Green Bond Fact Sheet

Orient Corporation

Date: 16-Apr-2019

Issue date: 12-04-2019 Maturity date: 12-04-2024 Tenor: 5Issuer Name

Orient Corporation

Amount Issued

JPY5bn/USD45m

Country of riskJapan

CBI Database

Included

Issuer Type1

Non-financial
corporate

Bond Type

Senior unsecured

Green Bond Framework

N/A

Second party opinion

N/A

Certification Standard

Not certified

Assurance report

N/A

Certification Verifier

N/AGreen bond rating

Green 1

☒ Energy☒ Solar☐ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ District heating☐ Electricity grid

☒ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Buildings☐ Certified Buildings☐ HVAC systems☐ Energyperformance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☐ Transport☐ Electric vehicles☐ Low emission
vehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewatertreatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ Land use & agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose &paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
ReportingCompany information

As the proceeds of the bonds will be used entirely to for refinancing, the issuer currently
does not assume it will have a need to report on unallocated funds. However, until the bonds
are redeemed, Orient Corporation will manage the Green Renovation Loan Pool separately.
This pool exceeds the amount of the bonds issued. If its balance falls substantially below theamount of bonds issued, the company will report on unallocated funds and the status ofsubsequent allocations. Orient Corporation will also disclose the estimated amount ofelectricity generated and CO2 saved by installing solar power generation systems, etc. on its
website annually. JCR will provide an annual third-party review of the reporting until thebonds mature.
Orient Corporation was founded in 1954. It has four core business areas: instalment sales
finance, credit cards and loans, bank guarantees, and payment and guarantee services. The
company is an industry leader in terms of auto loans and shopping credit transactions, aswell as the balance of bank guarantees outstanding.

Firsts, records andcertifications
Proceeds description

The proceeds will be used exclusively to refinance eco loans (“Green Renovation Loans”) to
individual and corporate customers. The loan funds were spent on installing photovoltaic
power generation systems and ancillary equipment, resulting in CO2 reductions. The
auxiliary equipment included e.g. battery storage and facilities for all-electric homes. Mostloans are worth JPY2m to JPY3m (ca. USD18k to 26k), with an average installed power
output of 5.4 kW. Orient Corporation plans to use the proceeds to fund about 2,000 casesof advance payments.

Climate Bonds view

It is good to see more consumer-focused green lending aggregation in the market,
especially as it extends also to residential loans. CBI would, however, encourage
issuers to disclose their project eligibility requirements in the form of a green bondframework, in keeping with market best practice.

Underwriters

Mizuho Securities Co Ltd, Nomura Securities Co Ltd

Deal comments
Credit Rating

JCR: A-; R&I: BBB+

Pricing summaryInvestors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign