Three Banks of the Yamaguchi Financial Group Commence Handling of Testamentary Substitute Trust “Gift to the Family”

ORIX Corporation

02/06/2019 3:30 pm

Signing of operating agreement with ORIX Bank to act as agents for trust agreements

TOKYO, Japan – January 25, 2019 – ORIX Bank Corporation has signed an operating agreement with The Yamaguchi Bank, Ltd., The Momiji Bank, Ltd., and The Kitakyushu Bank, Ltd.—subsidiaries of the Yamaguchi Financial Group, Inc.—to act as agents for trust agreements. Through this agreement, the three banks under the Yamaguchi Financial Group will start handling the testamentary substitute trust “Gift to the Family” from February 4, 2019.

The testamentary substitute trust “Gift to the Family” is a product that pays out money to a designated recipient (heir), such as family members of the customer, at the time of inheritance, with the three banks of the Yamaguchi Financial Group acting as the intermediaries between the customers (settlor and beneficiary) and ORIX Bank for the signing of trust agreements.

Going forward, the Yamaguchi Financial Group and ORIX Bank will continue to work on providing even better products and improving services so as to widely respond to the diverse asset inheritance requests of customers.

1. Features of this product
(1) It is possible for assets to be inherited without having to bear the burden of creating a will as the product has the same function of “designating asset inheritance to a specific family member” as a will.
(2) It is possible for the pre-designated recipient (heir), such as family members, to inherit assets without having to wait for inheritance procedures to be completed.
(3) As it is a principal-guaranteed product, it can be used with peace of mind to pass on assets to recipients (heir) such as family members.

2. Service commencement
February 4, 2019

3. Service overview
Name: “Gift to the Family”
Target: Individuals (settlor and beneficiary)
Trust type: Jointly-managed designated money trust
Trust period: Maximum of 30 years from the time the trust is established
Application units: From 1 million to 30 million yen (in multiples of 1 million yen), providing that the amount is no more than one-third of the financial assets held by the customer
Investment method: Bank account loans, etc.
Payment method: Lump sum payment
Principal compensation, etc.: Compensation should there be a loss in the trust principal
Deposit insurance system: Product applicable for deposit insurance
Agents: All branches of The Yamaguchi Bank, The Momiji Bank, and The Kitakyushu Bank in Japan (excluding sub-branches at municipal offices)

Contact Information:
ORIX Corporation
Corporate Planning Department
Tel: +81-3-3435-3121