Orix Corp spokeswoman Tamaki Shibata was quoted by Bloomberg as saying that the company will spend JPY30bn ($378m) to build solar power stations with a total capacity of 100MW.
Shibata added that a further JPY24bn ($302m) will be spent to lease rooftop space from factories and warehouses for the installation of panels to produce another 100MW of capacity.
The latest move by the Tokyo-based firm comes after Japan introduced an incentive program last month for clean energy, including solar and wind.
The news agency said Shibata also confirmed a report in the Tokyo Shimbun that the Orix Corp may increase the investment to a total of JPY100bn ($1.26m) to build as much as 400MW of capacity.
"We will closely monitor panel and land prices," she said.
In addition, Orix Corp is developing a 2MW solar plant in Kagawa prefecture, which is expected to begin operating as early as January, 2013.
