The Orochi was originally built in 2001 as a concept on a Honda NSX chassis for the 2001 Tokyo Motor Show. Mitsuoka then kept revising the car, showing a new version in 2005 and displayed, at the 2005 Tokyo Motor Show, the Orochi Nude-Top Roadster.
In October 2006, Mitsuoka officially launched the production version of the Orochi, now powered by a 3.3 litre 230 hp (172 kW) Toyota 3MZ-FE V6 engine. Production will be limited to 400 units over the next four years at a cost of around ¥10,500,000 (around $89,000 USD).