&)AE_?`U,]),9:>,"Z%Z2^5,"%HSE9E,DY,;LC%^
M1=&LQ+=VS:O2E$!\E]")?-S`3^'&/5O#_P#+;;83R*SF/O2,/@HP[G1OH2VO
M!.J=2:@U[?&TB;%K8\E1%?-)><4E2D_B:JE82,H`74=C'2UCN=?PFZENWYUU
M"9!BQ1";TY8?=257A6SZ010>MHA[CZB-K)Z?W39RD=(7`0ICI*%-S*4P#PC?
M;IVU9+E5+6YQR).7&7`!.)'<3%A=L]5;KZEH&Z[TF[/6#3FG79]*\W%*'G5(
M02E3B:RJ4P5R4E04$&J`4DC$@B,CP1=*A&=JEM=[(L[-'`Z3>)U`ZI(UA3(\
MQ2``IRZ%AOSR<G)!$YN2A@:3S4_(1Y$`?#C)E:$_],HSCCF6`@3[YS5^R&S7
MUDO-4%J]5F^M.P)%3EHL2UU*YGBVIFD2TV@C$?F4C@_$>,7OE:H[C$U##/Z[
MMT#3WH#QVX0677H.`21,1:.P.7I].:72TR,'9#/`2^0.Q?20"//I(;X<;G47
M!2"JKJ4,-RX(`F.WQ*G/X".!TE>/370UGV_8':K4>X6I$J`%7=NHXP%_QJIF
M$.L99X_FLL'M4(:YVF)O_7WV/Y@[G]%ORQ]M^:#UM[[]]A^P?+^L_N'L>_\`
M<GI7]6[OM_,\_P"?HY^'#IX/*_,>GD^;G*7'X14;K:P_W$]?].4/ZX_54_L?
M23Y3S?FY_;>CGR='J?T_3SRR^&<&1+3$3`Q[J6G)2.AHIDF*SV3E7K:.CV:)
M?$RSIZ\51;-TB_I,<P`'&\D`3.`B%Z2CJ[A4HHZ!IQ^K<,DH;2I:U'L2E(*B
M>X"%QYKW?=O7!BRT9-ZB:M>[017MD*=AM-WEFPO'@\P*Q2&F)2<(V=F/\H%<
MO6_B(>/"!^Z4-.<JW`7)3RI\2C[`)DQ9;0WHV]1NO4)J:'3=7;[44YC4W(IM
M[*4_Q'S)0ZI/.;;2\(%Q3<TUR9^.5GHIVSLKN(AZH<L?E;5/(ML04_MC`/E2
M2=>7<,5Y5H(<C@#:8,H)1#D3GQH-?6OS%'3JER4X<@/NQ4#[1$K)]+FP^WB>
MMOENC:$UJ`"N@L2%7&HS<T%X)6&U<O'3!(,_%%`9@JVN&19'D]PK=RP=HHJ3
MELHL\Q1IO6AZS:3M%_OL&UIFGT%=W+CRA$G\N,L4W/P`W&EU%:055M4AEOC)
M``(',$JG/V@")"T9=MB*9\4OIRV=OVN;PE0":^\AQ]@*3]:F&DO4H$\?&*8X
M8R@**:KM#5^TN#8"TMZO-V3-)7)$75PLL'>;O6WDB01$7$P^GV,+`D:*KB/\
M56OOB`4W,3"'CPB1]IS?D-.U3HQ!.90/L4KP^Z<3C>D>L>XVE)W"U7HW:'0Y
M22FF9=I:9Y*.QI+2G7<P'TIK&C,2RCA#!,&;KR>FO+H8)UT:/(3;GQW<ZW%V
M'!TE`1(/Z>*15G;>0C+M)5**0A$'1B"B!5&C-+TU4ITWR:0*IJ`X-W$4[G2K
M6PPA0!2>7>"1A/V3BN^O?2*O<[1W]P-A=:/[E:CHJEQFZ(><R5,Y)4ARF14.
M%TB>::7'5==)2NG4O*I,&5FO>EV[\/5%W/,-0%9R]8>W-Z!0,.G5O%GLDD<@
M@SBT5(](86'.Z7$I!5?NFQ"<_P`0_**EZ[4#(F7`I7(#$GV"(3T1Z(?4AK.\
M(MU1IZJLUN"OSJNY`4K#*!\RR%GJN91,Y6FUDRY#$"GME8!M3VWZJ]TK6SCR
MOXQMNH"2-<:15+U%->_PYAJHQZSPMBDCSS$C^NNGD(Q:(E44*W=F8Q8.%"$!
