Form 6-K

6-K 1 d111950d6k.htm FORM 6-K Form 6-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2026

Commission File Number: 001-14856

ORIX Corporation

(Translation of Registrant’s Name into English)

World Trade Center Bldg., SOUTH TOWER, 2-4-1 Hamamatsu-cho, Minato-ku, Tokyo, JAPAN

(Address of Principal Executive Offices)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F ☒ Form 40-F ☐

Table of Contents

Material Contained in this Report


1.		ORIX’s Consolidated Financial Results for the fiscal year ended March 31, 2026 (April 1, 2025 –March 31, 2026) filed with the Tokyo Stock Exchange on Monday, May 11, 2026.
2.		“Notice Regarding Repurchase of Own Shares”
3.		“Announcement Regarding Dividend for the Fiscal Year Ended March 31, 2026 and Annual Dividend Forecast for the Fiscal Year Ending March 31, 2027”
4.		Announcement Regarding Management Changes
5.		Announcement Regarding Candidates for Member of the Board of Directors and Member Composition of the Three Committees of ORIX Corporation
6.		Notice Concerning Partial Amendment to Articles of Incorporation

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


	ORIX Corporation

Date: May 11, 2026	By	/s/ Masataka Yamada
		Masataka Yamada
		Senior Managing Executive Officer Chief Financial Officer and Chief Strategy Officer Responsible for Corporate Strategy and Management Unit ORIX Corporation

Consolidated Financial Results

April 1, 2025 – March 31, 2026

May 11, 2026

In preparing its consolidated financial information, ORIX Corporation (the “Company”) and its subsidiaries have complied with generally accepted accounting principles in the United States of America.

This document may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on the Company’s current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under “Risk Factors” in the Company’s most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission.

The Company believes that it may have been a “passive foreign investment company” for U.S. federal income tax purposes in the year to which these consolidated financial results relate by reason of the composition of its assets and the nature of its income. In addition, the Company may be a PFIC for the foreseeable future. Assuming that the Company is a PFIC, a U.S. holder of the shares or American depositary shares of the Company will be subject to special rules generally intended to eliminate any benefits from the deferral of U.S. federal income tax that a holder could derive from investing in a foreign corporation that does not distribute all of its earnings on a current basis. Investors should consult their tax advisors with respect to such rules, which are summarized in the Company’s annual report.

For further information please contact:

Investor Relations Department

ORIX Corporation

World Trade Center Bldg., SOUTH TOWER, 2-4-1 Hamamatsu-cho, Minato-Ku, Tokyo, 105-5135

JAPAN

Tel: +81-3-3435-3121 Fax: +81-3-3435-3154

E-mail: orix_corpcomm@orix.jp

Consolidated Financial Results from April 1, 2025 to March 31, 2026

(U.S. GAAP Financial Information for ORIX Corporation and its Subsidiaries)


Corporate Name:		ORIX Corporation
Listed Exchanges:		Tokyo Stock Exchange (Securities No. 8591)
		New York Stock Exchange (Trading Symbol: IX)
Head Office:		Tokyo JAPAN
		Tel: +81-3-3435-3121
		(URL https://www.orix.co.jp/grp/en/ir/)

1. Performance Highlights as of and for the Year Ended March 31, 2026

(1) Performance Highlights - Operating Results (Unaudited)

(millions of yen)


	Total Revenues		Year-on-Year Change			Operating Income		Year-on-Year Change			Income before Income Taxes		Year-on-Year Change			Net Income Attributable to ORIX Corporation Shareholders		Year-on-Year Change
March 31, 2026		3,330,831		15.9	%		456,248		37.5	%		691,431		43.9	%		447,265		27.2	%
March 31, 2025		2,874,821		2.1	%		331,826		(8.0	%)		480,463		2.2	%		351,630		1.6	%

“Comprehensive Income Attributable to ORIX Corporation Shareholders” was ¥711,049 million for the fiscal year ended March 31, 2026 (year-on-year change was a 111.8% increase) and ¥335,644 million for the fiscal year ended March 31, 2025 (year-on-year change was a 38.7% decrease).


	Basic Earnings Per Share		Diluted Earnings Per Share		Return on Equity			Return on *Assets2**			Operating Margin
March 31, 2026		400.27		399.40		10.4	%		4.0	%		13.7	%
March 31, 2025		307.74		307.16		8.8	%		2.9	%		11.5	%

“Equity in Net Income of Equity method investments” was a net gain of ¥123,872 million for the fiscal year ended March 31, 2026 and a net gain of ¥57,182 million for the fiscal year ended March 31, 2025.

*Note 1:

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 2:

“Return on Assets” is calculated based on “Income before Income Taxes.”

(2) Performance Highlights - Financial Position (Unaudited)


	Total Assets		Total Equity		Shareholders’ Equity		Shareholders’ Equity Ratio			Shareholders’ Equity Per Share
March 31, 2026		18,002,776		4,573,068		4,482,500		24.9	%		4,080.24
March 31, 2025		16,866,251		4,171,783		4,089,782		24.2	%		3,599.24

*Note 3:

“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 using “Total ORIX Corporation Shareholders’ Equity.”

(3) Performance Highlights - Cash Flows (Unaudited)


	Cash Flows from Operating Activities		Cash Flows used in Investing Activities			Cash Flows from (used in) Financing Activities			Cash, Cash Equivalents and Restricted Cash at End of Year
March 31, 2026		1,369,567		(1,114,671	)		(160,535	)		1,451,099
March 31, 2025		1,300,193		(1,309,695	)		149,322			1,321,983

2. Dividends (Unaudited)


	First Quarter-end		Second Quarter-end		Third Quarter-end		Year-end		Total		Total Dividends Paid		Dividend Payout Ratio (Consolidated base)			Dividends on Equity (Consolidated base)
March 31, 2025		—		62.17		—		57.84		120.01		137,104		39.0	%		3.4	%
March 31, 2026		—		93.76		—		62.34		156.10		173,558		39.0	%		4.1	%

March 31, 2027 (Est.)		—		—		—		—		187.36				—

*Note 4:

Total dividends paid include dividends paid to the Board Incentive Plan Trust (¥417 million for the fiscal year ended March 31, 2025 and ¥506 million for the fiscal year ended March 31, 2026). Regarding the dividend forecast for the fiscal year ending March 31, 2027, the annual dividend is expected to be the higher of an amount equivalent to a dividend payout ratio of 39% and an annual dividend of ¥156.10 per share. The table above presents the forecast of annual dividends per share assuming that profit attributable to owners of the parent for the fiscal year ending March 31, 2027 is ¥530,000 million, as set forth in the consolidated financial forecast for the same fiscal year described below. Dividends per share is calculated based on the number of issued shares excluding treasury shares and may fluctuate due to changes in the number of treasury shares resulting from share repurchases.

3. Forecast for the Year Ending March 31, 2027 (Unaudited)


	Net Income Attributable to ORIX Corporation Shareholders		Year-on-Year Change
March 31, 2027		530,000		18.5	%

*Note 5:

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. 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.

We indirectly hold a partial equity interest in Toshiba Corporation (Head office: Kawasaki City, Kanagawa; President and CEO: Taro Shimada; “Toshiba”) through TB Investment Limited Partnership (the “Partnership”), an equity-method affiliate of ours. Toshiba’s profit and loss is reflected in our consolidated financial results through the Partnership with a one-quarter lag. According to publicly disclosed information, by the end of March 2026, Toshiba sold a portion of its shares held in Kioxia Holdings Corporation (Head office: Minato-ku, Tokyo; President and CEO: Hiroo Ota; “Kioxia”). However, as of the date hereof, we have not been able to confirm information regarding Toshiba’s or the Partnership’s profit and loss for the fourth quarter of the fiscal year ended March 31, 2026. Accordingly, the impact of the sale on our consolidated financial results for the first quarter of the fiscal year ending March 31, 2027 through the Partnership remains uncertain at this time and has therefore not been reflected in the current earnings forecast. Likewise, the impact on our consolidated full-year earnings forecast for the fiscal year ending March 31, 2027 may vary depending on the financial results of the Partnership and other factors, and accordingly, has not been reflected due to our inability to confirm information at this time.

4. Other Information


(1) Significant Changes in Scope of Consolidation			Yes ( ) No (x)

Addition - None ( )			Exclusion - None ( )

(2) Changes in Accounting Principles

1. Changes due to adoptions of new accounting standards			Yes ( ) No (x)

2. Other than those above			Yes ( ) No (x)

- 1 -

(3) Number of Issued Shares (Ordinary Shares)

1. The number of issued shares, including treasury stock, was 1,124,106,624 as of March 31, 2026, and 1,162,962,244 as of March 31, 2025.

2. The number of treasury stock was 22,484,702 as of March 31, 2026, and 23,259,695 as of March 31, 2025.

3. The average number of outstanding shares was 1,117,160,283 for the fiscal year ended March 31, 2026, and 1,142,502,976 for the fiscal year ended March 31, 2025.

The Company’s shares held through the Board Incentive Plan Trust (3,035,102 shares as of March 31, 2026 and 3,413,000 shares as of March 31, 2025) 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, 2025 to March 31, 2026 are not subject to certified public accountant’s or audit firm’s audits.

- 2 -

1. Summary of Consolidated Financial Results

(1) Summary of Financial Highlights

Financial Results for the Fiscal Year Ended March 31, 2026


		Fiscal Year ended March 31, 2025		Fiscal Year ended March 31, 2026		Change
		Fiscal Year ended March 31, 2025		Fiscal Year ended March 31, 2026		Amount		Percent (%)
Total Revenues	(millions of yen)		2,874,821		3,330,831		456,010		16
Total Expenses	(millions of yen)		2,542,995		2,874,583		331,588		13
Income before Income Taxes	(millions of yen)		480,463		691,431		210,968		44
Net Income Attributable to ORIX Corporation Shareholders	(millions of yen)		351,630		447,265		95,635		27
Earnings Per Share (Basic)	(yen)		307.74		400.27		92.53		30
(Diluted)	(yen)		307.16		399.40		92.24		30
ROE*1	(%)		8.8		10.4		1.6		—
ROA*2	(%)		2.12		2.57		0.45		—

*1	ROE is the ratio of Net Income Attributable to ORIX Corporation Shareholders for the period to average ORIX Corporation Shareholders’ Equity.

*2	ROA is calculated based on Net Income Attributable to ORIX Corporation Shareholders.

Overview of Business Performance (April 1, 2025 to March 31, 2026)

Total revenues for the consolidated fiscal year ended March 31, 2026 (hereinafter, “the fiscal year”) increased 16% to ¥3,330,831 million compared to the previous fiscal year primarily due to increases in gains on investment securities and dividends, including the recognition of valuation gains on fund investments at our U.S. subsidiary and a gain related to the transfer of shares of Greenko Energy Holdings, as well as increases in life insurance premiums and related investment income, and service income.

Total expenses increased 13% to ¥2,874,583 million compared to the previous fiscal year primarily due to increases in life insurance costs and selling, general and administrative expenses.

Equity in net income of equity method investments for the fiscal year increased 117% to ¥123,872 million compared to the previous fiscal year, and gains on sales of subsidiaries and equity method investments and liquidation losses, net for the fiscal year increased 27% to ¥111,311 million compared to the previous fiscal year, primarily due to the recognition of a gain of ¥83,135 million from the transfer of shares of Greenko Energy Holdings.

Due to the above results, income before income taxes for the fiscal year increased 44% to ¥691,431 million compared to the previous fiscal year and net income attributable to ORIX Corporation Shareholders increased 27% to ¥447,265 million compared to the previous fiscal year.

