Slide 1: Consolidated Financial Results for the Three-Month Period Ended June 30, 2025
ORIX Corporation Consolidated Financial Results For the Three-Month Period Ended June 30, 2025 Kazuki Yamamoto Operating Officer, Corporate Function Unit Responsible for Corporate Planning, Investor Relations and Sustainability August 7, 2025 1 Copyright © ORIX Corporation All rights reserved.
Slide 2: Executive Summary
Executive Summary （１） Net income & ROE ‐ Q1 net income of 107.3 Bln JPY, +20.6 Bln JPY YoY, achieving 28.2% of FY26.3 guidance. Annualized ROE of 10.4% ‐ In Q2, we announced the sale of our partial stake in Greenko and ORIX Asset Management & Loan Services Corporation and made investments in AM Gree
Slide 3: Net income & ROE
Net income & ROE ✓ Achieved net income*1 of 107.3 Bln JPY, a new record for Q1, annualized ROE of 10.4% ✓ Net income rose 20.6 Bln JPY（+24% YoY） *1 Net income refers to Net Income Attributable to ORIX Corporation Shareholders. Full fiscal year Quarterly （Bln JPY） （Bln JPY） ROE 10.0% 9.2% 8.8% 200 RO
Slide 4: Three Categories: Pre-tax Profits Breakdown
Three Categories: Pre-tax Profits Breakdown ✓ Pre-tax profit of 155.5 Bln JPY (+35.3 Bln JPY YoY), achieved 29% of full-year target ✓ Posted pre-tax profit growth YoY in all three categories (Finance, Operation, Investments) Q1 Results FY26.3 Forecast, Segment profits* YoY Major Factors % Achieved 2
Slide 5: Three Categories: ROE
Three Categories: ROE ✓ Q1 ROE hit 10.4%, 1.6 ppt improvement vs. end-FY25.3. ROE also improved in all three categories ✓ Profit growth achieved with progress in capital recycling, shareholders’ equity optimized through share buybacks Three Categories: FY25.3 to FY26.3 Q1 ROE Legend FY26.3 Q1 15% Op
Slide 6: Three Categories: Assets and ROA
Three Categories: Assets and ROA ✓ End-FY26.3 Q1 ROA on total assets was 2.5%, 0.4 ppt improvement vs. end-FY25.3 ✓ ROA improved in all three categories, Investments category up sharply on capital gains Finance Operation Investments 8.1% 6.2% 3.8% 3.5% 4.3% 2.5% 2.7% 3.2% 3.3% 3.1% 3.1% 1.4% 1.6% 1.
Slide 7: Three Categories: Finance, Operation, Investments
Three Categories: Finance, Operation, Investments Three Categories Three Category/Segment Matrix Finance (Recurring earnings, interest rate spread is Operation Investments source of income) (All aspects of operation, including onsite) (Main area for capital recycling) Corporate Financial Services an
Slide 8: Capital Recycling
Capital Recycling ✓ Posted Q1 capital gains of 45.1 Bln JPY, booked gains on the sale of property in Real Estate, exits and valuation gains in Energy and Environment, others ✓ Announced large, 100 Bln JPY-size sales and investments for Q2 and beyond. Will continue to carefully select and execute dea
Slide 9: Greenko Share Transfer Agreement and New Investment in AM Green
Greenko Share Transfer Agreement and New Investment in AM Green ✓ Sold part of ORIX’s stake in Greenko to AM Green Power B.V. (next generation energy firm) ✓ Will invest a portion of proceeds in a convertible note issued by AM Green (Luxembourg) S.à.r.l AM Green Corporate Structure ⚫ Sold 17.5% of O
Slide 10: Agreement to Acquire Shares of Hilco Trading LLC to Make It a Subsidiary
Agreement to Acquire Shares of Hilco Trading LLC to Make It a Subsidiary ✓ Will acquire 71.4% ownership of Hilco Trading LLC (DBA Hilco Global) for 776 Mln USD (plan to complete acquisition of shares by end-Sept 2025) ✓ Aims to strengthen asset management through expansion of private asset originati
Slide 11: Investment Pipeline: Investment Amount and Time Frame to Earnings Contribution
Investment Pipeline: Investment Amount and Time Frame to Earnings Contribution ✓ Investment pipeline is 2 Tln JPY*1 ✓ Will pursue deals (mainly in Operation and Investments) that are either (1) immediately accretive to earnings or (2) longer term but highly profitable *1 2 Tln JPY total includes dea
Slide 12: Inbound Tourism
Inbound Tourism ✓ Concession: Profit growth continues thanks to Expo 2025 Osaka, Kansai and start to international charter flights at Kobe Airport (Both started in April, will contribute to consolidated earnings from Q2) ✓ Real estate operations: RevPAR up fueled by inbound tourism centered on Kansa