MT!`T4#*RIRX5:<JUF8!^E(X>S]\2SZI=Q;0Q9])>D_8VXU%UM&G6A35512N'
M)<KE4+"2RV&EY'DI=4XH@%;8=?+:22T5$:XO*6J?6=B.=U:ZA]R5OM_:*;?D
MW(%8P_5Z;6X:AWRYTB(G9-C`."WA[(1MA<2DK'QKA,J;=1^JX,U65*W*GTAP
ME#M15LFK?J.A1%1RR`!*03(E1G,*`G@`0(E"JTKM/LEK"GV>VXVR5N)OE1VN
MD?N+]2\Y5TE-4N-(4Z/*I0XR&T+6A14L,I0'$(4Z53,#G3UMHF"M+@^`=+&K
MW=ES25P1%U<K1"7F[UM[))B(BXF9"PLH:!(T67_W5:\](!3?>$/'A,DVD&=.
MT[5NC$$S4#[%*\,23>D>L6X6E/\`</5FC=H=#Y2I-,P[2TKR4'DTEI;KN8#Z
M4UC1F)2!C9W]6L/Y+_6ORQL/<OT`]0_*#_0O3O4O9?G_`$(Y>E^W/(\S^C<N
MS[3]'D]'R\=),^7GDQR?)[OEX>[A'RQ\E;?[V>0_53GVO]1Y/U%^;GR>:E]U
M_F=:<OZG^9U/QYL8"3=_'0B2C826UU-,OVFN)7F?-C?%V(0LJLAD>U^B-1?1
MDPSK:L<LZ;L6!2'1!608%!10>1S"(EX077R61LUO4*<YRI3F.8Y3,$)XB4\#
MASB=/1K_`'^5J"^HV#79J2Y&@:\[77#HA%&QU%95MJ>"P"M1(5E9>F$XI$IP
M#&#[WGQ)!NSVR]EFFZ?X5PD;T_..J9O%T24.W$/*;R2S%V=A?I@I2<C@*<S)
M=7+[IN$S*WDIR6VC#:!P*Y($CS`$S[C*)\UW8-OEK4[ZH]\*W45:@C/:[$I=
M4V%<2A*DA=(T>4E4K$I\1'=FZAZC"M7#W<QWH*/IQ@G*)?4,(Z6UXJBRQT#@
M*CB-0E$@C+_+@4GRB!XF3ZNGXFY\#R*@#/<:M+;8XA$DX=A)F?>)1AH74&VI
M=2SZ7]D:_4M>A7ANE]#E4V#P2M2#U*1K'$$5-/+N@3\7S.U5!3RJ6C7;YU.;
MFF5"O#F5R1D:NV:QT]U)(#X/IF8NS-6`8E,X+UF65K"0``<^L.$S:K:A6:C8
M=J7QP403QYYUF4O?$NZJHO5G7V]*]Z]Q=+;7:2R845&\PS4I0?H:;IE!U>&`
M2FN4?PPQ5LUWP,HU<K+'=(T=[=5(09*'J=)`8N[7=^_*B=Q%5PP1L;9J3%&D
MCH%14,1FR513ZC`F(AT\+Y7AT2;#+"!P^HG]P2?C%:WG?0EI2ZE[4M?K3<F^
MJ<'F*KQTU*A$Y./>-;%4O),J`+KJ5&0S8SCQG>Z?I[D8,NG7>#TO2>$,E19B
MLYUMD+$KC*."+F_:IB@-OH,LSC+(Z0:2)0%5,Z"3I%`I^E-\KR\//N;&7HW1
MOI.#CF$T'O"N'LG(PN9])NXU-7G<KT9ZK:ONF'AF:-'<!076F2HS\O5H4XPD
MJ1\I"U-K7*:J='/QH+7OL$Z;)%"TX*I&,9W(`G(>%0PSING9.]J/?O((0DO8
MZG"HQCLY_`O2_;^(\N?&"+A9&?%3E"E=B$YC\`)PNK_3[_\`T)W.I56G7U?=
M*?3LCU3<KTTBE">9=;8J'2M('&;2\.4>K8FVMG=Z%M6+KCRVZ$=NKNFLU>T[
MF[",U":AX.-41D$X%6/430"F4UYY(*+F4(#0I0!3SI'I*DGDX*NZ_EK26;?S
MG@M8[/PI/.>/LA%;7-C/1MGNMBN5'K_U)Y%-TIID]2T6AUP%!="P3YFI3/*D
M`]0GPY*:96JK,IY'P]GS(K.S8WPC`9CT"[;%<3Q)A+%C=A'NJ3JJUEY%/"8Q
MH&.:(VDF,I'6.!H35\@FD_%!Z0KY8SKI626*IQJ<>;?<+C*`NCI@0E(`\;AP
M"4DX>'A/A,D$C*8ZS26F]:;>Z:7:]3WZHLOJ%W.J3<+G7E:DU5ATW1AVNJZV
MJ4A;:V'JM2%E36=HEI(9FVM!3%T<]Y7(51'D71MM6X19LQYF$8&Z76O1J@?'