- 3 -

Segment Information

Total segment profits for the fiscal year increased 35% to ¥732,597 million compared to the previous fiscal year. Segment profits increased in each of Corporate Financial Services and Maintenance Leasing, Real Estate, PE Investment and Concession, Environment and Energy, Insurance, ORIX Europe, and Asia and Australia while segment profits in each of Banking and Credit, Aircraft and Ships, and ORIX USA decreased, in each case as compared to the previous fiscal year.

Segment information for the fiscal year is as follows:

Corporate Financial Services and Maintenance Leasing: Finance and fee business; leasing and rental of automobiles, electronic measuring instruments, and ICT-related equipment

Year ended
March 31, 2025
(millions of yen)

Year ended
March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Profits

90,329

100,740

10,411

As of March 31, 2025
(millions of yen)

As of March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Assets

1,884,565

1,876,895

(7,670

)

(0)

Segment profits increased 12% to ¥100,740 million compared to the previous fiscal year primarily due to increases in operating leases revenues and equity in net income of equity method investments.

Segment assets totaled ¥1,876,895 million, remaining relatively unchanged compared to the end of the previous fiscal year primarily due to decreases in installment loans and loans to ORIX and its subsidiaries, partially offset by an increase in investment in operating leases.

Real Estate: Real estate development, rental and management; facility operations; real estate asset management

Year ended
March 31, 2025
(millions of yen)

Year ended
March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Profits

70,541

78,509

7,968

As of March 31, 2025
(millions of yen)

As of March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Assets

1,158,293

1,235,906

77,613

Segment profits increased 11% to ¥78,509 million compared to the previous fiscal year primarily due to increases in services income and equity in net income of equity method investments, partially offset by a decrease in operating leases revenues.

Segment assets increased 7% to ¥1,235,906 million compared to the end of the previous fiscal year primarily due to increases in investment in operating leases, inventories, and equity method investments, partially offset by decreases in property under facility operations.

- 4 -

PE Investment and Concession: Private equity investment and concession

Year ended
March 31, 2025
(millions of yen)

Year ended
March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Profits

98,872

125,611

26,739

As of March 31, 2025
(millions of yen)

As of March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Assets

1,022,944

1,050,561

27,617

Segment profits increased 27% to ¥125,611 million compared to the previous fiscal year primarily due to an increase in equity in net income of equity method investments, sales of goods and real estate, and services income, partially offset by a decrease in gains on sales of subsidiaries and equity method investments.

Segment assets increased 3% to ¥1,050,561 million compared to the end of the previous fiscal year primarily due to increases in equity method investments, goodwill, intangible assets acquired in business combinations, and property under facility operations, partially offset by a decrease in installment loans.

Environment and Energy: Domestic and overseas renewable energy; electric power retailing; ESCO services; sales of solar panels; recycling and waste management

Year ended
March 31, 2025
(millions of yen)

Year ended
March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Profits

(4,923

)

115,772

120,695

—

As of March 31, 2025
(millions of yen)

As of March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Assets

1,016,175

1,018,777

2,602

Segment profits increased by ¥120,695 million to ¥115,772 million compared to the previous fiscal year primarily due to increases in gains on sales of subsidiaries and equity method investments and gains on investment securities and dividends, and a decrease in write-downs of long-lived assets.

Segment assets totaled ¥1,018,777 million, remaining relatively unchanged compared to the end of the previous fiscal year primarily due to increases in investment in securities and advances for property under facility operations, partially offset by a decrease in equity method investments.

- 5 -

Insurance: Life insurance

Year ended
March 31, 2025
(millions of yen)

Year ended
March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Profits

74,399

102,891

28,492

As of March 31, 2025
(millions of yen)

As of March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Assets

3,009,234

3,198,270

189,036

Segment profits increased 38% to ¥102,891 million compared to the previous fiscal year primarily due to an increase in life insurance premiums and related investment income.

Segment assets increased 6% to ¥3,198,270 million compared to the end of the previous fiscal year primarily due to increases in reinsurance recoverables and investment in securities, partially offset by a decrease in cash and cash equivalents.

Banking and Credit: Banking and consumer finance

Year ended
March 31, 2025
(millions of yen)

Year ended
March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Profits

29,291

27,212

(2,079

)

As of March 31, 2025
(millions of yen)

As of March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Assets

3,144,571

3,236,799

92,228

Segment profits decreased 7% to ¥27,212 million compared to the previous fiscal year primarily due to a decrease in gains on investment securities and dividends.

Segment assets increased 3% to ¥3,236,799 million compared to the end of the previous fiscal year primarily due to increases in installment loans and cash and cash equivalents, partially offset by a decrease in investment in securities.

- 6 -

Aircraft and Ships: Aircraft investment and management; ship-related finance and investment, maritime asset management and ship brokerage


	Year ended March 31, 2025 (millions of yen)		Year ended March 31, 2026 (millions of yen)		Change
	Year ended March 31, 2025 (millions of yen)		Year ended March 31, 2026 (millions of yen)		Amount (millions of yen)			Percent (%)
Segment Profits		67,420		66,608		(812	)		(1	)

	As of March 31, 2025 (millions of yen)		As of March 31, 2026 (millions of yen)		Change
	As of March 31, 2025 (millions of yen)		As of March 31, 2026 (millions of yen)		Amount (millions of yen)			Percent (%)
Segment Assets		1,231,973		1,211,335		(20,638	)		(2	)

Segment profits decreased 1% to ¥66,608 million compared to the previous fiscal year primarily due to an increase in selling, general and administrative expenses, and a decrease in equity in net income of equity method investments, partially offset by an increase in services income.

Segment assets decreased 2% to ¥1,211,335 million compared to the end of the previous fiscal year primarily due to decreases in investment in operating leases and installment loans, and cash and cash equivalents, partially offset by an increase in goodwill, intangible assets acquired in business combinations.

ORIX USA: Finance, investment and asset management in the Americas

Year ended
March 31, 2025
(millions of yen)

Year ended
March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Profits

39,915

954

(38,961

)

(98

)

As of March 31, 2025
(millions of yen)

As of March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Assets

1,593,939

1,940,471

346,532

Segment profits decreased 98% to ¥954 million compared to the previous fiscal year primarily due to increases in impairment of goodwill and intangible assets and selling, general and administrative expenses, a decrease in gains on sales of subsidiaries and equity method investments, and an increase in provision for credit losses, partially offset by an increase in gains on investment securities and dividends.

Segment assets increased 22% to ¥1,940,471 million compared to the end of the previous fiscal year due to an increase in goodwill, intangible assets acquired in business combinations as a result of a new acquisition of a subsidiary in the second quarter of fiscal 2026, and increases in installment loans and trade notes, accounts and other receivables.

- 7 -

ORIX Europe: Asset management of global equity and fixed income

Year ended
March 31, 2025
(millions of yen)

Year ended
March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Profits

44,373

63,051

18,678

As of March 31, 2025
(millions of yen)

As of March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Assets

669,306

801,175

131,869

Segment profits increased 42% to ¥63,051 million compared to the previous fiscal year primarily due to increases in gains on sales of subsidiaries and equity method investments, and services income.

Segment assets increased 20% to ¥801,175 million compared to the end of the previous fiscal year primarily due to a general increase as a result of foreign exchange effects.

Asia and Australia: Finance and investment businesses in Asia and Australia

Year ended
March 31, 2025
(millions of yen)

Year ended
March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Profits

34,451

51,249

16,798

As of March 31, 2025
(millions of yen)

As of March 31, 2026
(millions of yen)

Change

Amount
(millions of yen)

Percent
(%)

Segment Assets

1,725,627

1,865,277

139,650

Segment profits increased 49% to ¥51,249 million compared to the previous fiscal year primarily due to increases in equity in net income of equity method investments, and gains on sales of subsidiaries and equity method investments.

Segment assets increased 8% to ¥1,865,277 million compared to the end of the previous fiscal year primarily due to a general increase as a result of foreign exchange effects.

Outlook and Forecast

In addition to the continued growth of our established businesses, we expect profit growth driven by the ongoing optimization of our business portfolio, and we will continue to pursue sustainable profit growth.

Effective April 1, 2026, we changed our operating segments used by our chief operating decision maker for allocating resources and assessing performance. Accordingly, segment information based on the new operating segment structure will be disclosed beginning in the first quarter of the fiscal year ending March 31, 2027.

Factors that could cause results that differ materially from those described in the 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.

- 8 -

(2) Summary of Consolidated Financial Condition

Summary of Assets, Liabilities, Shareholders’ Equity


		As of March 31, 2025		As of March 31, 2026		Change
		As of March 31, 2025		As of March 31, 2026		Amount		Percent (%)
Total Assets	(millions of yen)		16,866,251		18,002,776		1,136,525		7
(Segment Assets)			16,456,627		17,435,466		978,839		6
Total Liabilities	(millions of yen)		12,691,036		13,378,965		687,929		5
(Short-term and Long-term Debt)			6,282,798		6,537,994		255,196		4
(Deposits)			2,449,812		2,625,556		175,744		7
Shareholders’ Equity *1	(millions of yen)		4,089,782		4,482,500		392,718		10
Shareholders’ Equity Per Share *2	(yen)		3,599.24		4,080.24		481.00		13

*1 Shareholders’ Equity refers to ORIX Corporation Shareholders’ Equity based on U.S. GAAP.

*2 Shareholders’ Equity Per Share is calculated using total ORIX Corporation Shareholders’ Equity.

Total assets increased 7% to ¥18,002,776 million compared to the end of the previous fiscal year primarily due to increases in investment in operating leases, cash and cash equivalents, installment loans and other assets (mainly reinsurance recoverables and goodwill). In addition, segment assets increased 6% to ¥17,435,466 million compared to the end of the previous fiscal year.

Total liabilities increased 5% to ¥13,378,965 million compared to the end of the previous fiscal year primarily due to increases in long-term debt and deposits.

Shareholders’ equity increased 10% to ¥4,482,500 million compared to the end of the previous fiscal year.

Summary of Cash Flows

Cash, cash equivalents and restricted cash increased by ¥129,116 million to ¥1,451,099 million compared to the end of the previous fiscal year.

Cash flows provided by operating activities were ¥1,369,567 million during the fiscal year, up from ¥1,300,193 million during the previous fiscal year. This change resulted primarily from an increase in net income and an increase in policy liabilities and policy account balances, excluding the impact of changes in policy liability discount rate.

Cash flows used in investing activities were ¥1,114,671 million during the fiscal year, down from ¥1,309,695 million during the previous fiscal year. This change resulted primarily from an increase in principal collected on installment loans and a decrease in purchases of available-for-sale debt securities.

Cash flows used in financing activities were ¥160,535 million during the fiscal year compared to the inflow of ¥149,322 million during the previous fiscal year. This change was primarily due to repayments of debt with maturities longer than three months exceeding the amounts of proceeds and a change from an increase to a decrease in call money, partially offset by a change from a decrease to an increase in debt with maturities of three months or less.

- 9 -

(3) Profit Distribution Policy and Dividends for the Fiscal Year Ended March 31, 2026 and the Fiscal Year Ending March 31, 2027

We aim to increase shareholder value by utilizing profits earned from business activities, to strengthen our business foundation and make investments for future growth. At the same time, we strive to make stable and sustainable distribution of dividends at a level in line with our business performance. In addition, with regards to the decision of whether to buy back our shares, we aim to act with flexibility and swiftness while considering various factors such as the business environment, share price trends, the soundness of our financial condition, and target performance indicators.

Based on this fundamental policy, the annual dividend for the fiscal year ended March 31, 2026 has been decided at 156.10 yen per share (the interim dividend paid was 93.76 yen per share and the year-end dividend has been decided at 62.34 yen per share). The payout ratio for the fiscal year ended March 31, 2026 was 39.0%. For the next fiscal year ending March 31, 2027, the annual dividend is forecasted at the higher of either payout ratio of 39.0% or 156.10 yen per share.

