# Orient Corporation: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第66期(2025/04/01－2026/03/31) (S100YCKH)
> Page: https://vizora.meequs.com/en/company/orient
> Retrieved: 2026-09-30T19:48:28.616Z

## Company

Orient, founded in 1979, is a company in Credit Cards & Consumer Credit listed on TSE Prime. It has 6,411 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Orient Corporation |
| Ticker | 8585 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8585.T) |
| Listing | TSE Prime |
| Head office | 東京都千代田区麹町5丁目2番地1 |
| Representative (per filing) | 代表取締役社長 梅宮 真 |
| Founded | Sep 1979 |
| Share capital | ¥150.1B |
| Employees (consolidated) | 6,411 |
| Average salary (parent only) | ¥6.7M |
| Fiscal year end | March |
| Website | www.orico.co.jp (https://www.orico.co.jp/) |
| Corporate number | 9010001070784 |
| EDINET | E04775 |
| Industries (Vizora) | Credit Cards & Consumer Credit, Consumer Finance |

> Profile source: annual securities report (S100YCKH, filed 2026-06-17). As of filing

## Key points (generated from figures)

- About 33% of Orient's sales come from Installment credit, with Credit cards and direct cash loans and Bank loan guarantee making up much of the rest.
- Out of every ¥100 of sales, about ¥6 is left as operating profit.
- Revenue changed +1.0% from the prior year, operating profit +17.0%.

## Company structure

- Segment revenue mix: Installment credit 33.0%、Credit cards and direct cash loans 30.7%、Bank loan guarantee 16.1%、Settlement and guarantee 11.2%、overseas 5.4%
- Revenue → net income: ¥247631000000 → ¥12236000000
- Net income → operating cash flow: ¥12236000000 → ¥22123000000（difference ¥9887000000）
- Main uses of operating cash flow: CapEx ¥17173000000 / dividends ¥6871000000 / buybacks ¥107000000
- Change in cash: ¥-66707000000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥247.6B |  |
| Operating income | ¥14.4B | Margin 5.8% |
| Net income | ¥12.9B | Margin 5.2% |
| Free cash flow | ¥4.95B |  |
| Largest business | Installment credit | of segment revenue 33.0% |
| Employees (consolidated) | 6,411 |  |
| EPS | ¥56.05 |  |
| Diluted EPS | ¥56.05 |  |
| Book value per share | ¥1193.42 |  |
| Equity ratio | 8.8% |  |
| Shares outstanding | 171,888,000 |  |
| Treasury shares | 27,800 |  |
| Shareholders | 20,761 |  |
| Average salary (parent only) | ¥6.7M | Filing company only |
| Cash ratio | 5.4% | Net cash -¥1.1T · Cash ÷ revenue 62.4% |
| Vs. industry median margin | -12.3 pp | Credit Cards & Consumer Credit |
| ROE | 5.5% | Derived from disclosed figures |
| ROA | 0.5% | Derived from disclosed figures |

## Notable figures

- FY2026, employees -4% while operating income rose 17%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥229793000000 | ¥247631000000 | +7.8% |
| Operating income | ¥22553000000 | ¥14444000000 | -36.0% |
| Operating margin | 9.8% | 5.8% | -4 pp |
| Employees | 4,966 people | 6,411 people | +29.1% |
| Cash and equivalents | ¥385176000000 | ¥154579000000 | -59.9% |

### Change in segment revenue mix

Span: FY ending Mar 2021 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 決済・保証 → 決済・保証 | 7.5% |
| カード・融資 → カード・融資 | 30.7% |
| カード・融資 → 事業再編・廃止 | 2.6% |
| 個品割賦 → 個品割賦 | 33.0% |
| 個品割賦 → 事業再編・廃止 | 5.0% |
| 銀行保証 → 銀行保証 | 16.1% |
| 銀行保証 → 事業再編・廃止 | 1.4% |
| その他 → その他 | 3.6% |
| その他 → 事業再編・廃止 | 0.1% |
| 新設・再編 → 決済・保証 | 3.7% |
| 新設・再編 → 海外 | 5.4% |

Segment revenue source references: 11 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| Installment credit | 5 years | -1.3% | ¥77002000000 | 50.4% | 2 |
| Credit cards and direct cash loans | 5 years | -0.1% | ¥71612000000 | 83.8% | 2 |
| Bank loan guarantee | 5 years | -0.1% | ¥37610000000 | 55.5% | 2 |
| Settlement and guarantee | 5 years | +10.0% | ¥26007000000 | 44.9% | 2 |
| overseas | 4 years | +18.3% | ¥12495000000 | -17.5% | 2 |
| Other | 5 years | +0.8% | ¥8386000000 | 35.6% | 2 |

