ORIX (8591) investor relations material

Executive summary

• Net income for the nine months ended December 31, 2025, reached JPY 389.7 billion, up 43% year-over-year, achieving 89% of the full-year forecast and marking a record high for the period.

• Pre-tax profits rose to JPY 567.7 billion, an increase of 184.3 billion year-over-year, with all finance, operation, and investment segments contributing to growth.

• Total revenues for the nine months rose 12% year-over-year to JPY 2,408.9 billion, driven by investment securities gains, dividends, and higher life insurance premiums and service income.

• Share buyback program expanded to JPY 150 billion, with 85% completed by end of January 2026.

• Comprehensive income increased 132% year-over-year to JPY 771.8 billion.

Financial highlights

• Segment profits for the nine-month period increased 40% year-over-year to JPY 596.4 billion, with 7 of 10 segments showing profit growth.

• Capital gains from divestments totaled JPY 196.6 billion, including a JPY 95.0 billion gain from the Greenko sale.

• Total assets increased to JPY 18,125.6 billion, up JPY 1,259.4 billion from March 31, 2025, mainly due to the consolidation of Hilco Global and growth in insurance and banking assets.

• Shareholders' equity rose 12% to JPY 4,584.9 billion, with a ratio of 25.3%.

• Basic earnings per share rose to JPY 347.14 from JPY 237.46 year-over-year.

Outlook and guidance

• No change to the full-year net income forecast of JPY 440 billion, with management focused on sustainable growth, capital efficiency, and timely actions based on business plan and medium-term outlook.

• Progressed 89% toward the revised full-year net income target of JPY 440 billion.

• Management targets ROE of 11% by FY28.3 and 15% by FY35.3, with net income of JPY 1 trillion as a long-term goal.

• Annual dividend per share expected to be the higher of a 39% payout ratio or JPY 120.01, with a potential increase to JPY 153.67 if net income reaches JPY 440 billion.

• Cautious stance maintained for certain segments, especially Elawan and real estate, with ongoing project-by-project reviews.