# EDGAR Filing Document

**Accession Number:** 0001070304
**File Stem:** 0001193125-25-275755
**Filing Date:** 2025-11
**Character Count:** 76168
**Document Hash:** 8209e68253d0738aaf564ea65a21faef
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-275755.hdr.sgml**: 20251112

**ACCESSION NUMBER**: 0001193125-25-275755

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251112

**FILED AS OF DATE**: 20251112

**DATE AS OF CHANGE**: 20251112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ORIX CORP
- **CENTRAL INDEX KEY:** 0001070304
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS BUSINESS CREDIT INSTITUTION [6159]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-14856
- **FILM NUMBER:** 251468438

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** WORLD TRADE CENTER BLDG., SOUTH TOWER
- **STREET 2:** 2-4-1 HAMAMATSU-CHO, MINATO-KU
- **CITY:** TOKYO
- **NON US STATE TERRITORY:** TOKYO
- **PROVINCE COUNTRY:** M0
- **ZIP:** 105 0013
- **BUSINESS PHONE:** 81334353000

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** WORLD TRADE CENTER BLDG., SOUTH TOWER
- **STREET 2:** 2-4-1 HAMAMATSU-CHO, MINATO-KU
- **CITY:** TOKYO
- **NON US STATE TERRITORY:** TOKYO
- **PROVINCE COUNTRY:** M0
- **ZIP:** 105 0013

**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 November 2025** 

**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 Second Quarter Consolidated Financial Results (April 1, 2025 –September 30, 2025) filed with the Tokyo Stock Exchange on Wednesday, November 12, 2025.](#fs201688_1)

2. [Announcement Regarding Interim Dividend and Revisions to Consolidated Earnings Forecast and Year-end Dividend Forecast for the Fiscal Year Ending March 31, 2026.](#fs201688_2)

3. [Notice of Partial Amendments to the Repurchase of Own Shares (Expansion of Repurchase Limit).](#fs201688_3)

------

**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** | **ORIX Corporation** |
| Date: November 12, 2025 | By | /s/ Yasuaki Mikami |
|  |  | Yasuaki Mikami |
|  |  | Member of the Board of Directors<br> Senior Managing Executive Officer<br> Responsible for Corporate Function Unit<br> Responsible for Work Style Reform Project<br> ORIX Corporation |

---

------

**Consolidated Financial Results** 

**April 1, 2025 - September 30, 2025** 

November 12, 2025

*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 and Sustainability 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 September 30, 2025** 

(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 Six Months Ended September 30, 2025** 

**(1) Performance Highlights - Operating Results (Unaudited)** 

**(millions of yen)** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Total**<br>**Revenues** | **Year-on-Year**<br>**Change** | **Operating**<br>**Income** | **Year-on-Year**<br>**Change** | **Income<br>before**<br>**Income<br>Taxes** | **Year-on-Year**<br>**Change** | **Net Income**<br>**Attributable to**<br>**ORIX Corporation**<br>**Shareholders** | **Year-on-Year**<br>**Change** |
|  September 30, 2025 | 1564497 | 11.5% | 242878 | 23.3% | 391482 | 52.3% | 271096 | 48.2% |
|  September 30, 2024 | 1403633 | 3.2% | 196972 | 20.0% | 256991 | 39.3% | 182946 | 42.8% |

---

"Comprehensive Income Attributable to ORIX Corporation Shareholders" was ¥488,394 million for the six months ended September 30, 2025 (year-on-year change was a 715.4% increase) and ¥59,896 million for the six months ended September 30, 2024 (year-on-year change was a 80.0% decrease)

---

| | | |
|:---|:---|:---|
|  | **Basic**<br>**Earnings Per Share** | **Diluted**<br>**Earnings Per Share** |
|  September 30, 2025 | 240.42 | 239.91 |
|  September 30, 2024 | 159.42 | 159.15 |

---

---

| | |
|:---|:---|
| **\*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.  |

---

**(2) Performance Highlights - Financial Position (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total**<br>**Assets** | **Total**<br>**Equity** | **Shareholders'**<br>**Equity** | **Shareholders'**<br>**Equity Ratio** |
|  September 30, 2025 | 17604283 | 4521858 | 4441677 | 25.2% |
|  March 31, 2025 | 16866251 | 4171783 | 4089782 | 24.2% |

---

---

| | |
|:---|:---|
| **\*Note 2:** | "Shareholders' Equity" refers to "Total ORIX Corporation Shareholders' Equity."  |

---

"Shareholders' Equity Ratio" is the ratio of "Total ORIX Corporation Shareholders' Equity" to "Total Assets."

**2. Dividends (Unaudited)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **First**<br>**Quarter-end** | **Second**<br>**Quarter-end** | **Third**<br>**Quarter-end** | **Year-end** | **Total** |
|  March 31, 2025 | – | 62.17 | – | 57.84 | 120.01 |
|  March 31, 2026 | – | 93.76 | – |  |  |
|  March 31, 2026 (Est.) | – |  | – |  | 120.01 |

---

---

| | |
|:---|:---|
| **\*Note 3:** | Revision from the previously announced dividend forecast: Yes  |

---

Regarding the interim dividend for the fiscal year ending March 31, 2026, we have decided the dividend per share of ¥93.76 by applying the dividend payout ratio of 39% to earnings per share for the six months ended September 30, 2025.

For the fiscal year ending March 31, 2026, the annual dividend will be the higher of either a payout ratio of 39% or ¥120.01 per share. The minimum dividend amount is shown in the above table. If the net income attributable to ORIX Corporation Shareholders for the fiscal year ending March 31, 2026 is ¥440 billion, as stated in the consolidated earnings forecast below, the annual dividend per share is expected to be ¥153.67.

**3. Forecast for the Year Ending March 31, 2026 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Income before**<br>**Income Taxes** | **Year-on-Year**<br>**Change** | **Net Income**<br>**Attributable to**<br>**ORIX Corporation Shareholders** | **Year-on-Year**<br>**Change** |
|  March 31, 2026 | 640000 | 33.2% | 440000 | 25.1% |

---

---

| | |
|:---|:---|
| **\*Note 4:** | 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.

---

| | |
|:---|:---|
| **\*Note 5:** | Revision from previously announced forecast for the year ending March 31, 2026: Yes  |

---

**4. Other Information** 

---

| | |
|:---|:---|
| **(1) Significant Changes in Scope of Consolidation** | Yes () No (x) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Addition - None () | Exclusion - None () |
| **(2) Adoption of Simplified Accounting Method** | Yes () No (x) |
| **(3) Changes in Accounting Principles, Procedures and Disclosures** | **(3) Changes in Accounting Principles, Procedures and Disclosures** |
| 1. Changes due to adoptions of new accounting standards | Yes () No (x) |
| 2. Other than those above | Yes () No (x) |

---

**(4) Number of Issued Shares (Ordinary Shares)** 

1. The number of issued shares, including treasury stock, was 1,162,962,244 as of September 30, 2025, and 1,162,962,244 as of March 31, 2025.

2. The number of treasury stock was 44,330,296 as of September 30, 2025, and 23,259,695 as of March 31, 2025.

3. The average number of outstanding shares was 1,127,416,302 for the six months ended September 30, 2025, and 1,147,474,112 for the six months ended September 30, 2024.

The Company's shares held through the Board Incentive Plan Trust (3,386,167 shares as of September 30, 2025, 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 September 30, 2025, are not subject to certified public accountant's or audit firm's interim review.

------

**1. Summary of Consolidated Financial Results** 

**(1) Financial Highlights** 

**Financial Results for the Six Months Ended September 30, 2025** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | **Six months**<br>**ended**<br>**September 30, 2024** | **Six months**<br>**ended**<br>**September 30, 2025** | **Change** | **Change** |
|  | | **Six months**<br>**ended**<br>**September 30, 2024** | **Six months**<br>**ended**<br>**September 30, 2025** | **Amount** | **Percent**<br>**(%)** |
|  Total Revenues | (millions of yen) | 1403633 | 1564497 | 160864 | 11 |
|  Total Expenses | (millions of yen) | 1206661 | 1321619 | 114958 | 10 |
|  Income before Income Taxes | (millions of yen) | 256991 | 391482 | 134491 | 52 |
|  Net Income Attributable to ORIX Corporation Shareholders | (millions of yen) | 182946 | 271096 | 88150 | 48 |
|  Earnings Per Share (Basic) | (yen) | 159.42 | 240.42 | 81.00 | 51 |
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Diluted) | (yen) | 159.15 | 239.91 | 80.76 | 51 |
|  ROE (Annualized) \*1 | (%) | 9.3 | 12.7 | 3.4 |  |
|  ROA (Annualized) \*2 | (%) | 2.24 | 3.15 | 0.91 |  |

---

\*Note 1: ROE is the ratio of Net Income Attributable to ORIX Corporation Shareholders for the period to average ORIX Corporation Shareholders' Equity.

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

**Overview of Business Performance (April 1, 2025 to September 30, 2025)** 

Total revenues for the six months ended September 30, 2025 increased 11% to ¥1,564,497 million compared to ¥1,403,633 million during the same period of the previous fiscal year primarily due to gains on investment securities and dividends, including the recognition of a gain of ¥11,840 million related to the transfer of shares of Greenko Energy Holdings, as well as increases in life insurance premiums, related investment income, and service income.

Total expenses increased 10% to ¥1,321,619 million compared to ¥1,206,661 million during the same period of the previous fiscal year primarily due to increases in life insurance costs and selling, general and administrative expenses, offset by decreases in other (income) and expenses.

Equity in net income of equity method investments increased by ¥21,890 million to ¥50,406 million compared to the same period of the previous fiscal year, and gains on sales of subsidiaries and equity method investments and liquidation losses, net increased by ¥66,695 million to ¥98,198 million compared to the same period of the previous fiscal year, mainly 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 six months ended September 30, 2025 increased 52% to ¥391,482 million compared to ¥256,991 million during the same period of the previous fiscal year and net income attributable to ORIX Corporation shareholders increased 48% to ¥271,096 million compared to ¥182,946 million during the same period of the previous fiscal year.

------

**Segment Information** 

Total segment profits for the six months ended September 30, 2025 increased 42% to ¥409,382 million compared to the same period of the previous fiscal year.

Segment information for the six months ended September 30, 2025 is as follows:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended** <br>**September 30, 2024**<br>**(millions of yen)** | **Six months ended** <br>**September 30, 2025**<br>**(millions of yen)** | **Change** | **Change** |
| | **Six months ended** <br>**September 30, 2024**<br>**(millions of yen)** | **Six months ended** <br>**September 30, 2025**<br>**(millions of yen)** | **Amount**<br> **(millions of yen)** | **Percent** <br>**(%)** |
|  Segment Profits | 45566 | 58640 | 13074 | 29 |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Change** | **Change** |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Amount**<br>**(millions of yen)** | **Percent**<br>**(%)** |
|  Segment Assets | 1884565 | 1855316 | (29249) | (2) |

---

Segment profits increased 29% to ¥58,640 million compared to the same period of the previous fiscal year primarily due to increases in operating leases revenues, finance revenues, equity in net income (loss) of equity method investment, and gains on sales of subsidiaries and equity method investments.

Segment assets decreased 2% to ¥1,855,316 million 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.

**<u>Real Estate</u>:** Real estate development, rental and management; facility operations; real estate asset management

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended** <br>**September 30, 2024**<br>**(millions of yen)** | **Six months ended** <br>**September 30, 2025**<br>**(millions of yen)** | **Change** | **Change** |
| | **Six months ended** <br>**September 30, 2024**<br>**(millions of yen)** | **Six months ended** <br>**September 30, 2025**<br>**(millions of yen)** | **Amount**<br> **(millions of yen)** | **Percent** <br>**(%)** |
|  Segment Profits | 50357 | 49094 | (1263) | (3) |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Change** | **Change** |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Amount**<br>**(millions of yen)** | **Percent**<br>**(%)** |
|  Segment Assets | 1158293 | 1160346 | 2053 | 0 |

---

Segment profits decreased 3% to ¥49,094 million compared to the same period of the previous fiscal year primarily due to a decrease in operating leases revenues, and increases in selling, general and administrative expenses and costs of goods and real estate sold, partially offset by an increase in services income.

Segment assets totaled ¥1,160,346 million, remaining relatively unchanged compared to the end of the previous fiscal year primarily due to decreases in trade notes, accounts and other receivable and property under facility operations, partially offset by increases in equity method investments, inventories, and investment in operating leases.

------

**<u>PE Investment and Concession</u>:** Private equity investment and concession

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended** <br>**September 30, 2024**<br>**(millions of yen)** | **Six months ended** <br>**September 30, 2025**<br>**(millions of yen)** | **Change** | **Change** |
| | **Six months ended** <br>**September 30, 2024**<br>**(millions of yen)** | **Six months ended** <br>**September 30, 2025**<br>**(millions of yen)** | **Amount**<br> **(millions of yen)** | **Percent** <br>**(%)** |
|  Segment Profits | 46997 | 56657 | 9660 | 21 |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Change** | **Change** |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Amount**<br>**(millions of yen)** | **Percent**<br>**(%)** |
|  Segment Assets | 1022944 | 1054794 | 31850 | 3 |

---

Segment profits increased 21% to ¥56,657 million compared to the same period of the previous fiscal year primarily due to increases in equity in net income (loss) of equity method investments and gains on sales of office facilities, partially offset by the absence of gains on sales of subsidiaries and equity method investments recorded in the first quarter of the previous fiscal year as a result of the sale of investees.

Segment assets increased 3% to ¥1,054,794 million compared to the end of the previous fiscal year primarily due to increases in equity method investments, property under facility operations, restricted cash, and goodwill, intangible assets acquired in business combinations, partially offset by a decrease in cash and cash equivalents.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br> **September 30, 2024** <br>**(millions of yen)** | **Six months ended**<br> **September 30, 2025** <br>**(millions of yen)** | **Change** | **Change** |
| | **Six months ended**<br> **September 30, 2024** <br>**(millions of yen)** | **Six months ended**<br> **September 30, 2025** <br>**(millions of yen)** | **Amount**<br> **(millions of yen)** | **Percent** <br>**(%)** |
|  Segment Profits | 2346 | 119685 | 117339 |  |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Change** | **Change** |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Amount**<br>**(millions of yen)** | **Percent**<br>**(%)** |
|  Segment Assets | 1016175 | 977372 | (38803) | (4) |

---

Segment profits increased by ¥117,339 million to ¥119,685 million compared to the same period of 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.

Segment assets decreased 4% to ¥977,372 million compared to the end of the previous fiscal year primarily due to decreases in equity method investments and goodwill, intangible assets acquired in business combinations, partially offset by increases in investment in securities and loans to ORIX and its subsidiaries.

