Exhibit 8.1

LIST OF SUBSIDIARIES

Name	Country of Incorporation	Principal Business	ORIX Voting Power1
ORIX Auto Corporation	Japan	Automobile Leasing, Rentals, Car Sharing Sales of Used Automobiles		100	%
ORIX Rentec Corporation	Japan	Rental and Leasing of Precision Measuring, and IT-Related Equipment		100	%
ORIX Real Estate Corporation	Japan	Real Estate Development and Rental, Facilities Operation		100	%
ORIX Golf Holdings Corporation	Japan	Golf Course Management		100	%
ORIX Real Estate Investment Advisors Corporation	Japan	Real Estate Investment and Advisory Services		100	%
ORIX Living Corporation	Japan	Senior Housing Management		75	%
Osaka City Dome Co., Ltd.	Japan	Multipurpose Hall Management		90	%
ORIX Asset Management & Loan Services Corporation	Japan	Loan Servicing		100	%
ORIX Eco Services Corporation	Japan	Waste Recycling Consultation, Environmental Management Support Services		100	%
ORIX Life Insurance Corporation	Japan	Life Insurance		100	%
ORIX Bank Corporation	Japan	Banking		100	%
ORIX Credit Corporation	Japan	Consumer Finance Services		100	%
ORIX USA Corporation	U.S.A.	Corporate Finance, Investment Banking		100	%
ORIX Asia Limited	China (Hong Kong)	Leasing, Automobile Leasing, Lending, Investment Banking		100	%
ORIX Leasing Malaysia Berhad	Malaysia	Leasing, Lending, Hire Purchase		100	%
PT. ORIX Indonesia Finance	Indonesia	Leasing, Automobile Leasing		85	%
ORIX Australia Corporation Limited	Australia	Automobile Leasing, Truck Rentals		100	%
ORIX Aviation Systems Limited	Ireland	Aircraft Leasing, Asset Management, Aircraft-Related Technical Services		100	%
ORIX (China) Investment Co., Ltd.	China	Leasing, Equity Investment, Other Financial Services		100	%
ORIX Capital Korea Corporation	South Korea	Automobile Leasing, Leasing, Lending		100	%
Thai ORIX Leasing Co., Ltd	Thailand	Leasing, Automobile Leasing and Rentals		96	%
Another 621 Subsidiaries

⁽¹⁾  ORIX voting power includes ORIX’s indirect voting power.

8.1-1