M_J&/8UR@W#_XDQ!+^$>-_P#J[B?_`":9H?\`B,OV`'XQQ7_XITY><3K3=K73
MB_\`W::F>6/_`*ZQ8*O\R#/G#6O2Y3\EGHOYH6_K?T![#\X?F0O9^K>SO)^N
MWF^K>W>U[W^L?\[VG1_N]'S<.4E>7EG&;)\_N^:*C>;I/[W>>_2:O(?J+/\`
MIR3N;I^9G]JET^MFR_T_\KJ3QR9L(P[6Q+:T8Z)QVWT2XFPQ?\@24U-M)ZXY
MLE!85_%4,,8AVT\P;-9&/F)%Y*NSBB9-IYY@(GS.D8OPU59K$A'DT(4HJQ*C
M+*)<1@9F<A+#VX0];&TFR-377)S?.[WNWZ=:8:4U36Q&9VO<SJFTI2D+;0EM
M/B!<R":L%@\4PYTH62&J+EQN?[VD-BR.6`#2>!=*KN*H3L[<@`=>,`L$@2\3
M:'(.@>XKSH3>/,X\-3R74C-<ZP(3P*420/?Q5/O!$7<T#J#3+JTM^E?8QZ[5
M"?DNM^2NK3,X!S\XFE://P5C8'8('7$%CVV8*7%/03M>ZAMPC(2:ZBH9:RY7
M9F1I+B3*8"I24E9,AM9N"C>:W(YCG@(WGX_,'Q!.T;>DYJ*F=J'1AF4,?;F7
M*8]D23K*V^INX4>;U!;JZ<VZTZ4@?;[>\TBJ2CFA#-&IIUS#``5;_+`P?\DU
MWD<@5875RR'HYVL<)-FJ:?D1!("XW6"C#`!A2-)23E[1(YPB@'WF[Z+,00'D
M!>%TKNZ/&IFF9[O$9=Q,@#[C%>*5WT5Z=NW3LMMUINQKI:R9N=:FIGE\)Y$)
M15K!/);50#,8F%R9#BMKJO69)7-FXYK5UU:EA>![/L6$+#:;2[Q_;TSD)&6_
M'S*ND=UIK)UV0Z7+=`DZ]((I=(-S\P**!?VUM4WZA]^I3_"5$@\1X488>SN,
MXLIIRK]5=QM93H;;30^@ML`C^I9N;+#`JZ<XN4]8ITI>4AY$T+6:1HR5,N)X
MAC]-U$:]HC&\:>8P)A_=NTYJ&695S,>+I>N4;+BB$>4&RL9E["]XBI)HWR)$
MJ)BA)LVC1%P@Y*8CGDMU`"]+]<AN:FTU3`X*20%G'@I*L`0..(F9X#A%:;UM
MOZ?JS4KB:+4%ZV>W+`"WK;7-O55OFLY@NW7*E<031N`YF77'5(6@A34T99],
M-K6SK6W2@8&V'LMU6ZJ<TVTE*P%#Q5#H.C?=4<V2/H:1#MP,/,3>>D`AX]0<
M>)KGP?RZ%U)[?RQ+X*,9UVQV@;HR#N!O_:*NQC%2&W:JO<*>82RJK)GW95>P
MQCF6L9:Z=2-1D[INBZBL7:!-&;$A'5NP;ANW-&UNO440$W!JS>\GN7\HD9*2
M(GY9V3%U("\,(IDCRJB0Y?'45M0@KN3B*>C`.9*3B1WKPD)<9">'&''2.J=A
M-L;PU9/2EIJZ[A;V+)33W2Y4ZE4]*O%(?I:$(;(*"9AQUMGI#Q*J5(FDRI,Z
M_G^GU&7Q+/5701HTPO4;K'Z`G&1V32MR&1,P#`/8B6U?SE0M#Z,7/4,6UV;>
MJU?U98'$E-2GJCU0%#($'-L=5L=&3%(A)#4Q*9X9Y8>$#Y093.)Y1[>'[CMW
M>:RBUA3U>X.]E\K*5>K4T2E/(H[=U4N-Z=:J&$+`J:]YII-=Y=.1FF8\HPDI
M#B@!60(O:0K]G15U1:S]5NZCF4'0F;T:E3UPMU9?22/(`9PC"J/64$V067`"
M@BE9U2`7F'0(>'#<X+6DY:MYVK>&!2)JG/M0C#]D6"T]5^L*XVM2-J=$:2VF
MT3DDJJJ6J:G?2@_4ZI]"G5$#ZU4"3.7B$;*'>8S_`/7[WWY<[A](/RP]S^5?