(4) Risk Factors

With the announcement of our results for the fiscal year ended March 31, 2026, we believe no significant changes have arisen concerning “Risk Factors” as stated in our latest Form 20-F submitted to the U.S. Securities and Exchange Commission on June 24, 2025.

2. Consideration in the Selection of Accounting Standard

We have been preparing our financial statements in accordance with U.S. GAAP. We believe that U.S. GAAP is the accounting standard that most appropriately reflects our business activities in our financial reporting.

Reporting in U.S. GAAP enables us to maintain consistency and comparability with past financial results and we believe that is beneficial to our stakeholders.

- 10 -

3. Financial Information

(1) Condensed Consolidated Balance Sheets (Unaudited)

(millions of yen)



Assets		As of March 31, 2025			As of March 31, 2026
Cash and Cash Equivalents			1,206,573			1,334,945
Restricted Cash			115,410			116,154
Net Investment in Leases			1,167,380			1,247,491
Installment Loans			4,081,019			4,173,582
The amounts which are measured at fair value by electing the fair value option are as follows:
March 31, 2025	¥97,694 million
March 31, 2026	¥78,020 million
Allowance for Credit Losses			(56,769	)		(80,194	)
Investment in Operating Leases			1,967,178			2,152,820
Investment in Securities			3,234,547			3,308,829
The amounts which are measured at fair value by electing the fair value option are as follows:
March 31, 2025	¥41,018 million
March 31, 2026	¥39,796 million
The amounts which are associated to available-for-sale debt securities are as follows:
March 31, 2025
Amortized Cost	¥3,174,036 million
Allowance for Credit Losses	¥(670) million
March 31, 2026
Amortized Cost	¥3,403,138 million
Allowance for Credit Losses	¥(3,505) million
Property under Facility Operations			771,851			779,075
Equity method investments			1,320,015			1,306,312
Trade Notes, Accounts and Other Receivable			411,012			495,905
Inventories			229,229			269,187
Office Facilities			191,957			203,169
Other Assets			2,226,849			2,695,501
The amounts which are measured at fair value by electing the fair value option are as follows:
March 31, 2025	¥2,586 million
March 31, 2026	¥1,163 million

Total Assets			16,866,251			18,002,776


Liabilities and Equity
Short-term Debt			549,680			572,235
Deposits			2,449,812			2,625,556
Trade Notes, Accounts and Other Payable			339,787			356,008
Policy Liabilities and Policy Account Balances			1,948,047			1,943,710
The amounts which are measured at fair value by electing the fair value option are as follows:
March 31, 2025	¥136,257 million
March 31, 2026	¥138,027 million
Current and Deferred Income Taxes			578,781			687,784
Long-term Debt			5,733,118			5,965,759
Other Liabilities			1,091,811			1,227,913

Total Liabilities			12,691,036			13,378,965


Redeemable Noncontrolling Interests			3,432			50,743


Commitments and Contingent Liabilities

Common Stock			221,111			221,111

Additional Paid-in Capital			234,193			235,239

Retained Earnings			3,354,911			3,502,509

Accumulated Other Comprehensive Income			341,298			605,110

Treasury Stock, at Cost			(61,731	)		(81,469	)

Total ORIX Corporation Shareholders’ Equity			4,089,782			4,482,500
Noncontrolling Interests			82,001			90,568

Total Equity			4,171,783			4,573,068


Total Liabilities and Equity			16,866,251			18,002,776

- 11 -

Note:

Breakdown of Accumulated Other Comprehensive Income (Loss)


	As of March 31, 2025			As of March 31, 2026
Accumulated Other Comprehensive Income (Loss)
Net unrealized gains (losses) on investment in securities		(403,914	)		(618,351	)
Impact of changes in policy liability discount rate		416,124			715,382
Debt valuation adjustments		49			242
Defined benefit pension plans		14,791			31,953
Foreign currency translation adjustments		304,657			469,262
Net unrealized gains on derivative instruments		9,591			6,622

Total		341,298			605,110

- 12 -

(2) Condensed Consolidated Statements of Income (Unaudited)

(millions of yen)



	Year ended March 31, 2025			Year ended March 31, 2026
Revenues :
Finance revenues		328,356			365,570
Gains on investment securities and dividends		14,324			128,948
Operating leases		624,444			641,185
Life insurance premiums and related investment income		515,259			640,159
Sales of goods and real estate		373,155			442,586
Services income		1,019,283			1,112,383

Total Revenues		2,874,821			3,330,831

Expenses :
Interest expense		169,051			193,889
Costs of operating leases		394,821			411,939
Life insurance costs		384,753			479,937
Costs of goods and real estate sold		271,833			331,988
Services expense		604,145			634,329
Other (income) and expense		27,128			58,803
Selling, general and administrative expenses		646,054			711,775
Provision for credit losses		18,723			34,017
Write-downs of long-lived assets		25,933			16,242
Write-downs of securities		554			1,664

Total Expenses		2,542,995			2,874,583

Operating Income		331,826			456,248

Equity in Net Income of Equity method investments		57,182			123,872
Gains on Sales of Subsidiaries and Equity method investments and Liquidation Losses, net		87,705			111,311
Bargain Purchase Gain		3,750			0

Income before Income Taxes		480,463			691,431
Provision for Income Taxes		128,828			233,103

Net Income		351,635			458,328

Net Income (Loss) Attributable to the Noncontrolling Interests		(389	)		11,821

Net Income (Loss) Attributable to the Redeemable Noncontrolling Interests		394			(758	)

Net Income Attributable to ORIX Corporation Shareholders		351,630			447,265

- 13 -

(3) Condensed Consolidated Statements of Comprehensive Income (Unaudited)


				(millions of yen)

	Year Ended March 31, 2025			Year Ended March 31, 2026
Net Income :		351,635			458,328

Other comprehensive income (loss), net of tax:
Net change of unrealized gains (losses) on investment in securities		(153,108	)		(214,449	)
Impact of changes in policy liability discount rate		158,339			299,258
Net change of debt valuation adjustments		(35	)		193
Net change of defined benefit pension plans		5,128			17,167
Net change of foreign currency translation adjustments		(20,060	)		171,936
Net change of unrealized gains (losses) on derivative instruments		(6,403	)		(2,840	)
Total other comprehensive income (loss)		(16,139	)		271,265

