Exhibit 8.1

LIST OF SUBSIDIARIES

Name	Country of Incorporation	Principal Business	ORIX Voting Power1
Yayoi Co., Ltd.	Japan	Development, Marketing, and Support of Business Management Software and Related Services		99	%
ORIX Auto Corporation	Japan	Automobile Leasing, Rental, Car Sharing, Sales of Used Automobiles		100	%
ORIX Rentec Corporation	Japan	Rental and Leasing of Test and Measurement Instruments 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		99	%
Osaka City Dome Co., Ltd.	Japan	Multipurpose Hall Management		90	%
ORIX Asset Management Corporation	Japan	Asset Management of J-REIT		100	%
ORIX Eco Services Corporation	Japan	Trading of Recycled Metals and other Resources, Collection and Transportation of Industrial Waste, and Intermediate Waste Processing		100	%
ORIX Asset Management & Loan Services Corporation	Japan	Loan Servicing		100	%
DAIKYO INCORPORATED	Japan	Real Estate Development and Sales, Urban Development		66	%
NET JAPAN Co., Ltd	Japan	Purchases and Sales of Precious Metals (gold, silver, platinum and palladium) and Purchases and Refining of Precious Metals Scraps		96	%
ORIX Life Insurance Corporation	Japan	Life Insurance		100	%
ORIX Bank Corporation	Japan	Banking		100	%
ORIX Credit Corporation	Japan	Consumer Finance Services		100	%
ORIX USA Corporation2	U.S.A.	Financial Services		100	%
ORIX Asia Limited	China (Hong Kong)	Leasing, Automobile Leasing, Lending, Banking		100	%
ORIX Leasing Malaysia Berhad	Malaysia	Leasing, Lending		100	%
PT. ORIX Indonesia Finance	Indonesia	Leasing, Automobile Leasing		85	%
ORIX Australia Corporation Limited	Australia	Automobile Leasing and 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	%
ORIX Auto Infrastructure Services Limited	India	Automobile Leasing and Rentals		99	%

8.1-1

Name	Country of Incorporation	Principal Business	ORIX Voting Power1
ORIX Taiwan Corporation	Taiwan	Leasing, Sales Finance, Insurance Agency Services		100	%
ORIX Corporation Europe N.V.3	Netherlands	Asset Management		100	%
Another 803 Subsidiaries

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

⁽²⁾  ORIX USA Corporation, one of the Company’s subsidiaries, has changed its name to ORIX Corporation USA on June 1, 2018.

⁽³⁾  ORIX Corporation Europe N.V., one of the Company’s subsidiaries, has changed its name from Robeco Groep N.V. on January 1, 2018.

8.1-2