MT1U[Z^G_`-/^OZ-^WNX[SW+Z#_3.U\[S.X^3KY_-QT?Y?E?D/2Z?R\Y2X>WW
MQ\QNAJK_`'#^7_4M%^L_U7+[]U1Y7S?G/^I=;+EZ'5_/ZF663Q9980.N[!&:
M<Y'&F-AU1:R,GZ3<6M;/.+24;BFP2<%8,T*>CH__`)!8D-&3LG)-(I(!7%)-
M@Y+S6YFZ/`W"2YFF#:/-/J9:S'@K+GP/AF,>_#'#LG$C^D:KW)IM57,;5:*M
M.K]5KI&@A=>RVZS;1U#_`%`+KC3:%+/AS%U!\.&;$0F?"MHT'0CLA-N?:-S=
MK4N"*AE6V:LWU]X%(6DCGZ4Y96VY)+:8EB(J#UB8&$.;F;F`E_0V,FB0N=#2
MN.N\"M0E\5+Q(]D7;UQ:M_ZYH_[D]XK%H>S$25;+6\GS00!BV*>B+#B\,/YM
M3PX'F=%HC-X&]U@)/-&HO2!M=872231]/IR<'9KE$19"]9VGN&R2"E48.DD1
MY=;"89"4P_*0.7"PBZNIFZMJF:[!XC[E&0'PB!+35>C2P77RFA]-:RW6UNHD
MYZDNLT[B^2NBR@5"TD\GJ9V8&*C"XK6SV>:]<$%LWZC=7>[3G/SU%D*S7):\
M7J#?R8&Z00B6\&[K\+VBRP\O+2GY%,"FY`40\.&]7VD*(?<=JW>!'B4)]Z4^
M$?"++6A[UFW&RJ1H336CMH-!90%/O-TM*ZA'&;I<2\X%`?4JC9,Q.8@ZL/W'
M7M)1H0FWSM.X.T.TAVW31;9,U%!%5NS*M%_NR#NGU]E`7)PZ%$>O^:2EBCS^
M8Q^%S:ZX@)HZ9#*.$UD`@<B`F<_82(@/65E]/M+5>>]16[U^UW?4*)50V?J/
M,!0^A-2\IZE"9X20JG(E@!&(9"A\6Z7ZY=<KZSMQ&KXZUD3ED]5F+CH1E8/'
MEZGHM8B"!87)>$@6=T_-85]SXHR$A6&$UV8BF9PN9,G&"PW2MJ=K:A*:HGYF
M_">&`*"5!1'*8G#SIRLU9NI<J'2.R6V]5<]E6*;IMT^JFW:NE9<$SU*&YR34
M6PO)^9EFN>INI)0;;"E1@A=5$9/UUA,J[_>6H:F3*!E&'>Z$$8&UNT"")#H,
MY]M06AGKLGW15:IF'K_7QZ7<S<O.+3AQR`']J9?LCH3M+5V^XN4*/3S:'KXR
MJ2RG51=82KD5,FK4$I/'*X1AW174:VTSRMC991@*)JDW',EQ2P/8C4;N-V]U
M@S1ACA?S$O+GS*Y41K$5),X\Q!7]*;1,BNJ0G)$2*"4W"?(PI6<)=J7TGYG?
