Sumitomo Mitsui Financial Group, Inc.
Sumitomo Mitsui Banking Corporation
ORIX Corporation

Announcement Regarding Transfer of the Shares of ORIX Credit from SMBC to ORIX and
New Business Alliance Agreement Between Four Companies Including SMFG

TOKYO, April 26, 2012 --- Sumitomo Mitsui Financial Group, Inc. (hereinafter, “SMFG”),  Sumitomo Mitsui Banking Corporation (hereinafter, “SMBC”), ORIX Corporation (hereinafter, “ORIX”) announced today a)the agreement to transfer all shares of ORIX Credit Corporation (hereinafter, “ORIX Credit”) held by SMBC to ORIX pursuant to necessary arrangements with the relevant authorities, resulting in making ORIX Credit a wholly-owned subsidiary of ORIX, and b)the entrance into a new business alliance agreement between the four companies of SMFG, SMBC, ORIX and ORIX Credit in place of the previously concluded alliance agreement for the purpose of maintaining the close relationship between SMFG group and ORIX and its affiliated group companies (hereinafter, “ORIX Group”).  The details are as follows.

1.               Purpose
SMFG group and ORIX Group entered into a joint venture agreement in July 2009 with SMBC acquiring 51% of ORIX Credit shares and ORIX retaining 49%. Since then, ORIX Credit has responded to the wide-ranging needs of its customers leveraging the human resources and knowledge of SMFG group and ORIX Group in addition to its own business knowledge.  
ORIX Credit launched its low interest rate, large credit line “VIP Loan Card” in 1987, and has expanded its business operation by increasing the number of customers centered primarily on high income individuals. ORIX Credit has played a major role in the consumer finance business of SMFG group and ORIX Group with exceptionally high-quality assets. Additionally, ORIX Credit has realized synergies within SMFG group through this alliance, such as the business alliance for guarantees provided by Promise Co., Ltd. (hereinafter, “Promise”), a member of SMFG group. As a result, ORIX Credit has generated profit and contributed to both SMFG group and ORIX Group, despite a changing market environment with restrictions on total loan amounts per borrower and a lower ceiling on interest rates.

Currently, SMFG group and ORIX Group have recognized that the consumer finance industry is starting to see a decrease in number of refund claims and a bottom out of borrowings. Based on such recognition, SMFG made Promise a wholly-owned subsidiary on April 1, 2012 with the aim of further strengthening Promise’s collaboration with SMFG’s group companies and creating an organizational framework allowing prompt and flexible strategic decision-making as a group. ORIX Group started a card loan business through ORIX Bank in March 2012 to strengthen its ability to capture future consumer finance demand.
In this way, SMFG group and ORIX Group have developed their respective consumer finance business and plan to concentrate their management resources within their groups. Therefore, as the most appropriate initiative, SMFG group and ORIX Group has reached an agreement that ORIX will purchase all the shares of ORIX Credit held by SMBC (4,004,824 shares, 51% of outstanding) and reclassify it from equity-method affiliate to wholly-owned subsidiary, and that both groups will enter into a new business alliance.

2.               Business Alliance between SMFG and ORIX Group
After the transfer of the shares of ORIX Credit, the four companies of SMFG, SMBC, ORIX and ORIX Credit will enter into a new business alliance in place of the previously concluded business alliance agreement between the three companies of SMBC, ORIX and ORIX Credit. SMFG group and ORIX Group will continue the close relationship and increase the corporate value through this new business alliance.
ORIX Credit will continue to secure a director seat from SMFG, and maintain the alliance including guarantees between Promise and ORIX Credit, and loan servicing business of ORIX Credit managed by SMFG group.

3.          Overview of ORIX Credit

4.      Overview of Sumitomo Mitsui Banking Corporation

5.      Overview of ORIX Corporation

6.      Number of Shares to be Acquired and Amount Held After the Transfer

7.      Transaction Schedule

         April 26, 2012                 Contract conclusion (Share transfer contract, Alliance contract)

         June 29, 2012 (Planned)            Transaction execution

8.             Future Outlook

The impact of this transaction on SMFG's business performance is estimated to be minor.

The impact of this transaction on ORIX's business performance is estimated to be minor.