Consolidated Financial Results from April 1, 2023 to
March 31, 2024
(U.S. GAAP Financial Information for ORIX Corporation and its Subsidiaries)
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Corporate Name: |
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ORIX Corporation |
Listed Exchanges: |
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Tokyo Stock Exchange (Securities No. 8591) |
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New York Stock Exchange (Trading Symbol : IX) |
Head Office: |
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Tokyo JAPAN |
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Tel: +81-3-3435-3121 |
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(URL https://www.orix.co.jp/grp/en/ir/) |
1. Performance Highlights as of and for the Year Ended March 31, 2024
(1) Performance Highlights - Operating Results (Unaudited)
(millions of yen)
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Total Revenues |
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Year-on-Year Change |
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Operating Income |
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Year-on-Year Change |
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Income before Income Taxes |
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Year-on-Year Change |
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Net Income Attributable to ORIX Corporation Shareholders |
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Year-on-Year Change |
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March 31, 2024 |
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2,814,361 |
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5.7 |
% |
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360,713 |
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7.4 |
% |
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469,975 |
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19.8 |
% |
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346,132 |
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19.2 |
% |
March 31, 2023 |
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2,663,659 |
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6.2 |
% |
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335,923 |
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14.7 |
% |
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392,178 |
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(23.0 |
%) |
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290,340 |
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(8.5 |
%) |
Comprehensive Income Attributable to ORIX Corporation Shareholders was ¥547,310 million
for the fiscal year ended March 31, 2024 (year-on-year change was a 30.1% increase) and ¥420,584 million for the fiscal year ended March 31, 2023 (year-on-year change was a 6.5% decrease).
*Note 1: |
Accounting Standards Update 2018-12 (Targeted Improvements to
the Accounting for Long-Duration ContractsASC 944 (Financial ServicesInsurance)) (hereinafter, LDTI) has been adopted since April 1, 2023, with the transition date of April 1, 2021, on a modified
retrospective approach. |
*Note 2: |
The presentation of equity method investment has been changed since fiscal 2024. As a result, certain line
items presented in our consolidated statements of income for the previous fiscal years have been retrospectively reclassified for this change. |
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Basic Earnings Per Share |
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Diluted Earnings Per Share |
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Return on Equity |
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Return on Assets*4 |
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Operating Margin |
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March 31, 2024 |
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298.55 |
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298.05 |
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9.2 |
% |
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3.0 |
% |
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12.8 |
% |
March 31, 2023 |
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245.98 |
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245.65 |
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8.5 |
% |
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2.7 |
% |
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12.6 |
% |
Equity in Net Income of Equity method investments was a net gain of ¥36,774 million for
the fiscal year ended March 31, 2024 and a net gain of ¥22,081 million for the fiscal year ended March 31, 2023.
*Note 3: |
Unless otherwise stated, all amounts shown herein are in millions of Japanese yen, except for per share and
dividend amounts which are in single yen. |
*Note 4: |
Return on Assets is calculated based on Income before Income Taxes.
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(2) Performance Highlights - Financial Position (Unaudited)
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Total Assets |
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Total Equity |
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Shareholders Equity |
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Shareholders Equity Ratio |
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Shareholders Equity Per Share |
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March 31, 2024 |
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16,322,100 |
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4,021,965 |
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3,941,466 |
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24.1 |
% |
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3,422.94 |
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March 31, 2023 |
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15,289,385 |
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3,614,322 |
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3,543,607 |
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23.2 |
% |
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3,027.93 |
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*Note 5: |
Shareholders Equity refers to Total ORIX Corporation Shareholders
Equity. |
Shareholders Equity Ratio is the ratio of Total ORIX Corporation
Shareholders Equity to Total Assets.
Shareholders Equity Per Share is calculated
based on Total ORIX Corporation Shareholders Equity.
LDTI standard has been adopted since April 1, 2023, with the
transition date of April 1, 2021, on a modified retrospective approach.
(3) Performance Highlights - Cash Flows (Unaudited)
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Cash Flows from Operating Activities |
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Cash Flows from Investing Activities |
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Cash Flows from Financing Activities |
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Cash, Cash Equivalents and Restricted Cash at End of Year |
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March 31, 2024 |
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1,243,402 |
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(1,372,803 |
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(85,477 |
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1,185,307 |
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March 31, 2023 |
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913,088 |
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(1,098,478 |
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438,308 |
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1,366,908 |
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2. Dividends (Unaudited)
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First Quarter-end |
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Second Quarter-end |
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Third Quarter-end |
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Year-end |
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Total |
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Total Dividends Paid |
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Dividend Payout Ratio (Consolidated base) |
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Dividends on Equity (Consolidated base) |
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March 31, 2023 |
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42.80 |
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42.80 |
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85.60 |
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100,794 |
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34.8 |
% |
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3.0 |
% |
March 31, 2024 |
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42.80 |
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55.80 |
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98.60 |
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114,095 |
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33.0 |
% |
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3.1 |
% |
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March 31, 2025 (Est.) |
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49.30 |
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49.30 |
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98.60 |
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*Note 6: |
Total dividends paid include dividends paid to the Board Incentive Plan Trust (¥241 million for the
fiscal year ended March 31, 2023 and ¥272 million for the fiscal year ended March 31, 2024). For the next fiscal year ending March 31, 2025, the annual dividend is forecasted at the higher of either payout ratio of 39% or
98.60 yen per share. In the above table, the minimum dividend has been stated. |
3. Forecast for the Year Ending March 31, 2025
(Unaudited)
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Net Income Attributable to ORIX Corporation Shareholders |
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Year-on-Year Change |
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March 31, 2025 |
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390,000 |
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12.7 |
% |
*Note 7: |
Although forward-looking statements in this document are based on information currently available to ORIX
Corporation and are based on assumptions deemed reasonable by ORIX Corporation, actual financial results may differ materially due to various factors. Readers are urged not to place undue reliance on such forward-looking statements.
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Factors causing a result that differs from forward-looking statements include, but are not limited to, those described
under Risk Factors in our Form 20-F submitted to the U.S. Securities and Exchange Commission.
4.
Other Information
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(1) Changes in Significant Consolidated Subsidiaries |
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Yes ( ) No (x) |
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Addition - None ( ) |
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Exclusion - None ( ) |
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(2) Changes in Accounting Principles |
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1. Changes due to adoptions of new accounting standards |
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Yes (x) No ( ) |
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2. Other than those above |
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Yes ( ) No ( x ) |
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(3) Number of Issued Shares (Ordinary Shares)
1. The number of issued shares, including treasury stock, was 1,214,961,054 as of March 31, 2024, and 1,234,849,342 as of March 31,
2023.
2. The number of treasury stock was 60,748,162 as of March 31, 2024, and 61,742,607 as of March 31, 2023.
3. The average number of outstanding shares was 1,159,367,000 for the fiscal year ended March 31, 2024, and 1,180,356,466 for the fiscal
year ended March 31, 2023.
The Companys shares held through the Board Incentive Plan Trust (2,727,686 shares as of
March 31, 2024 and 2,800,866 shares as of March 31, 2023) are not included in the number of treasury stock as of the end of the periods, but are included in the average number of shares outstanding as treasury stock that are deducted from
the basis of the calculation of per share data.
* These consolidated financial results from April 1, 2023 to March 31, 2024 are
not subject to certified public accountants or audit firms audits.
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