Comprehensive Income		335,496			729,593

Comprehensive Income (Loss) Attributable to the Noncontrolling Interests		(492	)		15,771

Comprehensive Income Attributable to the Redeemable Noncontrolling Interests		344			2,773

Comprehensive Income Attributable to ORIX Corporation Shareholders		335,644			711,049

- 14 -

(4) Condensed Consolidated Statements of Changes in Equity (Unaudited)


	(millions of yen)
	ORIX Corporation Shareholders’ Equity
	Common Stock		Additional Paid-in Capital			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Total ORIX Corporation Shareholders’ Equity			Noncontrolling Interests			Total Equity
Balance at March 31, 2024		221,111		233,457			3,259,730			357,148			(129,980	)		3,941,466			80,499			4,021,965

Cumulative effect of adopting Accounting Standards Update 2023-02							(157	)								(157	)		0			(157	)

Balance at April 1, 2024		221,111		233,457			3,259,573			357,148			(129,980	)		3,941,309			80,499			4,021,808

Contribution to subsidiaries																0			10,736			10,736
Transaction with noncontrolling interests				83						136						219			(7,451	)		(7,232	)
Comprehensive income (loss), net of tax:
Net income (loss)							351,630									351,630			(389	)		351,241
Other comprehensive income (loss)
Net change of unrealized gains (losses) on investment in securities										(153,108	)					(153,108	)		0			(153,108	)
Impact of changes in policy liability discount rate										158,339						158,339			0			158,339
Net change of debt valuation adjustments										(35	)					(35	)		0			(35	)
Net change of defined benefit pension plans										5,121						5,121			7			5,128
Net change of foreign currency translation adjustments										(19,687	)					(19,687	)		(323	)		(20,010	)
Net change of unrealized gains (losses) on derivative instruments										(6,616	)					(6,616	)		213			(6,403	)

Total other comprehensive income (loss)																(15,986	)		(103	)		(16,089	)

Total comprehensive income (loss)																335,644			(492	)		335,152

Cash dividends							(135,590	)								(135,590	)		(1,291	)		(136,881	)
Acquisition of treasury stock													(53,518	)		(53,518	)		0			(53,518	)
Disposal of treasury stock				(654	)								917			263			0			263
Cancellation of treasury stock				(149	)		(120,702	)					120,851			0			0			0
Other, net				1,456									(1	)		1,455			0			1,455

Balance at March 31, 2025		221,111		234,193			3,354,911			341,298			(61,731	)		4,089,782			82,001			4,171,783

Contribution to subsidiaries																0			14,457			14,457
Transaction with noncontrolling interests				344						28						372			(13,291	)		(12,919	)
Comprehensive income, net of tax:
Net income							447,265									447,265			11,821			459,086
Other comprehensive income (loss)
Net change of unrealized gains (losses) on investment in securities										(214,437	)					(214,437	)		0			(214,437	)
Impact of changes in policy liability discount rate										299,258						299,258			0			299,258
Net change of debt valuation adjustments										193						193			0			193
Net change of defined benefit pension plans										17,162						17,162			5			17,167
Net change of foreign currency translation adjustments										164,577						164,577			3,816			168,393
Net change of unrealized gains (losses) on derivative instruments										(2,969	)					(2,969	)		129			(2,840	)

Total other comprehensive income																263,784			3,950			267,734

Total comprehensive income																711,049			15,771			726,820

Cash dividends							(170,803	)								(170,803	)		(8,370	)		(179,173	)
Acquisition of treasury stock													(150,002	)		(150,002	)		0			(150,002	)
Disposal of treasury stock				(906	)								1,264			358			0			358
Cancellation of treasury stock				(137	)		(128,864	)					129,001			0			0			0
Other, net				1,745									(1	)		1,744			0			1,744

Balance at March 31, 2026		221,111		235,239			3,502,509			605,110			(81,469	)		4,482,500			90,568			4,573,068

Note:

Changes in the redeemable noncontrolling interests are not included in the table.

- 15 -

(5) Condensed Consolidated Statements of Cash Flows (Unaudited)


	(millions of yen)
	Year ended March 31, 2025			Year ended March 31, 2026
Cash Flows from Operating Activities:
Net income		351,635			458,328
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		399,527			404,791
Principal payments received under net investment in leases		495,717			505,410
Provision for credit losses		18,723			34,017
Equity in net income of equity method investments		(57,182	)		(123,872	)
Gains on sales of subsidiaries and equity method investments and liquidation losses, net		(87,705	)		(111,311	)
Bargain purchase gain		(3,750	)		0
(Gains) Losses on sales of securities other than trading		6,772			(679	)
Gains on sales of operating lease assets		(76,633	)		(70,115	)
Write-downs of long-lived assets		25,933			16,242
Write-downs of securities		554			1,664
Deferred tax provision		23,346			90,387
(Increase) Decrease in trading securities		28,487			(6,564	)
Increase in inventories		(9,839	)		(39,823	)
Decrease (Increase) in trade notes, accounts and other receivable		(2,641	)		4,556
Increase (Decrease) in trade notes, accounts and other payable		(3,910	)		1,065
Increase in policy liabilities and policy account balances		268,258			395,623
Increase (Decrease) in income taxes payable		(9,232	)		25,872
Other, net		(67,867	)		(216,024	)