Slide 13: Segment Profits: Segments
Segment Profits: 10 Segments ✓ Segment profits up 20% YoY to 164.9 Bln JPY ✓ Profits up sharply on exits in Real Estate, Environment and Energy; contributions from domestic PE investees FY25.3 FY26.3 Highlights （Bln JPY） QoQ YoY Segment Profits Breakdown Q1 Q2 Q3 Q4 Q1 *3 *3 Corporate Financial Corp
Slide 14: Segment Assets: Segments
Segment Assets: 10 Segments ✓ Segment assets were 16.6 Tln JPY (up 101.8 Bln JPY vs. end-FY25.3; -82.4 Bln JPY due to changes in forex） ✓ New loan originations at ORIX Bank, higher investment income in Insurance led to asset growth. Equity method investment account rose on profit growth in PE Invest
Slide 15: Shareholder Returns
Shareholder Returns ✓ Completed 40.9 Bln JPY of 100.0 Bln JPY share buyback program (as of end-Jul 2025, 41% of total) ✓ Forecast FY26.3 interim DPS equivalent to 39% of H1 net income Dividend per Share and Dividend Share Buybacks and Total Payout Ratio Payout Ratio (JPY) (Bln JPY) FY26.3 full-year
Slide 16: ROE & EPS Growth and Enhancing Corporate Value
ROE & EPS Growth and Enhancing Corporate Value ✓ Following announcement of three-year plan, CEO and COO actively engaged in direct dialogue with shareholders and investors in Japan and overseas ✓ ROE, EPS growth a key theme for three-year plan. Will promote management practices with a focus on capit
Slide 17: Segment Information
Segment Information 17 Copyright © ORIX Corporation All rights reserved.
Slide 18: Corporate Financial Services and Maintenance Leasing
Corporate Financial Services and Maintenance Leasing Segment profits: 23.6 Bln JPY YoY +3.8 Bln JPY（+19％） Segment assets: 1,870.0 Bln JPY YTD -14.6 Bln JPY（ -1％） ✓ Corporate Financial Service: Profits higher on growth in fee income ✓ Corporate Financial Services: Assets lower, primarily on sale of O
Slide 19: Corporate Financial Services and Maintenance Leasing - About the Business
Corporate Financial Services and Maintenance Leasing - About the Business ✓ Corporate Financial Services is ORIX’s core group relationship management (RM) platform, backed by strong regional presence and solid customer base ✓ Segment includes Auto, world leader in vehicles under management; Rentec,
Slide 20: Real Estate
Real Estate Segment profits : 35.9 Bln JPY YoY +21.9 Bln JPY（+157％） Segment assets: 1,151.9 Bln JPY YTD - 6.4Bln JPY（ - 1％） ✓ RE Investment and Facility Operation: Sold Hotel Universal Port VITA, office ✓ MICE-IR, other large projects ramping up, but controlling size of total buildings, other proper
Slide 21: Real Estate – About the Business
Real Estate – About the Business ✓ Carries out real estate development, rental and management; facilities operation; real estate asset management ✓ AUM has grown to 1.8 Tln JPY. Generate stable earnings by increasing recurring income, such as through the launch of ORIA Japan Real Estate Value Add Fu
Slide 22: PE Investment and Concession
PE Investment and Concession Segment profits: 24.0 Bln JPY YoY - 8.0 Bln JPY（ - 25％) Segment assets: 1,054.5 Bln JPY YTD +31.6 Bln JPY （+3％） ✓ PE Investment: Earnings at investees such as DHC, Toshiba remain strong, ✓ Assets up on acquisition of LULUARQ, a capsule toy specialty store profits higher
Slide 23: PE Investment and Concession – About the Business
PE Investment and Concession – About the Business ✓ Currently invested in 18 companies*1 (as of end-Jun 2025). Investment gains from exits are steadily increasing, along with the size of investments. Investment Track Record Investee Companies Initial Leveraging our broad network and Management IT Se
Slide 24: Environment and Energy
Environment and Energy Segment profits: 17.9 Bln JPY YoY +18.4 Bln JPY (return to black) Segment assets: 992.6 Bln JPY YTD - 23.6 Bln JPY ( - 17.2 Bln JPY from forex） ✓ Domestic energy: Profits up sharply on sale of Zeeklite, started operation at ✓ Assets lower on sale of Zeeklite, forex impact Kino
Slide 25: Environment and Energy – about the business
Environment and Energy – about the business ✓ Total net owned operating capacity of 4.7 GW*1 worldwide *Overview of Energy and Environment Business and Services can be found here. ✓ Since FY21.3, have expanded capacity in solar, onshore wind, and hydropower generation – primarily overseas Segment As