------

**<u>Insurance</u>:** Life insurance

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br> **September 30, 2024** <br>**(millions of yen)** | **Six months ended**<br> **September 30, 2025** <br>**(millions of yen)** | **Change** | **Change** |
| | **Six months ended**<br> **September 30, 2024** <br>**(millions of yen)** | **Six months ended**<br> **September 30, 2025** <br>**(millions of yen)** | **Amount**<br> **(millions of yen)** | **Percent** <br>**(%)** |
|  Segment Profits | 40857 | 50856 | 9999 | 24 |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Change** | **Change** |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Amount**<br>**(millions of yen)** | **Percent**<br>**(%)** |
|  Segment Assets | 3009234 | 3140645 | 131411 | 4 |

---

Segment profits increased 24% to ¥50,856 million compared to the same period of the previous fiscal year primarily due to an increase in life insurance premiums and related investment income.

Segment assets increased 4% to ¥3,140,645 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.

**<u>Banking and Credit</u>:** Banking and consumer finance

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br> **September 30, 2024** <br>**(millions of yen)** | **Six months ended**<br> **September 30, 2025** <br>**(millions of yen)** | **Change** | **Change** |
| | **Six months ended**<br> **September 30, 2024** <br>**(millions of yen)** | **Six months ended**<br> **September 30, 2025** <br>**(millions of yen)** | **Amount**<br> **(millions of yen)** | **Percent** <br>**(%)** |
|  Segment Profits | 13107 | 12529 | (578) | (4) |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Change** | **Change** |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Amount**<br>**(millions of yen)** | **Percent**<br>**(%)** |
|  Segment Assets | 3144571 | 3253617 | 109046 | 3 |

---

Segment profits decreased 4% to ¥12,529 million compared to the same period of the previous fiscal year primarily due to a decrease in gains on investment securities and dividends and an increase in selling, general and administrative expense, partially offset by an increase in finance revenues.

Segment assets increased 3% to ¥3,253,617 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 securities.

------

**<u>Aircraft and Ships</u>:** Aircraft investment and management; ship-related finance and investment, maritime asset management and ship brokerage

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br> **September 30, 2024** <br>**(millions of yen)** | **Six months ended**<br> **September 30, 2025** <br>**(millions of yen)** | **Change** | **Change** |
| | **Six months ended**<br> **September 30, 2024** <br>**(millions of yen)** | **Six months ended**<br> **September 30, 2025** <br>**(millions of yen)** | **Amount**<br> **(millions of yen)** | **Percent** <br>**(%)** |
|  Segment Profits | 32011 | 21952 | (10059) | (31) |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Change** | **Change** |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Amount**<br>**(millions of yen)** | **Percent**<br>**(%)** |
|  Segment Assets | 1231973 | 1256054 | 24081 | 2 |

---

Segment profits decreased 31% to ¥21,952 million compared to the same period of the previous fiscal year primarily due to an increase in costs of operating leases and a decrease in foreign exchange (gains) losses in the ship-related business, partially offset by an increase in operating leases revenues in the same business.

Segment assets increased 2% to ¥1,256,054 million compared to the end of the previous fiscal year primarily due to increases in investment in operating leases and net investment in leases in the aircraft business, partially offset by decreases in investment in operating leases and installment loans in the ship-related business.

**<u>ORIX USA</u>:** Finance, investment and asset management in the Americas

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br> **September 30, 2024** <br>**(millions of yen)** | **Six months ended**<br> **September 30, 2025** <br>**(millions of yen)** | **Change** | **Change** |
| | **Six months ended**<br> **September 30, 2024** <br>**(millions of yen)** | **Six months ended**<br> **September 30, 2025** <br>**(millions of yen)** | **Amount**<br> **(millions of yen)** | **Percent** <br>**(%)** |
|  Segment Profits | 16607 | (1803) | (18410) |  |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Change** | **Change** |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Amount**<br>**(millions of yen)** | **Percent**<br>**(%)** |
|  Segment Assets | 1593939 | 1917168 | 323229 | 20 |

---

Segment profits decreased by ¥18,410 million to losses of ¥1,803 million compared to the same period of the previous fiscal year primarily due to a decrease in gains on sales of subsidiaries and equity method investments, and increases in provision for credit losses and selling, general and administrative expenses, partially offset by an increase in gains on investment securities and dividends.

Segment assets increased 20% to ¥1,917,168 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.

------

**<u>ORIX Europe</u>:** Asset management of global equity and fixed income

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br> **September 30, 2024** <br>**(millions of yen)** | **Six months ended**<br> **September 30, 2025** <br>**(millions of yen)** | **Change** | **Change** |
| | **Six months ended**<br> **September 30, 2024** <br>**(millions of yen)** | **Six months ended**<br> **September 30, 2025** <br>**(millions of yen)** | **Amount**<br> **(millions of yen)** | **Percent** <br>**(%)** |
|  Segment Profits | 20797 | 22079 | 1282 | 6 |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Change** | **Change** |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Amount**<br>**(millions of yen)** | **Percent**<br>**(%)** |
|  Segment Assets | 669306 | 719789 | 50483 | 8 |

---

Segment profits increased 6% to ¥22,079 million compared to the same period of the previous fiscal year primarily due to an increase in services income.

Segment assets increased 8% to ¥719,789 million compared to the end of the previous fiscal year primarily due to a general increase as a result of foreign exchange effects.

**<u>Asia and Australia</u>:** Finance and investment businesses in Asia and Australia

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br> **September 30, 2024** <br>**(millions of yen)** | **Six months ended**<br> **September 30, 2025** <br>**(millions of yen)** | **Change** | **Change** |
| | **Six months ended**<br> **September 30, 2024** <br>**(millions of yen)** | **Six months ended**<br> **September 30, 2025** <br>**(millions of yen)** | **Amount**<br> **(millions of yen)** | **Percent** <br>**(%)** |
|  Segment Profits | 19124 | 19693 | 569 | 3 |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Change** | **Change** |
|  | **As of March 31, 2025**<br>**(millions of yen)** | **As of September 30, 2025**<br>**(millions of yen)** | **Amount**<br>**(millions of yen)** | **Percent**<br>**(%)** |
|  Segment Assets | 1725627 | 1741117 | 15490 | 1 |

---

Segment profits increased 3% to ¥19,693 million compared to the same period of the previous fiscal year primarily due to decreases in equity in net income (loss) of equity method investments and finance revenues in Greater China, partially offset by a decrease in credit loss expenses in Greater China, as well as increases in finance revenues and equity in net income (loss) of equity method investments in Asia-Pacific.

Segment assets increased 1% to ¥1,741,117 million compared to the end of the previous fiscal year primarily due to increases in investment in operating leases and net investment in leases as a result of foreign exchange effects in Asia-Pacific, partially offset by decreases in net investment in leases and installment loans in Greater China.

------

**(2) Consolidated Financial Condition** 

**Summary of Assets, Liabilities, Shareholders' Equity** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **As of March 31,**<br>**2025** | **As of September 30,**<br>**2025** | **Change** | **Change** |
| | | **As of March 31,**<br>**2025** | **As of September 30,**<br>**2025** | **Amount** | **Percent** |
|  Total Assets | (millions of yen) | 16866251 | 17604283 | 738032 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Segment Assets) |  | 16456627 | 17076218 | 619591 | 4 |
|  Total Liabilities | (millions of yen) | 12691036 | 13034239 | 343203 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Short-term and Long-term Debt) |  | 6282798 | 6521348 | 238550 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Deposits) |  | 2449812 | 2628153 | 178341 | 7 |
|  Shareholders' Equity \*1 | (millions of yen) | 4089782 | 4441677 | 351895 | 9 |
|  Shareholders' Equity Per Share \*2 | (yen) | 3599.24 | 3982.69 | 383.45 | 11 |

---

---

| | |
|:---|:---|
| \*Note 1: | "Shareholders' Equity" refers to "Total ORIX Corporation Shareholders' Equity" based on U.S. GAAP.  |

---

---

| | |
|:---|:---|
| \*Note 2: | "Shareholders' Equity Per Share" is calculated using "Total ORIX Corporation Shareholders' Equity".  |

---

Total assets increased 4% to ¥17,604,283 million compared to the end of the previous fiscal year primarily due to increases in investment in securities, installment loans, investment in operating leases and other assets (mainly goodwill, intangible assets acquired in business combinations and reinsurance recoverable), primarily offset by decreases in equity method investments. In addition, segment assets increased 4% to ¥17,076,218 million compared to the end of the previous fiscal year.

Total liabilities increased 3% to ¥13,034,239 million compared to the end of the previous fiscal year primarily due to increases in long-term debt and deposits, primarily offset by decreases in policy liabilities and policy account balances and trade notes, accounts and other payable.

Shareholders' equity increased 9% to ¥4,441,677 million compared to the end of the previous fiscal year.

------

**2. Financial Information** 

**(1) Condensed Consolidated Balance Sheets (Unaudited)** 

**(millions of yen)** 

---

| | | | |
|:---|:---|:---|:---|
| **Assets** | **Assets** | **As of March 31,<br>2025** | **As of September 30,<br>2025** |
|  Cash and Cash Equivalents | Cash and Cash Equivalents | 1206573 | 1275912 |
|  Restricted Cash | Restricted Cash | 115410 | 119811 |
|  Net Investment in Leases | Net Investment in Leases | 1167380 | 1200669 |
|  Installment Loans | Installment Loans | 4081019 | 4208241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amounts which are measured at fair value by electing the fair value option are as follows: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amounts which are measured at fair value by electing the fair value option are as follows: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2025 | ¥97,694 million |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025 | ¥85,724 million |  |  |
|  Allowance for Credit Losses | Allowance for Credit Losses | (56769) | (58990) |
|  Investment in Operating Leases | Investment in Operating Leases | 1967178 | 2086405 |
|  Investment in Securities | Investment in Securities | 3234547 | 3393331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amounts which are measured at fair value by electing the fair value option are as follows: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amounts which are measured at fair value by electing the fair value option are as follows: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2025 | ¥41,018 million |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025 | ¥41,499 million |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amounts which are associated to available-for-sale debt securities are as follows: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amounts which are associated to available-for-sale debt securities are as follows: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2025 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortized Cost | ¥3,174,036 million |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allowance for Credit Losses | ¥(670) million |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortized Cost | ¥3,394,683 million |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allowance for Credit Losses | ¥(771) million |  |  |
|  Property under Facility Operations | Property under Facility Operations | 771851 | 767159 |
|  Equity method investments | Equity method investments | 1320015 | 1240679 |
|  Trade Notes, Accounts and Other Receivable | Trade Notes, Accounts and Other Receivable | 411012 | 413144 |
|  Inventories | Inventories | 229229 | 240377 |
|  Office Facilities | Office Facilities | 191957 | 192910 |
|  Other Assets | Other Assets | 2226849 | 2524635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amounts which are measured at fair value by electing the fair value option are as follows: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amounts which are measured at fair value by electing the fair value option are as follows: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2025 | ¥2,586 million |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025 | ¥1,515 million |  |  |
|  **Total Assets** |  | 16866251 | 17604283 |
| **Liabilities and Equity** | **Liabilities and Equity** |  |  |
|  Short-term Debt | Short-term Debt | 549680 | 609876 |
|  Deposits | Deposits | 2449812 | 2628153 |
|  Trade Notes, Accounts and Other Payable | Trade Notes, Accounts and Other Payable | 339787 | 317205 |
|  Policy Liabilities and Policy Account Balances | Policy Liabilities and Policy Account Balances | 1948047 | 1724828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amounts which are measured at fair value by electing the fair value option are as follows: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amounts which are measured at fair value by electing the fair value option are as follows: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2025 | ¥136,257 million |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025 | ¥142,700 million |  |  |
|  Current and Deferred Income Taxes |  | 578781 | 675172 |
|  Long-term Debt |  | 5733118 | 5911472 |
|  Other Liabilities | Other Liabilities | 1091811 | 1167533 |
|  **Total Liabilities** | **Total Liabilities** | 12691036 | 13034239 |
|  **Redeemable Noncontrolling Interests** | **Redeemable Noncontrolling Interests** | 3432 | 48186 |
|  **Commitments and Contingent Liabilities** | **Commitments and Contingent Liabilities** |  |  |
|  Common Stock | Common Stock | 221111 | 221111 |
|  Additional Paid-in Capital | Additional Paid-in Capital | 234193 | 235206 |
|  Retained Earnings | Retained Earnings | 3354911 | 3560087 |
|  Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income | 341298 | 558624 |
|  Treasury Stock, at Cost | Treasury Stock, at Cost | (61731) | (133351) |
|  **Total ORIX Corporation Shareholders' Equity** | **Total ORIX Corporation Shareholders' Equity** | 4089782 | 4441677 |
|  **Noncontrolling Interests** | **Noncontrolling Interests** | 82001 | 80181 |
|  **Total Equity** | **Total Equity** | 4171783 | 4521858 |
|  **Total Liabilities and Equity** | **Total Liabilities and Equity** | 16866251 | 17604283 |

---

------

**Note**: Breakdown of Accumulated Other Comprehensive Income (Loss)

---

| | | |
|:---|:---|:---|
|  | **As of March 31,<br>2025** | **As of September 30,<br>2025** |
|  Accumulated Other Comprehensive Income (Loss) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net unrealized gains (losses) on investment in securities | (403914) | (491973) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impact of changes in policy liability discount rate | 416124 | 727583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt valuation adjustments | 49 | 237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Defined benefit pension plans | 14791 | 20339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency translation adjustments | 304657 | 299909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net unrealized gains on derivative instruments | 9591 | 2529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | 341298 | 558624 |

---

------

**(2) Condensed Consolidated Statements of Income (Unaudited)** 

**(millions of yen)** 

---

| | | |
|:---|:---|:---|
|  | **Six months**<br>**ended<br>September 30, 2024** | **Six months**<br>**ended<br>September 30, 2025** |
| **Revenues :** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance revenues | 164734 | 177350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on investment securities and dividends | 6550 | 37697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating leases | 310848 | 309624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Life insurance premiums and related investment income | 233808 | 299708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales of goods and real estate | 190874 | 206964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Services income | 496819 | 533154 |
|  **Total Revenues** | 1403633 | 1564497 |
| **Expenses :** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense | 83717 | 93811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Costs of operating leases | 192799 | 201850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Life insurance costs | 166863 | 220628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Costs of goods and real estate sold | 139155 | 154612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Services expense | 290952 | 305228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other (income) and expense | 10902 | 401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Selling, general and administrative expenses | 314225 | 332954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision for credit losses | 7319 | 9989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Write-downs of long-lived assets | 506 | 1397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Write-downs of securities | 223 | 749 |
|  **Total Expenses** | 1206661 | 1321619 |
|  **Operating Income** | 196972 | 242878 |
|  Equity in Net Income of Equity method investments | 28516 | 50406 |
|  Gains on Sales of Subsidiaries and Equity method investments and Liquidation Losses, net | 31503 | 98198 |
|  **Income before Income Taxes** | 256991 | 391482 |
|  Provision for Income Taxes | 74862 | 116622 |
|  **Net Income** | 182129 | 274860 |
|  **Net Income (Loss) Attributable to the Noncontrolling Interests** | (973) | 3691 |
|  **Net Income Attributable to the Redeemable Noncontrolling Interests** | 156 | 73 |
|  **Net Income Attributable to ORIX Corporation Shareholders** | 182946 | 271096 |