M"V"`2%8@)[IH23CW1T=4YNA1VU>E+A7Z4VTTP\,KEFT;3INFI:P2,VI4!?<0
MI<\GF%U#*4D^.:01'GY:R5M?Y%OL'=M8&9LK;FVIMM&A'1F'=+U=MR6`*4B1
M7S&U&Q)6:^:KLS59FKT)F<N)Z1=R9R]PY)UF\LGCSEL=7FJUJJ7^!2@*4A/=
ME&`$^:L84Z/TQZJ=-Z?J+%LS9+1M;M:MW,Y<;X]3F[5)(DJJN#SOF%!]0F0A
M%(RVP#TVE91F)@8BN&OF3C`@]OK:?P;H:I+MNF@VR9J*")KEF4:N/NR+JG5Y
MC`W%=V*0]?\`-(2Q1Y_,)^%3:Z]20FBID,HX360"!R("9S'M(B&=96;T]TM5
MY_U%;NW[7E]0HE5#9^H\P%)^A-0ZMZF"9X?EJIB)8!,/!]"U%?EF]M>^Z/\`
MFH^D7I?U&]$/].?K/[9\CW1[>].\_P!H^Z_X_;=IU]K\OE\_#AXRO='+,=?+
MQEA.7&79.*)?<=MO[H_=/M]?_:;[SU/)]4><^V]>?0ZV>7F/+^'/U)=3'-S@
M9MPNWSM.BL0OJ1H*'79DA>S6%*C0SQA`&K^*Y`L2U%S;IV>LD#.Q];0DB'(V
M37$&QCF()06((!S35KBF^GD8+ZRHRE+PX<23P[,,<8E#TY6:@O-;>&+[N#^@
M=,II635.)6\'J]'45*G::9=:6^48K4GQ@`@EM4\`!O,'O$96KQ9C.&I32KM>
M8803(19A27D7/79C'%3`1;N;9.21H)@Y;(^`&CYV/`IA_P!/P`.$2DW9U/YR
MVJ9K\/B/N49`?"+#6"N]%^D;B:+0>F-6[JZV420JI2MJE4LGYDT[2`ZM*CR>
MI'I@?-C"Z)*$V9L?W4CW,^?M4.[+GLYUC-Z_"NKKD:*?2?6``6+1AWD+".D%
M5QY`DI891$"FY>6;D`<(%"T))#ZW*MT&1&*P#WI3@/;_`-\64IJ_UL:CL98T
M5I[2NT.WP`S/.IIJ-Q".UPN)==20/J%'3JF/F$S#!,59/W`YZ'"N;?VU+AK1
M+0';5)!ID+40,/3)0S57Q2D7&/JJPKEH6=`GR/S<(RP&$?F$W"]IVN4`FDI4
MLM\)K(!]H"9S]A(BNVK=+>G>WUOW/U$;MWO76H4+)51V?J5+84.*$UCZWV`F
M>$D*IR.03`\9UQ2U9]VXW4=[MZD4ZBB\MI_TT2[*HM13*`F6BQKE2;/YJ10'
MGY11<5<A^0^)^?CQHJ&@D3NE9))PRID@>Z7B'QB1]`ZN=="&_2;L4@F0#=VO
M;:J@S/!?7J%(;0KZCDKR/PRPC$L'9%T,595!KMI[168=8%N:DZ6N;<NU%5O5
M%I`3]))E2_9+2MB,89500.;RVD(`"/R@3EX8L.42%?Z?2K<<G(J*9<.94N1/
MM$X>->::WYNR5.^I[>*RZ,M"SXK9;Z@&H")?RQ241IRX`,!-RJ[\T'FOB'?`
MU/H-F=RS#I]V^\<F*DD6I8:A?J/DQM'F(!2MU9I560C6+ENC\H'CIN/`##_I
M\@``6=.\5`\:FZ='8GQ*]Q,@/@8K^WK'T);5N*>LMEU%N+J8$GS%R<\G1%<^
M(:`0M22<2'J5Z8'S8SC-\>[%6F`)UO=]4>1LZ:U+V015/)9SR'.J5M-<P@<Q
MV5;AWZ+T$!/SY-W<D]0Y#RZ1`.,DV>E5XJLK?5^,S'^'@/A##J/U\;JFWJL6
MU-ML&A]/D2R6NC:#Q'"2GG$%$Y?6VPTN>,\3#6\58&PG@V(3@L-XEQWB^*(B
M1$6E%J$%6O/(4/`7B\4R;.7R@_I.L=0YOTB/#DVTTTG*TD)'<)14C5NO]<Z\
MK#<-:WBY76K)GFJJEU^7_"'%J"!W)``Y"+9#X!]@<;(Y&./P?X?W<$$+TW#Z
M]EN?H-+)C[7!4="5/9SLJOE7)=A:5D\Q-P'IB81T+5)*SR$*A$R2#DJJIU47
MK980$O2)N72*&N0\M"4M/!A$SF,A,B6$B<`9XSQPP]EC/3A<=(6_45<=1:$K
M-?WE=.VF@HF5/]-M[.<[CZ&$.EQ!&5(2II:>,P)S&NS+H[-E<N2:E[R5K#W=
M<^D4453BXU[?\@13Z3,80*DR38+52'7CE%N?),DE,I`40#I,'APQ$6<KDXIV
MK>.!XK$^\"2`>_"/I'1K]:ESLI38+9HO9W;P@`K6FDI%H0!Q7F%0XE<N99IE
M$S,QC#`L56G<DL$26O:%=L;3KM^X\=)HMD+SG<8F-M8LSAX/G%)J49"6$7_0
M/4(/XV2`3<@,<WQX7MKN*DY:2G0P@B4UD3'9X4\?>8KOJVU>F6W5?W+?O=+4
MNXFI$$J-+:NHMC,/H%34+=9R<ORGV#*9"1%MAM2:IM0!N[UV;DF<;_&.U15D
ML4:?46>&,<F(8/GCUE&:!DIAER,)>I2(;J]/XN?CQL^VU+^-;4+4#Q2CP)]T
MO$/C''_[M]I]O$]'8+;*PVZJ0F2*^[E5RK)CZQF.9I7.0J5IGRE!B8'VHMO[
M3N9F^HFFNB2UC:""A;?D=LOD^T'<B/4+TDA>%II&.=B8>?4S2;``_``X5,6V
MAISF;;3G/$G$GVDXQ#&OO5QZA]R`MB_ZGN#-M7AY>B4*%C+_``E%*&BM/<ZI
M<^9,,*:M6S)N@U9MT6C5ND1%NV;)$0;H)$*!2)(H)%(DDF0H<@*4```^'"[E
M(<(KDZXX\XIYY2EO*))4HDDD\22<23VF.\/@'V!^S@C"('P#[`_9P01`^`?8
M'[.""('P#[`_9P01Q^#_``_NX((&;4=H[TZ:MO82.HC&\?DZ,QK,R=@JD),R
M4VTA4)>78HQ[MS)1T1(QZ$TF+9`H%1=^<@`\Q$@\^$U31TM7E\T@+"#,`XB<
MI3EPX1*&VN\VY6SYN#FV]S<M=3=&$-5#C:&E.EMM16D(6XA9:,R9J;RJ[XQR
MQ7?0QH$J#-"QV'3?I/J+A`"Q[%RZH>+4I5)`WEB9E')>EOIPY#EY&,FFN?J^
M\//ASH+565AZ5MIUN'L0@GXR'[XY;5&M=8ZWKC<M8W6XW2O))SU50Z^H$\9%
MQ2LOL3(=T?JP?KRT7ZE94T!@;5#A'*=B#GRK52R%77UE5*4IC'.WKIWJ,TY3
M(4HB8R:!B@'Q'A56V2[VY.>NIGFD=JD$#XRE',035CL4+4:].VNR2*$37:S#
MR<_/RSH3]K%PT,R6D921="F4YP;L6+8ZJ@@41`I1\.&UM"G5I;;$UJ(`':29
M`?&"%[LMX':_?+H-$-<^G0JR_E^5W60(U@B;S`#RQ,X?=NW3*<!#D)C``\/R
MM*:D2)FBJ)?\!_[((.K'F3,<Y:K+2Y8LOM-R147HBFTL]$LT-;(%PJ0I#*(I
MRT$]?,172*H7K3Z^LG/Y@`>&5^GJ*9PM5*%MNCDH%)^!Q@BML\:J=.VE]K4'
M>H++M/Q*TOLNM7J8YN#]2/0LDZW2;K*Q$6H5!4KB1!)R0Q4?`YP'F4!Y#R44