Slide 26: Insurance
Insurance Segment profits : 24.1 Bln JPY YoY +2.1Bln JPY（+10％） Segment assets: 3,047.7 Bln JPY YTD+38.5 Bln JPY（ - 21.2 Bln JPY from forex） ✓ Profits higher YoY on growth in investment income, also saw sharp increase ✓ Assets higher on increase in investment assets due to ongoing replacement QoQ as
Slide 27: Insurance – About the Business
Insurance – About the Business ✓ Business model shifted from one dominated by sales of third-sector products (such as medical insurance) to a more well- balanced portfolio with introduction of first-sector products, which have higher contract values. Achieved growth in annualized premiums of new con
Slide 28: Banking and Credit
Banking and Credit Segment profits : 9.9 Bln JPY YoY +3.5.Bln JPY（+55％） Segment assets: 3,216.5 Bln JPY YTD+71.9 Bln JPY（+2％） ✓ Finance revenues up on increase in interest rates. Interest rate risk, ✓ New executions in merchant banking, real estate investment deposit funding risk are limited, but se
Slide 29: Banking – About the Business
Banking – About the Business ✓ In addition to its mainstay real-estate investment loan business, ORIX Bank is strengthening its business financing industries which support a sustainable society ✓ Aims to achieve sustainable growth and improve ROA while controlling quality, size of asset base, by uti
Slide 30: Aircraft and Ships
Aircraft and Ships Segment profits: 9.9 Bln JPY YoY-1.9 Bln JPY（-16%） Segment assets: 1,208.4Bln JPY YTD - 23.5 Bln JPY （ - 28.6 Bln JPY from forex） ✓ Aircraft leasing: Profits slightly lower YoY, but leasing income ✓ Aircraft leasing: Assets higher on growth in owned fleet higher on improved lease
Slide 31: Aircraft and Ships – About the Business
Aircraft and Ships – About the Business (as of end-Jun 2025) ORIX Aviation (Business since 1978) Owned, Managed, and Committed Fleet APAC Wide body 16% 19% 113 Average age EMEA 139 151 152 6.6 years Managed Fleet 154 163 42% GLOBALLY NARROWBODY Boeing OEM BREAKDOWN Airbus 141 144 DIVERSE WEIGHTING 4
Slide 32: ORIX USA
ORIX USA Segment profits : 0.6 Bln JPY YoY -11.2 Bln JPY（ - 95%） Segment assets: 1,588.2 Bln JPY YTD - 5.7 Bln JPY （ - 51.7Bln JPY from forex） ✓ Initial FY26.3 outlook forecasts earnings to be concentrated in H2 ✓ USD-denominated assets higher on bolt-on acquisition aimed at ✓ Private Credit: Profit
Slide 33: ORIX USA – About the Business
ORIX USA – About the Business ✓ A provider of capital and financing solutions to middle market companies in USA, targets growth in asset management for three verticals (total AUM / AUA $77.2 Bln) ✓ Operates a hybrid strategy, investing own principal capital while providing capital market and asset m
Slide 34: ORIX Europe
ORIX Europe Segment profits : 9.9 Bln JPY YoY-1.2 Bln JPY（-11%） Segment assets: 716.1 Bln JPY YTD +46.8 Bln JPY（+32.0 Bln JPY from forex） ✓ Profits lower on reduction in performance fees, but management ✓ Assets higher, in part due to forex fees in an uptrend thanks to expansion in AUM ✓ AUM hit rec
Slide 35: ORIX Europe – About the Business
ORIX Europe – About the Business ✓ Asset management business including traditional equities, fixed income, commodities, renewable energy and other fund management ✓ Focus on maximizing growth in asset management business by capitalizing on global network (e.g. ROBECO’s Asia strategy) Major Group Com
Slide 36: Asia and Australia
Asia and Australia Segment profits : 9.0 Bln JPY YoY+0.1 Bln JPY（+1%） Segment assets: 1,712.6 Bln JPY YTD-13.0 Bln JPY (+4.2 Bln JPY from forex） ✓ Profits rose on higher financial income, primarily in Australia, ✓ Leases, lending up, mainly in Australia, Singapore Singapore ✓ Meanwhile, maintain sta
Slide 37: Asia and Australia – About the Business
Asia and Australia – About the Business ✓ Leasing primarily for industrial equipment and automobiles, as well as PE investment business mainly in Greater China (Bln JPY) Segment Assets by Business Segment Asset Trends by Major Country and Region 1 South Korea 2 China 3 Australia Leases, Loans*1 Inve
Slide 38: Appendix
Appendix 38 Copyright © ORIX Corporation All rights reserved.