Net cash provided by operating activities		1,300,193			1,369,567

Cash Flows from Investing Activities:
Purchases of lease equipment		(1,288,608	)		(1,257,360	)
Originations of installment loans		(1,506,006	)		(1,639,829	)
Principal collected on installment loans		1,302,302			1,498,876
Proceeds from sales of operating lease assets		373,804			352,491
Investments in equity method investees, net		(64,985	)		(30,922	)
Proceeds from sales of equity method investments		95,789			131,813
Purchases of available-for-sale debt securities		(700,403	)		(539,889	)
Proceeds from sales of available-for-sale debt securities		289,170			341,633
Proceeds from redemption of available-for-sale debt securities		257,338			161,241
Purchases of equity securities other than trading		(76,767	)		(98,026	)
Proceeds from sales of equity securities other than trading		31,594			141,753
Purchases of property under facility operations		(69,064	)		(75,075	)
Acquisitions of subsidiaries, net of cash acquired		(89,871	)		(129,036	)
Sales of subsidiaries, net of cash disposed		111,043			39,696
Other, net		24,969			(12,037	)

Net cash used in investing activities		(1,309,695	)		(1,114,671	)

Cash Flows from Financing Activities:
Net increase (decrease) in debt with maturities of three months or less		(98,621	)		55,427
Proceeds from debt with maturities longer than three months		1,549,750			1,210,761
Repayment of debt with maturities longer than three months		(1,368,479	)		(1,217,574	)
Net increase in deposits due to customers		204,034			175,554
Cash dividends paid to ORIX Corporation Shareholders		(135,590	)		(170,803	)
Acquisition of treasury stock		(53,518	)		(150,002	)
Contribution from noncontrolling interests		3,577			1,350
Purchases of shares of subsidiaries from noncontrolling interests		(521	)		(585	)
Net increase (decrease) in call money		50,000			(55,000	)
Other, net		(1,310	)		(9,663	)

Net cash (used in) provided by financing activities		149,322			(160,535	)

Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash		(3,144	)		34,755

Net increase in Cash, Cash Equivalents and Restricted Cash		136,676			129,116

Cash, Cash Equivalents and Restricted Cash at Beginning of Year		1,185,307			1,321,983

Cash, Cash Equivalents and Restricted Cash at End of Year		1,321,983			1,451,099

- 16 -

(6) Assumptions for Going Concern

There is no corresponding item.

(7) Segment Information (Unaudited)

The Group CEO, as the Chief Operating Decision Maker (“CODM”), regularly allocates management resources and assesses segment performance by using the amount equivalent to income before income taxes attributable to ORIX Corporation Shareholders of each business segment.

An overview of the operations for each of the ten operating segments follows below.


Corporate Financial Services and Maintenance Leasing	:	Finance and fee business; leasing and rental of automobiles, electronic measuring instruments, and ICT-related equipment
Real Estate	:	Real estate development, rental and management; facility operations; real estate asset management
PE Investment and Concession	:	Private equity investment and concession
Environment and Energy	:	Domestic and overseas renewable energy; electric power retailing; ESCO services; sales of solar panels; recycling and waste management
Insurance	:	Life insurance
Banking and Credit	:	Banking and consumer finance
Aircraft and Ships	:	Aircraft investment and management; ship-related finance and investment, maritime asset management and ship brokerage
ORIX USA	:	Finance, investment and asset management in the Americas
ORIX Europe	:	Asset management of global equity and fixed income
Asia and Australia	:	Finance and investment businesses in Asia and Australia

The accounting policies of the segments are almost the same as accounting policies for condensed consolidated financial statements except for the treatment of income tax expenses, net income attributable to noncontrolling interests, and net income attributable to redeemable noncontrolling interests. The chief operating decision maker evaluates segment performance based on the amount equivalent to income before income taxes attributable to ORIX Corporation Shareholders. Therefore, net income attributable to noncontrolling interests, net income attributable to redeemable noncontrolling interests, and income tax expenses are not included in segment profit or loss. Most of selling, general and administrative expenses, including compensation costs that are directly related to the revenue generating activities of each segment and excluding the expenses that should be borne by ORIX Group as a whole, have been accumulated by and charged to each segment. Gains and losses that management does not consider for evaluating the performance of the segments, such as certain interest expenses and certain foreign exchange gains or losses (included in other (income) and expense) are excluded from the segment profits or losses, and are regarded as corporate items.

Assets attributed to each segment are total assets except for certain cash and head office assets.

- 17 -

Segment information for fiscal 2025 and 2026 is as follows:


	Millions of yen
	Fiscal Year ended March 31, 2025
	Corporate Financial Services and Maintenance Leasing			Real Estate			PE Investment and Concession			Environment and Energy			Insurance			Banking and Credit			Aircraft and Ships
Finance revenues		63,271			4,860			12,140			1,402			280			60,290			5,769
Gains on investment securities and dividends		2,647			1,282			851			3,128			0			100			(24	)
Operating leases		282,433			61,321			42,698			79			0			0			96,856
Life insurance premiums and related investment income		0			0			0			0			518,084			0			0
Sales of goods and real estate		4,202			107,859			252,969			3,307			0			0			852
Services income		108,146			322,458			69,273			178,105			(1	)		2,914			16,139

Total Segment Revenues		460,699			497,780			377,931			186,021			518,363			63,304			119,592

Interest expense		7,306			2,616			3,833			13,170			256			7,184			20,159
Costs of operating leases		201,286			24,167			26,389			18			0			0			40,986
Life insurance costs		0			0			0			0			384,910			0			0
Costs of goods and real estate sold		3,335			89,593			173,652			1,786			0			0			864
Services expense		57,372			264,952			48,890			136,118			0			7,590			6,724
Other (income) and expense *		18,305			1,664			10,622			446			(110	)		40			68
Selling, general and administrative expenses		89,599			43,405			88,370			22,582			58,904			20,822			11,967
Provision for credit losses, and write-downs of long-lived assets and securities		2,199			3,098			1,743			20,573			4			(176	)		3

Total Segment Expenses		379,402			429,495			353,499			194,693			443,964			35,460			80,771

Equity in Net income (Loss) of equity method investments and others		9,032			2,256			74,440			3,749			(0	)		1,447			28,599