M5MK[D5BA:6Z6TS5E$Y#M/=!'Z<\ZG,!:7:I$WC4+E2JXBI\W,(UV+LMT=+1D
M,ZG%V3F0;Q0/O(411?.&;)51--02&4!,W3S$HAQC0VZNN3I9H&ENO`3DD3,N
M$Y=F,$6E2[C5LAU&L7RCST;:*;<H&*L]5L<.X*ZBIZOS;)&1B9>.<E^5=E(,
M7!%4SA]XI@X3NM.,.J9>24O(44J!P((,B#[#!%39]U3Z=]+$)7+#J)R_2L00
MMMF35VL2%TE2QJ,].ILU'ZD5%AT*JNWI6B0GZ"E$>7ZQ`!4T-MK[DM3=`TMU
M:$S(2)R':8(NKUF.]#]P>>;TGTKUCNNW<]?IW:=[W':>3WG5VWS>7Y?F_HZ>
MKPX2959LGU3E[X(73NPZ\2[>FCVX9IA(YE/92GY2.QOABNR!#N&,ED:SHO5&
M+^39I*I.'D168J/=R3A$@@+CM2M^H@K`8'_3%D^_79%&LE-,D%;A')`E,#O)
M(`/*<^4$#+MZ[4-%KM<A=5.NR*:ZJ-<^8(IA=<@77-;1K>8W%ZL\V+(M<=X]
MJ\XW<5RN(59HZ3:KKH-2F!RD8C44&I4T@<;[J=YQPVVRGRUF:)2E+?A*Y89U
MJ&)S<<3SQF9F""AU=[4NC75U2W,7,XIJ^*LFQB)W>.L[X>@(J@93QU9FX`K$
M3D7/UEO$N)9LQ>)D,HQ>&5;JI@8"^4ITJD;;7J:[6I[,AU3M.<%-N$J0L<P0
M9RGVC']T$+9T`:TLZ7G#VX1M]:QYDMEU4Z*L;94A%,@F$_=9<Q<2K3L/$6^1
M.<I3/YF/5,S,J^'DH_8RC)94!<BX4/T%\L]$S64%]M*<MLK'$'+_``+F"4CN
MXR'(I(&$H(X_MQL2XIOVU17DL@8SQ[=&\OEC,+28+;Z97+`E*,49IN@FWD_6
M(YV#UL@@`D*57J*0@=(<@#EQGN%4U+&J%%AQQ!#39&51$C+E(X00-FU9"4C&
MV^5KRQ7HH?&4T6QN.5'MRA*O(*R6+J_DE-U1RMV5=6266B@5B;FZL+"-,B8Y
M@8I.D$S&;H!TKM3+>J-&4-3>!_JY<\)/SE'BQ//%.0GOD3B8(NS^YH_[8Z!O
M_-2I_K_Z&\\>$FW/_-5W^35^\00_35#ILQ?JZP1D73WF"("6H^1H):*=J)`F
M64@9-(Q74%:J^Y4(?L+#69=%%XS6`!`JR0`8#$,<IN&MUPJ;56MU](<K[:I]
MQ'-)[01@>Z"-:O:_UISVU_E;-NUAN%75G6*OA"/M&1-.69K`LX:5V9QHV;R%
MI<0$>X<"H9:(LD,BK*5YJ3J61D"/X<`,NFV1XD/4EH1J2E9U-84%3CQ"'6TX
MD+P3/V@R"CP(RKX3,$6AHFQY>]X_5\&YKJ1K4E"Z0,"V"3K6@S!MA2$K"QRT
M+)]+W,5IBE14;23AG*,4UU%!`R2\RBDV(<S>)Y+I;P^SI.U?IVWJ!NKZ0:EP
M<0"/Y8/+`_X22<58$;0'X>?ZN?Q'ES^/PY_\>(Y@C6,_N=H6498/T8Y:<LUW
MV/,4:M*](9"13*=1NDQEHA5:/7>IEYE\E4L$Z:E,8.7F.BD#Q.`#(VW*TFLK
M*4&50[2D(]H.,OB#[H(V7X"=B+1!0ME@'S>4@;%$QL["2;10JK21B)9FC(1K
MYJJ01*HW=LW!%"&#P$I@'B.UH4VLMK!"TD@CL(XB"/6XQ@C4-I*J>5-[S>"R
M5CX?.HN--%.0L=7F69!SCG-V0QSCZJK1BRZ7-%1\6?ITF7I$>KJC%1_"/$J.