Slide 39: ORIX by the Numbers
ORIX by the Numbers *All figures based on FY25.3 or end-FY25.3 data unless otherwise indicated. Strong profitability High growth Leading renewable energy Net income CAGR provider in Japan Net income ROE (FY13.3-FY25.3) Renewable energy generating capacity (worldwide) *2 351.6 Bln JPY 8.8% 10％ 4.7GW
Slide 40: About ORIX: Expertise in Business and Collective Capabilities of the Group
About ORIX Expertise in Business and Collective Capabilities of the Group ✓ ORIX will continue to enhance our expertise in finance and tangible assets as we synergistically expand our businesses 40 Copyright © ORIX Corporation All rights reserved.
Slide 41: About ORIX: Proven Track Record of Profitability
About ORIX Proven Track Record of Profitability ✓ ORIX has been profitable for 60 straight years Net Income Attributable to ORIX Corporation Shareholders FY25.3 (Bln JPY) Record profits 400 FY21.3 COVID pandemic 350 300 FY09.3 Global financial crisis 250 FY02.3 IT bubble bursts 200 FY98.3 Asian curr
Slide 42: Breakdown of Segment Profits: Base Profits and Investment Gains
Breakdown of Segment Profits: Base Profits and Investment Gains FY26.3Q1 Base 122.2 Bln JPY YoY+18.4 Bln JPY（+18％） Segment profits profits Base profits up on higher profit contributions from PE investees 164.9 Bln JPY +20% YoY Investment 42.7 Bln JPY YoY+9.2Bln JPY（+27％） (+27.6 Bln JPY) gains Capita
Slide 43: Capital Recycling Profit Growth
Capital Recycling Profit Growth ✓ Accelerating capital recycling model led to company-wide net income growth of 3.1X, CAGR of 10% (FY25.3 vs FY13.3) Yayoi RoadSafe Acquisition /new Wako Pallet business （Signed contract to acquire stake) Houlihan ORIX Living Yayoi ORIX Credit (partial stake) Sale Mon
Slide 44: Investment Gains and Major Breakdown
Investment Gains and Major Breakdown (JPY) Segment FY20.3 FY21.3 FY22.3 FY23.3 FY24.3 FY25.3 39.9 Bln 53.6 Bln 16.9 Bln 21.4 Bln 29.5 Bln 34.1 Bln (43.2 Bln*） Real Estate ) Property under facilities ORIX Living, etc. Logistics centers ops., logistics centers Multi-use complex 32.0 Bln PE Investment
Slide 45: Roadmap for Asset Management
Roadmap for Asset Management (From FY25.3 results presentation announced in May 2025) ✓ Grow asset management fee income by capitalizing on origination capabilities, value enhancement model ✓ Expand AUM by proactively using third-party capital, primarily in private assets and real assets (Bln JPY) (
Slide 46: ORIX Group - Asset Management Business
ORIX Group - Asset Management Business ✓ Expansion in asset management business centered on Europe, US supports base profit growth ✓ Focus on management of diversified asset base, in addition to equities, fixed income, and alternative assets (Top domestic manager of renewable energy, aircraft, condo
Slide 47: Financials: D/E Ratio, ROE, Employed Capital Ratio, Credit Ratings
Financials: D/E Ratio, ROE, Employed Capital Ratio, Credit Ratings ✓ Maintained appropriate employed capital ratio through progress in capital recycling (impact from sale of partial stake in Greenko to be reflected in Q2) Shareholders’ Equity / D/E Ratio, ROE Credit ratings Employed Capital Ratio*1
Slide 48: Financials: Funding Structure and Interest Rate/Forex Sensitivity
Financials: Funding Structure and Interest Rate/Forex Sensitivity ✓ Diversified funding structure ✓ Controlled funding costs while maintaining a high long-term debt ratio Funding Structure Trends in Funding Costs Interest Rate/Forex Sensitivity based on ALM （as of 2025/3/31) Interest rates ◼ JPY ： S
Slide 49: Long-Term Vision: Goal and Mgmt KPI