---

------

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

---

| | | |
|:---|:---|:---|
|  |<br>**Six months**<br>**ended<br>September 30, 2024** | **(millions of yen)**<br>**Six months**<br>**ended<br>September 30, 2025** |
|  **Net Income :** | 182129 | 274860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other comprehensive income (loss), net of tax: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change of unrealized gains (losses) on investment in securities | (54756) | (88065) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impact of changes in policy liability discount rate | 2741 | 311459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change of debt valuation adjustments | (75) | 188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change of defined benefit pension plans | (526) | 5545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change of foreign currency translation adjustments | (63533) | (4988) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change of unrealized gains (losses) on derivative instruments | (8229) | (7093) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total other comprehensive income (loss) | (124378) | 217046 |
|  **Comprehensive Income** | 57751 | 491906 |
|  **Comprehensive Income (Loss) Attributable to the Noncontrolling Interests** | (2132) | 3043 |
|  **Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests** | (13) | 469 |
|  **Comprehensive Income Attributable to ORIX Corporation Shareholders** | 59896 | 488394 |

---

**(4) Assumptions for Going Concern** 

There is no corresponding item.

**(5) Significant Changes in Shareholders' Equity** 

There is no corresponding item.

**(6) Changes in Accounting Policies** 

There are no changes in accounting policies.

------

**(7) Segment Information (Unaudited)** 

The Group CEO, as the Chief Operating Decision Maker ("CODM"), regularly assesses segment performance and allocates management resources 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<br>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.