Segment Profits		90,329			70,541			98,872			(4,923	)		74,399			29,291			67,420

Significant non-cash items:
Depreciation and amortization		158,166			18,992			25,053			33,457			24,219			571			30,808
Increase in policy liabilities and policy account balances		0			0			0			0			268,258			0			0
Bargain purchase gain		0			0			0			0			0			0			0
Impairment of goodwill and intangible assets		0			0			11,149			0			0			0			0
Expenditures for long-lived assets		211,006			78,824			14,594			50,720			116			20			300,251

	Millions of yen
	Fiscal Year ended March 31, 2025
	ORIX USA			ORIX Europe			Asia and Australia			Total
Finance revenues		102,627			4,077			74,961			329,677
Gains on investment securities and dividends		119			4,408			1,933			14,444
Operating leases		861			0			135,169			619,417
Life insurance premiums and related investment income		0			0			0			518,084
Sales of goods and real estate		543			0			751			370,483
Services income		50,078			248,782			23,406			1,019,300

Total Segment Revenues		154,228			257,267			236,220			2,871,405

Interest expense		40,016			665			41,761			136,966
Costs of operating leases		1,496			0			97,249			391,591
Life insurance costs		0			0			0			384,910
Costs of goods and real estate sold		307			0			684			270,221
Services expense		2,823			66,446			14,710			605,625
Other (income) and expense *		(3,382	)		4,231			(5,654	)		26,230
Selling, general and administrative expenses		95,406			138,859			44,342			614,256
Provision for credit losses, and write-downs of long-lived assets and securities		7,669			115			9,983			45,211

Total Segment Expenses		144,335			210,316			203,075			2,475,010

Equity in Net income (Loss) of equity method investments and others		30,022			(2,578	)		1,306			148,273

Segment Profits		39,915			44,373			34,451			544,668

Significant non-cash items:
Depreciation and amortization		2,687			6,234			93,705			393,892
Increase in policy liabilities and policy account balances		0			0			0			268,258
Bargain purchase gain		0			0			3,750			3,750
Impairment of goodwill and intangible assets		1,175			1,971			0			14,295
Expenditures for long-lived assets		2,326			1,143			177,320			836,320

*	Other (income) and expense includes items such as expenses of taxes and insurance premiums related to finance leases, impairment of goodwill and intangible assets, gains and losses on derivatives, and foreign exchange gains and losses.

- 18 -


	Millions of yen
	Fiscal Year ended March 31, 2026
	Corporate Financial Services and Maintenance Leasing			Real Estate			PE Investment and Concession			Environment and Energy			Insurance			Banking and Credit			Aircraft and Ships
Finance revenues		68,600			5,052			15,243			11,938			141			78,903			3,853
Gains on investment securities and dividends		1,639			953			1,861			20,553			0			(5,348	)		272
Operating leases		301,626			52,300			36,441			89			0			0			102,827
Life insurance premiums and related investment income		0			0			0			0			642,904			0			0
Sales of goods and real estate		4,689			126,074			301,345			3,311			0			0			1,093
Services income		111,288			346,522			87,063			173,340			0			2,884			21,971

Total Segment Revenues		487,842			530,901			441,953			209,231			643,045			76,439			130,016

Interest expense		12,025			5,721			5,321			15,499			545			19,809			19,386
Costs of operating leases		211,610			24,962			23,331			20			0			0			46,309
Life insurance costs		0			0			0			0			480,603			0			0
Costs of goods and real estate sold		3,778			108,329			212,658			2,050			0			0			1,120
Services expense		61,398			275,837			59,934			131,543			0			7,399			8,268
Other (income) and expense *		18,505			(2,512	)		(3,460	)		(5,158	)		(3	)		(89	)		(1,527	)
Selling, general and administrative expenses		88,127			46,996			92,620			26,037			58,979			23,854			15,328
Provision for credit losses, and write-downs of long-lived assets and securities		3,348			878			8,044			6,772			30			188			4

Total Segment Expenses		398,791			460,211			398,448			176,763			540,154			51,161			88,888

Equity in Net income (Loss) of equity method investments and others		11,689			7,819			82,106			83,304			(0	)		1,934			25,480

Segment Profits		100,740			78,509			125,611			115,772			102,891			27,212			66,608

Significant non-cash items:
Depreciation and amortization		168,128			19,797			20,049			32,268			20,121			(766	)		32,231
Increase in policy liabilities and policy account balances		0			0			0			0			395,623			0			0
Bargain purchase gain		0			0			0			0			0			0			0
Impairment of goodwill and intangible assets		0			0			1,092			3,614			0			0			0
Expenditures for long-lived assets		237,759			65,955			16,874			59,772			513			155			230,164

	Millions of yen
	Fiscal Year ended March 31, 2026
	ORIX USA			ORIX Europe			Asia and Australia			Total
Finance revenues		106,559			3,360			73,492			367,141
Gains on investment securities and dividends		89,425			13,869			5,830			129,054
Operating leases		2,670			0			139,189			635,142
Life insurance premiums and related investment income		0			0			0			642,904
Sales of goods and real estate		2,535			0			482			439,529
Services income		71,030			273,857			24,421			1,112,376

Total Segment Revenues		272,219			291,086			243,414			3,326,146

Interest expense		52,997			687			38,177			170,167
Costs of operating leases		2,851			0			99,936			409,019
Life insurance costs		0			0			0			480,603
Costs of goods and real estate sold		1,659			0			407			330,001
Services expense		1,947			72,084			15,898			634,308
Other (income) and expense *		51,322			4,586			(1,050	)		60,614
Selling, general and administrative expenses		123,875			157,595			46,707			680,118
Provision for credit losses, and write-downs of long-lived assets and securities		25,342			148			7,169			51,923

Total Segment Expenses		259,993			235,100			207,244			2,816,753

Equity in Net income (Loss) of equity method investments and others		(11,272	)		7,065			15,079			223,204

Segment Profits		954			63,051			51,249			732,597

Significant non-cash items:
Depreciation and amortization		2,779			7,039			97,337			398,983
Increase in policy liabilities and policy account balances		0			0			0			395,623
Bargain purchase gain

SEC Form 6-K filed by ORIX Corporation