Long-Term Vision: Goal and Mgmt KPI (From FY25.3 results presentation announced in May 2025) Goal for FY2035.3 Making Impact through “Alternative Investments & Operations” and “Business Solutions” ◼ Realize sustainable cycle of growth utilizing our two core strengths: ORIX’s business models of alter
Slide 50: Long-term Vision: Focus Areas & Business Models
(From FY25.3 results presentation Long-term Vision: Focus Areas & Business Models announced in May 2025) ✓ Realize growth cycle through combination of two business models in three focus areas Focus Areas PATHWAYS Aim to achieve new areas of impact for the future economy with a focus on technological
Slide 51: Long-term Vision: Initiatives for Realizing Vision
(From FY25.3 results presentation Long-term Vision: Initiatives for Realizing Vision announced in May 2025) ✓ Key initiatives for achieving long-term vision: disciplined portfolio management, sophisticated risk management, new business creation ✓ Move forward with portfolio optimization to achieve m
Slide 52: New Three-Year Plan: ROE Improvement
(From FY25.3 results presentation announced New Three-Year Plan: ROE Improvement in May 2025 with some updates) ✓ Finance： Grow assets in areas where economy is expanding, increase non-financial income through shift to asset manager model (off B/S) ✓ Operation： Enhance broadly-defined asset manageme
Slide 53: New Three-Year Plan: Shareholders’ Equity and Capital Allocation
(From FY25.3 results presentation New Three-Year Plan: Shareholders’ Equity and Capital Allocation announced in May 2025) ✓ In the three years ending FY28.3, ORIX will accelerate EPS growth while using flexible share buybacks to control equity levels (assume maintaining A credit rating) ✓ Will utili
Slide 54: Long-term Vision and New Three-Year Plan: Summary
(From FY25.3 results presentation Long-term Vision and New Three-Year Plan: Summary announced in May 2025) ✓ Long-term vision is achieving ROE of 15%, net income of 1 Tln JPY, and “Making Impact through Alternative Investments & Operations and Business Solutions” ✓ Aim to achieve FY28.3 milestone ta
Slide 55: Roadmap for ROE & Profits
(From FY25.3 results presentation Roadmap for ROE & Profits announced in May 2025) ✓ FY35.3 targets: ROE 15%, Net income of 1 Tln JPY ✓ Focus on sustainable growth in base profit (primarily in Operation), aim to maximize capital gains with individual deals in Investments, other areas 16.0% １Tln JPY
Slide 56: Human Capital and Business Growth
(From FY25.3 results presentation Human Capital and Business Growth announced in May 2025) ✓ ORIX’s approach to human capital management, a source of our competitive strength, has three components: instilling our core values, enhancing our core capabilities and providing a workplace in which people
Slide 57: ESG
ESG ✓ ORIX’s Board of Directors now has a majority of outside directors, making progress towards achievement of other key goals, including GHG emissions reductions ✓ Enhanced human capital management-related disclosure in 2024 Integrated Report * 2024 Integrated Report is here Scores by ESG Rating A
Slide 58: Disclaimer
Disclaimer ◼ These materials have been prepared by ORIX Corporation (“ORIX” or the “Company”) solely for your information and are subject to change without notice. The information contained in these materials has not been independently verified and its accuracy is not guaranteed. No representations,
Slide 59: ORIX Corporation
For the current IR materials and archives of past financial data, please access our website. IR Section https://www.orix.co.jp/grp/en/ir/ IR Library https://www.orix.co.jp/grp/en/ir/library/ ORIX Corporation Investor Relations and Sustainability Department Tel: +81-3-3435-3121