------

Segment information for the six months ended September 30, 2024 and six months ended September 30, 2025 is as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** |
|  | **Six months ended September 30, 2024** | **Six months ended September 30, 2024** | **Six months ended September 30, 2024** | **Six months ended September 30, 2024** | **Six months ended September 30, 2024** | **Six months ended September 30, 2024** | **Six months ended September 30, 2024** |
|  | **Corporate<br>Financial<br>Services and<br>Maintenance<br>Leasing** | **Real<br>Estate** | **PE<br>Investment<br>and<br>Concession** | **Environment<br>and Energy** | **Insurance** | **Banking<br>and<br>Credit** | **Aircraft<br>and<br>Ships** |
|  Finance revenues | 30890 | 2467 | 5978 | 616 | 159 | 28818 | 3333 |
|  Gains on investment securities and dividends | 1460 | 845 | 586 | (8) | 0 | 65 | 139 |
|  Operating leases | 139859 | 37842 | 20605 | 39 | 0 | 0 | 41900 |
|  Life insurance premiums and related investment income | 0 | 0 | 0 | 0 | 235014 | 0 | 0 |
|  Sales of goods and real estate | 1812 | 61793 | 122384 | 1481 | 0 | 0 | 196 |
|  Services income | 54783 | 157232 | 31473 | 86834 | (1) | 1567 | 5734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Segment Revenues** | 228804 | 260179 | 181026 | 88962 | 235172 | 30450 | 51302 |
|  Interest expense | 3278 | 1172 | 1655 | 6211 | 81 | 2745 | 8563 |
|  Costs of operating leases | 98878 | 11941 | 13072 | 9 | 0 | 0 | 17581 |
|  Life insurance costs | 0 | 0 | 0 | 0 | 166834 | 0 | 0 |
|  Costs of goods and real estate sold | 1489 | 49789 | 84951 | 836 | 0 | 0 | 199 |
|  Services expense | 29522 | 125059 | 21928 | 65705 | 0 | 4433 | 2151 |
|  Other (income) and expense | 8757 | 703 | (449) | 562 | (140) | 106 | (2543) |
|  Selling, general and administrative expenses | 45051 | 20873 | 43194 | 10828 | 27539 | 10635 | 5004 |
|  Provision for credit losses, and write-downs of long-lived assets and securities | 1060 | 60 | 93 | 238 | 1 | 308 | (0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Segment Expenses** | 188035 | 209597 | 164444 | 84389 | 194315 | 18227 | 30955 |
|  Equity in Net income (Loss) of equity method investments and others | 4797 | (225) | 30415 | (2227) | (0) | 884 | 11664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Segment Profits** | 45566 | 50357 | 46997 | 2346 | 40857 | 13107 | 32011 |
|  Significant non-cash items: |  |  |  |  |  |  |  |
|  Depreciation and amortization | 77763 | 9494 | 12910 | 16713 | 14842 | 326 | 13728 |
|  Increase in policy liabilities and policy account balances | 0 | 0 | 0 | 0 | 41053 | 0 | 0 |
|  Expenditures for long-lived assets | 100876 | 40706 | 7941 | 21293 | 77 | 0 | 174188 |
|  | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** |  |  |  |
|  | **Six months ended September 30, 2024** | **Six months ended September 30, 2024** | **Six months ended September 30, 2024** | **Six months ended September 30, 2024** |  |  |  |
|  | **ORIX USA** | **ORIX<br>Europe** | **Asia and<br>Australia** | **Total** |  |  |  |
|  Finance revenues | 53163 | 1990 | 37885 | 165299 |  |  |  |
|  Gains on investment securities and dividends | (280) | 3821 | (47) | 6581 |  |  |  |
|  Operating leases | 292 | 0 | 67510 | 308047 |  |  |  |
|  Life insurance premiums and related investment income | 0 | 0 | 0 | 235014 |  |  |  |
|  Sales of goods and real estate | 235 | 0 | 246 | 188147 |  |  |  |
|  Services income | 22255 | 120866 | 12016 | 492759 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Segment Revenues** | 75665 | 126677 | 117610 | 1395847 |  |  |  |
|  Interest expense | 22225 | 373 | 20972 | 67275 |  |  |  |
|  Costs of operating leases | 649 | 0 | 48902 | 191032 |  |  |  |
|  Life insurance costs | 0 | 0 | 0 | 166834 |  |  |  |
|  Costs of goods and real estate sold | 151 | 0 | 229 | 137644 |  |  |  |
|  Services expense | 854 | 32629 | 7599 | 289880 |  |  |  |
|  Other (income) and expense | (2284) | 4609 | (621) | 8700 |  |  |  |
|  Selling, general and administrative expenses | 45360 | 69026 | 21782 | 299292 |  |  |  |
|  Provision for credit losses, and write-downs of long-lived assets and securities | 1617 | 115 | 4555 | 8047 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Segment Expenses** | 68572 | 106752 | 103418 | 1168704 |  |  |  |
|  Equity in Net income (Loss) of equity method investments and others | 9514 | 872 | 4932 | 60626 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Segment Profits** | 16607 | 20797 | 19124 | 287769 |  |  |  |
|  Significant non-cash items: |  |  |  |  |  |  |  |
|  Depreciation and amortization | 1736 | 3202 | 47103 | 197817 |  |  |  |
|  Increase in policy liabilities and policy account balances | 0 | 0 | 0 | 41053 |  |  |  |
|  Expenditures for long-lived assets | 878 | 480 | 86152 | 432591 |  |  |  |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** |
|  | **Six months ended September 30, 2025** | **Six months ended September 30, 2025** | **Six months ended September 30, 2025** | **Six months ended September 30, 2025** | **Six months ended September 30, 2025** | **Six months ended September 30, 2025** | **Six months ended September 30, 2025** |
|  | **Corporate<br>Financial<br>Services and<br>Maintenance<br>Leasing** | **Real<br>Estate** | **PE<br>Investment<br>and<br>Concession** | **Environment<br>and Energy** | **Insurance** | **Banking<br>and<br>Credit** | **Aircraft<br>and<br>Ships** |
|  Finance revenues | 35585 | 2439 | 6433 | 3772 | 72 | 39642 | 2020 |
|  Gains on investment securities and dividends | 2398 | 1103 | 475 | 20092 | 0 | (3976) | 251 |
|  Operating leases | 150390 | 25700 | 17492 | 48 | 0 | 0 | 44048 |
|  Life insurance premiums and related investment income | 0 | 0 | 0 | 0 | 300947 | 0 | 0 |
|  Sales of goods and real estate | 2020 | 64965 | 134971 | 1534 | 0 | 0 | 553 |
|  Services income | 54211 | 179647 | 38124 | 89295 | 0 | 1237 | 9064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Segment Revenues** | 244604 | 273854 | 197495 | 114741 | 301019 | 36903 | 55936 |
|  Interest expense | 5666 | 2566 | 2436 | 6946 | 259 | 8790 | 10189 |
|  Costs of operating leases | 103609 | 12224 | 11359 | 9 | 0 | 0 | 23031 |
|  Life insurance costs | 0 | 0 | 0 | 0 | 221076 | 0 | 0 |
|  Costs of goods and real estate sold | 1631 | 54982 | 94912 | 1022 | 0 | 0 | 420 |
|  Services expense | 29578 | 133414 | 25863 | 65685 | 0 | 4289 | 3857 |
|  Other (income) and expense | 10190 | (3014) | (4027) | (5249) | (3) | 13 | 1282 |
|  Selling, general and administrative expenses | 44986 | 22995 | 44318 | 12875 | 28857 | 11961 | 6657 |
|  Provision for credit losses, and write-downs of long-lived assets and securities | 609 | 138 | 936 | 335 | (26) | 207 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Segment Expenses** | 196269 | 223305 | 175797 | 81623 | 250163 | 25260 | 45435 |
|  Equity in Net income (Loss) of equity method investments and others | 10305 | (1455) | 34959 | 86567 | (0) | 886 | 11451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Segment Profits** | 58640 | 49094 | 56657 | 119685 | 50856 | 12529 | 21952 |
|  Significant non-cash items: |  |  |  |  |  |  |  |
|  Depreciation and amortization | 82359 | 9409 | 10476 | 15972 | 12195 | (100) | 16487 |
|  Increase in policy liabilities and policy account balances | 0 | 0 | 0 | 0 | 196700 | 0 | 0 |
|  Expenditures for long-lived assets | 121442 | 25671 | 8878 | 21758 | 102 | 65 | 121490 |
|  | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** |  |  |  |
|  | **Six months ended September 30, 2025** | **Six months ended September 30, 2025** | **Six months ended September 30, 2025** | **Six months ended September 30, 2025** |  |  |  |
|  | **ORIX USA** | **ORIX<br>Europe** | **Asia and<br>Australia** | **Total** |  |  |  |
|  Finance revenues | 51219 | 1518 | 35309 | 178009 |  |  |  |
|  Gains on investment securities and dividends | 7801 | 9437 | 167 | 37748 |  |  |  |
|  Operating leases | 1038 | 0 | 67820 | 306536 |  |  |  |
|  Life insurance premiums and related investment income | 0 | 0 | 0 | 300947 |  |  |  |
|  Sales of goods and real estate | 575 | 0 | 219 | 204837 |  |  |  |
|  Services income | 24039 | 122930 | 11168 | 529715 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Segment Revenues** | 84672 | 133885 | 114683 | 1557792 |  |  |  |
|  Interest expense | 24980 | 265 | 18916 | 81013 |  |  |  |
|  Costs of operating leases | 1297 | 0 | 48393 | 199922 |  |  |  |
|  Life insurance costs | 0 | 0 | 0 | 221076 |  |  |  |
|  Costs of goods and real estate sold | 267 | 0 | 198 | 153432 |  |  |  |
|  Services expense | 867 | 33764 | 7235 | 304552 |  |  |  |
|  Other (income) and expense | (395) | 3429 | (325) | 1901 |  |  |  |
|  Selling, general and administrative expenses | 49684 | 74172 | 22405 | 318910 |  |  |  |
|  Provision for credit losses, and write-downs of long-lived assets and securities | 6911 | 148 | 2877 | 12134 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Segment Expenses** | 83611 | 111778 | 99699 | 1292940 |  |  |  |
|  Equity in Net income (Loss) of equity method investments and others | (2864) | (28) | 4709 | 144530 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Segment Profits** | (1803) | 22079 | 19693 | 409382 |  |  |  |
|  Significant non-cash items: |  |  |  |  |  |  |  |
|  Depreciation and amortization | 717 | 3365 | 46718 | 197598 |  |  |  |
|  Increase in policy liabilities and policy account balances | 0 | 0 | 0 | 196700 |  |  |  |
|  Expenditures for long-lived assets | 1796 | 303 | 89653 | 391158 |  |  |  |

---

------

Segment information as of March 31, 2025 and September 30, 2025 is as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** |
|  | **As of March 31, 2025** | **As of March 31, 2025** | **As of March 31, 2025** | **As of March 31, 2025** | **As of March 31, 2025** | **As of March 31, 2025** | **As of March 31, 2025** |
|  | **Corporate<br>Financial<br>Services and<br>Maintenance<br>Leasing** | **Real Estate** | **PE<br>Investment<br>and<br>Concession** | **Environment<br>and Energy** | **Insurance** | **Banking<br>and Credit** | **Aircraft<br>and Ships** |
|  Net investment in leases | 569380 | 45810 | 1640 | 2092 | 0 | 0 | 0 |
|  Installment loans | 424370 | 30 | 124411 | 3609 | 12805 | 2511736 | 36119 |
|  Investment in operating leases | 557625 | 311377 | 46796 | 237 | 26167 | 0 | 599813 |
|  Investment in securities | 29690 | 6209 | 6117 | 32032 | 2234453 | 305441 | 9387 |
|  Property under facility operations and servicing assets | 43857 | 175153 | 53832 | 487241 | 0 | 0 | 28 |
|  Inventories | 433 | 182652 | 41021 | 2551 | 0 | 0 | 1588 |
|  Advances for finance lease and operating lease | 6177 | 78044 | 3 | 0 | 0 | 0 | 27816 |
|  Equity method investments | 16375 | 177956 | 148274 | 170946 | 35865 | 43934 | 402567 |
|  Advances for property under facility operations | 143 | 7401 | 728 | 70081 | 0 | 0 | 0 |
|  Goodwill, intangible assets acquired in business combinations | 25268 | 50801 | 331003 | 120743 | 4452 | 0 | 43024 |
|  Other assets \* | 211247 | 122860 | 269119 | 126643 | 695492 | 283460 | 111631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Segment Assets** | 1884565 | 1158293 | 1022944 | 1016175 | 3009234 | 3144571 | 1231973 |
|  | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** |  |  |  |
|  | **As of March 31, 2025** | **As of March 31, 2025** | **As of March 31, 2025** | **As of March 31, 2025** |  |  |  |
|  | **ORIX USA** | **ORIX<br>Europe** | **Asia and<br>Australia** | **Total** |  |  |  |
|  Net investment in leases | 451 | 0 | 547966 | 1167339 |  |  |  |
|  Installment loans | 652805 | 0 | 315128 | 4081013 |  |  |  |
|  Investment in operating leases | 21260 | 0 | 394764 | 1958039 |  |  |  |
|  Investment in securities | 487022 | 86008 | 37768 | 3234127 |  |  |  |
|  Property under facility operations and servicing assets | 76469 | 0 | 1844 | 838424 |  |  |  |
|  Inventories | 137 | 0 | 615 | 228997 |  |  |  |
|  Advances for finance lease and operating lease | 0 | 0 | 4833 | 116873 |  |  |  |
|  Equity method investments | 54817 | 8578 | 260395 | 1319707 |  |  |  |
|  Advances for property under facility operations | 0 | 0 | 51 | 78404 |  |  |  |
|  Goodwill, intangible assets acquired in business combinations | 171884 | 354801 | 6986 | 1108962 |  |  |  |
|  Other assets \* | 129094 | 219919 | 155277 | 2324742 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Segment Assets** | 1593939 | 669306 | 1725627 | 16456627 |  |  |  |