M_P!-HZT4S_\`/<K4K2.>7.HS]DE)^(@A<.GW1!F/.6R10M1>G6S9%>73"N5L
MQO\`*FGZ#O\`D.'HNH;$<79FDG-1<C4JK98EN]MM>9H*BF9J1)Y(Q:CAL50S
M@C/ET-QO-)1:R<H*]+?1>:;"'2E)4TX4R!!(.!,N.`,CPG!&UGLX9"T/Y1T=
M5>Y:(<44C"-?>.$V66,7UM(I[)3LHL62`2T1=9IXJYL-I6*BL56+DWRZQGD8
MJDH02<SI$C#5C-YI[LIF\NK><'R+/!2#P*1P'>!P4"((75_<S?\`;#0+_P":
M=3_^C><=!MU_S-=_DU?O$$;.7$<P1I&;M*%SWH-5MSQ!H<Q;6K_#Z`<87QUD
M?/"74F[R%;5UR+GPY3)]`BS.;33F(5PA`-.0@^ER2#@BJ;4@*K3'I<LZ0MB*
MN].*0JO<2$-\D)_]10Y8$%1Y)RCC@/8?ALG:W\;ZPM&%(@:]7J_CC)FG>'@<
M096Q+`L"0;"JOJ_'!'0$]!00]*S"L7"/CC+HD,'4V?).VAQ,=N8YN'UC9JBT
MW=:W%*<IZ@EQ"R9E0)F03S*29=XD1QCR'`_@_P`/[N.4@BCM2NG;%^K'!V1-
M/N9(49S'V2H%:%F$4%`;R4<X*HF\B+!!/1(IZ?8*[+MD'K)?I,";A`@F*8O4
M45EOKZFV5C==2*ROMJF.P]H(Y@C`CL,$)(T]SFY+M0P+33?E#3KD'<+TC4U5
M6-P=G33>>%DL\T>D$4,I&4G(>'IZ5CY&;;P+4P)-563@Z;1(/)3<+HE220[&
MN1I[4ZS<*6H1075>+C;LPTI7-2%@$"9XS&/&0,R2+1RKKOW"]3<&]Q3H-V^]
M0&$[1:VQHE]J4UL0L#A:E8I9/0.U>V*"I*DO9+)=K!&IJ"HU*DBHFDL0#&;.
M2AY8IJ:R6*VK%5>Z]AYM.(:IR7%+ER*I!*0><_B((M[2]MTU+;ZT'ZA,>UV2
MG\OYMRICO)]QS7D\(B0DK?EK)LM29])%K#0[8)&:7C6CI\HWBF(&<.EUW"JQ
MQ.Y=*\TEQO[M]O=/4.!+5&TXA+:)R2A`4.)P$\,3@,`.`$$5?_;PXIREA;;?
MK6/LQXUON*+S%Y=RJ[>U'(U4FJ=8464I*,7T:_"*G6;)VJP?-E@%)<A3)'$#
M%`>HI@!5KVJIJS4*GZ1Q#K!:1)2"%#`2.(Y]T$!MJ!TQ:D=J;<!C-:^@O#.0
M<U:6]34UZ3JKTP8CK4C9)"MRKERO)R5HJ]6AD%C,FJBSAQ*0KE-,J,?)BZC5
M1392")2NM#<;?J:Q&SWMYMFY4R9L/.*`!$I!*E'CR"AQ(DH3*3!%D[_%`REJ
M1P[H*D\'8<S+DL6FI6L9-G8FK8JO4G8:A36\`0[N2NE?1@QEJDNT4D$TE&S]
M)!P"P')T"9,_3HT-44UOJZY-:\RW_3J0"I:0%*GP29R5PXB8@@F-Y+.NL1KC
M:L:3]#6%LOVS+.I59I4[1G"KTJU*4'!V/;#()U^1?2E^91BL17K//=R=,7!E
M04A(HCEZ<"*]H)FW25%:55"KI>GFDTM/X@VI0S.*`F`$\2!V?49)X3@@S=N_
M0IC3;VTT5#`U`(WE)I,A;!E&_"U!"3R-D:0;($G;&\$W-9*.1\DK2,:B809Q
MR"2?S'!0YVF_7JIOUQ77/S"."$\D('`#OYD\S,P0DW69I?U"[<>X_0MQC0CA
MO(67L5Z@)=W6M76GG$-6FK-(KFD%$Y2T61E`03-R5LTLQ4!EV3@Q0296EH<#
M"",D9/CL+3<J'4&GEZ?O;K;52P)L.N*"1V`$GL^4CF@]J9P1LS^]HWV#]1/3
M;1Z1[3]X^C^UIWWIV'I'K/IGLOL?<GN;R/X7IG;=[W7\'R_,^7B.^DKK^7FG
M/GRSS#+.<IYIREWSE+&<$9CQJ@B<$$3@@B<$$3@@CY+_`)2_OX((^N"")P01
5P'P#[`_9P01P7_*7]_!!'UP01__9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