---

\* Other assets include cash and cash equivalents, restricted cash, allowance for credit losses, trade notes, accounts and other receivables, office facilities, loans to ORIX and its subsidiaries, and reinsurance recoverables.

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** |
|  | **As of September 30, 2025** | **As of September 30, 2025** | **As of September 30, 2025** | **As of September 30, 2025** | **As of September 30, 2025** | **As of September 30, 2025** | **As of September 30, 2025** |
|  | **Corporate<br>Financial<br>Services and<br>Maintenance<br>Leasing** | **Real Estate** | **PE<br>Investment<br>and<br>Concession** | **Environment<br>and Energy** | **Insurance** | **Banking<br>and Credit** | **Aircraft<br>and Ships** |
| Net investment in leases | 569392 | 42489 | 1375 | 1838 | 0 | 0 | 11768 |
|  Installment loans | 397929 | 21 | 129094 | 4884 | 13849 | 2631885 | 25993 |
|  Investment in operating leases | 583204 | 329729 | 46504 | 229 | 26050 | 0 | 626577 |
|  Investment in securities | 32341 | 10042 | 6371 | 148462 | 2296469 | 255716 | 4506 |
|  Property under facility operations and<br> servicing assets | 43219 | 158463 | 66860 | 487081 | 0 | 0 | 26 |
|  Inventories | 643 | 192716 | 41897 | 2330 | 0 | 0 | 1842 |
|  Advances for finance lease and operating lease | 5242 | 66865 | 39 | 0 | 0 | 0 | 34820 |
|  Equity method investments | 8338 | 206442 | 190703 | 10365 | 40348 | 43840 | 402807 |
|  Advances for property under facility operations | 19 | 7578 | 3383 | 74608 | 0 | 0 | 0 |
|  Goodwill, intangible assets acquired in<br> business combinations | 24774 | 49752 | 337643 | 112496 | 4452 | 0 | 50960 |
|  Other assets \* | 190215 | 96249 | 230925 | 135079 | 759477 | 322176 | 96755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Segment Assets** | 1855316 | 1160346 | 1054794 | 977372 | 3140645 | 3253617 | 1256054 |
|  | **Millions of yen** | **Millions of yen** | **Millions of yen** | **Millions of yen** |  |  |  |
|  | **As of September 30, 2025** | **As of September 30, 2025** | **As of September 30, 2025** | **As of September 30, 2025** |  |  |  |
|  | **ORIX USA** | **ORIX<br>Europe** | **Asia and<br>Australia** | **Total** |  |  |  |
| Net investment in leases | 428 | 0 | 573261 | 1200551 |  |  |  |
|  Installment loans | 721213 | 0 | 283373 | 4208241 |  |  |  |
|  Investment in operating leases | 27312 | 0 | 438307 | 2077912 |  |  |  |
|  Investment in securities | 508690 | 95095 | 35054 | 3392746 |  |  |  |
|  Property under facility operations and<br> servicing assets | 75660 | 0 | 2033 | 833342 |  |  |  |
|  Inventories | 518 | 0 | 206 | 240152 |  |  |  |
|  Advances for finance lease and operating lease | 0 | 0 | 3217 | 110183 |  |  |  |
|  Equity method investments | 79389 | 8517 | 249690 | 1240439 |  |  |  |
|  Advances for property under facility operations | 0 | 0 | 0 | 85588 |  |  |  |
|  Goodwill, intangible assets acquired in<br> business combinations | 329036 | 377703 | 6840 | 1293656 |  |  |  |
|  Other assets \* | 174922 | 238474 | 149136 | 2393408 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Segment Assets** | 1917168 | 719789 | 1741117 | 17076218 |  |  |  |

---

\* Other assets include cash and cash equivalents, restricted cash, allowance for credit losses, trade notes, accounts and other receivables, office facilities, loans to ORIX and its subsidiaries, and reinsurance recoverables.

------

The reconciliation of segment totals to the condensed consolidated financial statement amounts is as follows:

---

| | | |
|:---|:---|:---|
|  | **Millions of yen** | **Millions of yen** |
|  | **Six months ended<br>September 30, 2024** | **Six months ended<br>September 30, 2025** |
|  Segment revenues: |  |  |
|  Total revenues for segments | 1395847 | 1557792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revenues related to corporate assets | 34620 | 43292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revenues from inter-segment transactions | (26834) | (36587) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total consolidated revenues | 1403633 | 1564497 |
|  Segment profits: |  |  |
|  Total profits for segments | 287769 | 409382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate profits (losses) | (30109) | (21949) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net income (loss) attributable to the noncontrolling interests and net income (loss) attributable to the redeemable noncontrolling interests | (669) | 4049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total consolidated income before income taxes | 256991 | 391482 |

---

**(8) Subsequent Events** 

There are no material subsequent events.

------

![LOGO](g201688g0705070925859.jpg)

**Announcement Regarding Interim Dividend and Revisions to Consolidated Earnings Forecast and Year-end Dividend Forecast for the Fiscal Year Ending March 31, 2026** 

TOKYO, Japan – November 12, 2025 – ORIX Corporation ("ORIX") announced today that its Board of Directors passed a resolution approving the interim dividend, the record date of which is September 30, 2025.In addition, ORIX has revised its consolidated earnings forecast and year-end dividend forecast for the fiscal year ending March 31, 2026, which were previously announced on May 12, 2025, as below.

**1. Interim Dividend Detail for the Fiscal Year Ending March 31, 2026** 

Regarding the interim dividend for the fiscal year ending March 31, 2026, we have decided a dividend per share of 93.76 yen based on the dividend policy announced on May 12, 2025.

---

| | | | |
|:---|:---|:---|:---|
|  | **Determined Items** | **Previously Announced<br>Dividend Forecast** | **Interim Dividend Paid<br>for the Fiscal Year Ended<br>March 31, 2025** |
| **Record Date** | **September 30, 2025** | **September 30, 2025** | **September 30, 2024** |
|  Dividend Per Share | 93.76 yen<sup>\*1</sup> | 60.00 yen<sup>\*2</sup> | 62.17 yen |
|  Total Dividend Amount | 104,883million yen |  | 71,185million yen |
|  Effective Date | December 9, 2025 |  | December 9, 2024 |
|  Source of Dividend | Retained earnings |  | Retained earnings |

---

---

| | |
|:---|:---|
| \*1 | The dividend payout ratio of 39% is applied to earnings per share for the six months ended September 30, 2025.  |

---

---

| | |
|:---|:---|
| \*2 | For the fiscal year ending March 31, 2026, the annual dividend is at the higher of either payout ratio of 39% or 120.01 yen per share. The above table shows the interim dividend of 60.00 yen per share, which is 50% of the minimum annual dividend per share of 120.01 yen.  |

---

**2. Revision of Consolidated Earnings Forecast** 

(1) Details of Revision

Revision of Consolidated Earnings Forecast for the fiscal year ending March 31, 2026 (April 1, 2025 - March 31, 2026)

(Unit: Millions of yen)

---

| | | | |
|:---|:---|:---|:---|
| | | **Income before**<br> **Income Taxes** | **Net Income Attributable to**<br>**ORIX Corporation Shareholders** |
|  Previous Forecast (A) | Previous Forecast (A) |  | 380000 |
|  Revised Forecast (B) | Revised Forecast (B) | 640000 | 440000 |
|  Difference (B-A) | Difference (B-A) |  | 60000 |
|  Difference (%) | Difference (%) |  | 16% |
|  (For Reference) | Results for the previous fiscal year (ended March 31, 2025) | 480463 | 351630 |
|  (For Reference) | Year-on-Year Change | 33% | 25% |

---

------

(2) Reasons for the Revision

This revision reflects the strong performance of the consolidated financial results for the six months ended September 30, 2025, as well as the expectation that each business segment will continue to perform steadily in and after the third quarter.

**3. Revision of Year-end Dividend Forecast** 

The year-end dividend for the fiscal year ending March 31, 2026 is forecasted as "—".

---

| | | | |
|:---|:---|:---|:---|
| | **Dividend Per Share** | **Dividend Per Share** | **Dividend Per Share** |
| | **Interim**<br>**(restated)** | **Fiscal Year-End** | **Total** |
|  Previously Announced Dividend Forecast | 60.00 yen | 60.01 yen | 120.01 yen |
|  Dividend (Actual and Forecast) for the Fiscal Year Ending March 31, 2026 | 93.76 yen |  | 120.01 yen<sup>\*3</sup> |

---

---

| | |
|:---|:---|
| \*3 | For the fiscal year ending March 31, 2026, the annual dividend will be the higher of either a payout ratio of 39% or ¥120.01 per share. The minimum dividend amount is shown in the above table. If the net income attributable to ORIX Corporation Shareholders for the fiscal year ending March 31, 2026 is ¥ 440 billion, as stated in the section "2. Revision of Consolidated Earnings Forecast", the annual dividend per share is expected to be ¥153.67.  |

---

**Contact Information:** 

Investor Relations and Sustainability Department

ORIX Corporation

Tel: +81-3-3435-3121

**About ORIX Group:** 

ORIX Group (ORIX Corporation TSE: 8591; NYSE: IX) was established in 1964 and has grown from its roots in leasing in Japan to become a global, diverse, and unique corporate group. Today, it is active around the world in financing and investment, life insurance, banking, asset management, real estate, concession, environment and energy, automobile-related services, industrial/ICT equipment, ships and aircraft. Since expanding outside of Japan in 1971, ORIX Group has grown its business globally and now operates in around 30 countries and regions across the world with approximately 36,000 people. ORIX Group unites globally around its Purpose: "Finding Paths. Making Impact." combining diverse expertise and innovative thinking to help our world develop in a sustainable way.

For more details, please visit our website: <u>https://www.orix.co.jp/grp/en/</u>

(As of September 30, 2025)

**Caution Concerning Forward Looking Statements:** 

These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results that 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 annual report on Form 20-F filed with the United States Securities and Exchange Commission and under "(4) Risk Factors" of the "1. Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2024 – March 31, 2025" furnished on Form 6-K.

------

![LOGO](g201688g0705070925859.jpg)

**Notice of Partial Amendments to the Repurchase of Own Shares (Expansion of Repurchase Limit)** 

TOKYO, Japan – November 12, 2025 – ORIX Corporation ("ORIX") announced today that its Board of Directors resolved, for the purpose of enhancing capital efficiency and shareholder returns, to partially amend certain matters concerning the repurchase of its own shares under Article 156, Paragraph 1 of the Companies Act, which were authorized at the meeting of the Board of Directors held on May 12, 2025, pursuant to Article 34 of its Articles of Incorporation under Article 459, Paragraph 1 of the Companies Act.

**1. Reason for Changes** 

To enhance capital efficiency and further expand shareholder returns through the agile capital policy execution.

**2. Details of Amendments Relating to the Repurchase** 

(Changes are Underlined)

---

| | | |
|:---|:---|:---|
|  | **Before Change**<br> **(Board of Directors resolution on May 12, 2025)** | **After Change**<br> **(Board of Directors resolution on November<br>12, 2025)** |
| (1) Class of shares to be repurchased | Common shares | Common shares |
| (2) Total number of shares to be repurchased | Up to 40 million shares<br> (approx. 3.5% of the total outstanding shares (excluding treasury shares)) | Up to <u>60 million shares</u><br> (approx. 5.4% of the total outstanding shares (excluding treasury shares)) |
| (3) Total purchase price of shares to be repurchased | Up to 100 billion yen | Up to <u>150 billion yen</u><br> (<u>Additional 50 billion yen</u>) |
| (4) Repurchase Period | From May 19, 2025 to March 31, 2026 | From May 19, 2025 to March 31, 2026 |
| (5) Method of share repurchase | Market purchases based on the discretionary dealing contract regarding repurchase of own shares | Market purchases based on the discretionary dealing contract regarding repurchase of own shares |

---

(Reference)

1. Cumulative number of shares repurchased based on the above resolution at the Board of Directors Meeting (as of October 31, 2025)

(1) Total number of shares repurchased 22,739,700 shares

(2) Total purchase price of shares repurchased JPY 78,031,748,500

2. Status of Treasury Shares as of October 31, 2025

Total outstanding shares (excluding treasury shares): 1,116,950,988 shares

Treasury shares: 46,011,256 shares\*

\* The Company's shares held through the Board Incentive Plan Trust (3,386,167 shares) are not included in the number of treasury shares.

------

**Contact Information:** 

Investor Relations and Sustainability Department

ORIX Corporation

Tel: +81-3-3435-3121

**About ORIX Group:** 

ORIX Group (ORIX Corporation TSE: 8591; NYSE: IX) was established in 1964 and has grown from its roots in leasing in Japan to become a global, diverse, and unique corporate group. Today, it is active around the world in financing and investment, life insurance, banking, asset management, real estate, concession, environment and energy, automobile-related services, industrial/ICT equipment, ships and aircraft. Since expanding outside of Japan in 1971, ORIX Group has grown its business globally and now operates in around 30 countries and regions across the world with approximately 36,000 people. ORIX Group unites globally around its Purpose: "Finding Paths. Making Impact." combining diverse expertise and innovative thinking to help our world develop in a sustainable way.

For more details, please visit our website: <u>https://www.orix.co.jp/grp/en/</u>

(As of September 30, 2025)

**Caution Concerning Forward-Looking Statements:** 

These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results that 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 annual report on Form 20-F filed with the United States Securities and Exchange Commission and under "(4) Risk Factors" of the "1. Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2024 – March 31, 2025" furnished on Form 6-K