## Income statement（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 247,631 | 100.0% | S100YCKH |
| SG&A | 203,069 | 82.0% | S100YCKH |
| Operating income | 14,444 | 5.8% | S100YCKH |
| Ordinary income | 14,444 | 5.8% | S100YCKH |
| Pretax income | 14,170 | 5.7% | S100YCKH |
| Income tax | 1,934 | 0.8% | S100YCKH |
| Net income | 12,236 | 4.9% | S100YCKH |
| Net income attributable to owners | 12,889 | 5.2% | S100YCKH |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Operating expenses | 94 |
| Operating income | 6 |
| (Ref.) Net income | 5 |

### Margin funnel

Operating margin 5.8% → Net margin 5.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +1.0%; Core profit growth: +17.0%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 17.67×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 245,270 | 247,631 | 2,361 | +1.0% |
| Operating income | 12,344 | 14,444 | 2,100 | +17.0% |
| Net income attributable to owners | 13,943 | 12,889 | -1,054 | -7.6% |
| Operating cash flow | 2,619 | 22,123 | 19,504 | +744.7% |
| Free cash flow | -12,202 | 4,950 | 17,152 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 243,135 | 24,439 | 10.1% | 20,654 | -66,772 | -82,067 | S100LOZB |
| FY ending Mar 2021 | 229,793 | 22,553 | 9.8% | 19,695 | 54,580 | 41,744 | S100OFS9 |
| FY ending Mar 2022 | 229,806 | 28,994 | 12.6% | 19,476 | 81,757 | 69,005 | S100RC4E |
| FY ending Mar 2023 | 227,693 | 23,070 | 10.1% | 19,035 | 32,201 | 19,066 | S100TRIB |
| FY ending Mar 2024 | 229,054 | 16,118 | 7.0% | 12,571 | -43,465 | -57,129 | S100WARP |
| FY ending Mar 2025 | 245,270 | 12,344 | 5.0% | 13,943 | 2,619 | -12,202 | S100YCKH |
| FY ending Mar 2026 | 247,631 | 14,444 | 5.8% | 12,889 | 22,123 | 4,950 | S100YCKH |

## People and productivity（FY ending Mar 2026, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥38.6M |
| Operating income per employee (consolidated) | ¥2.3M |
| Net income per employee (consolidated) | ¥2M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 6,084 | 6,098 | 6,729 | 6,683 | 6,411 |
| Average salary (parent company) | ¥5.9M | ¥6.1M | ¥6.1M | ¥6.3M | ¥6.7M |
| Average age (parent company) | 41.9 years | 42.4 years | 42.5 years | 42.7 years | 43.1 years |
| Average tenure (parent company) | 16.7 years | 16.9 years | 16.9 years | 17.0 years | 17.3 years |

Year over year: Employees (consolidated) -4.1% · Revenue (consolidated) +1.0%

## Segments（FY ending Mar 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Settlement and guarantee | 26,007 | 11.2% | 11,669 | 44.9% |
| overseas | 12,495 | 5.4% | -2,192 | -17.5% |
| Credit cards and direct cash loans | 71,612 | 30.7% | 60,014 | 83.8% |
| Installment credit | 77,002 | 33.0% | 38,773 | 50.4% |
| Bank loan guarantee | 37,610 | 16.1% | 20,888 | 55.5% |
| Other | 8,386 | 3.6% | 2,989 | 35.6% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| Settlement and guarantee | 11.2% | 8.7% | -2.5 | 44.9% |
| overseas | 5.4% | — | — | -17.5% |
| Credit cards and direct cash loans | 30.7% | 44.7% | 14.0 | 83.8% |
| Installment credit | 33.0% | 28.9% | -4.2 | 50.4% |
| Bank loan guarantee | 16.1% | 15.5% | -0.6 | 55.5% |
| Other | 3.6% | 2.2% | -1.4 | 35.6% |

Loss-making segment (excluded from profit shares): overseas -2,192 JPY mn

Segment → industry: Bank loan guarantee → Credit Cards & Consumer Credit / Installment credit → Credit Cards & Consumer Credit / Credit cards and direct cash loans → Credit Cards & Consumer Credit / overseas → Credit Cards & Consumer Credit / Settlement and guarantee → Credit Cards & Consumer Credit / Bank loan guarantee → Consumer Finance

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 22,123 | 8.9% | S100YCKH |
| Capital expenditure | 17,173 | 6.9% | S100YCKH |
| Free cash flow | 4,950 | 2.0% | 算出 |
| Investing cash flow | -21,164 | -8.5% | S100YCKH |
| Financing cash flow | -68,039 | -27.5% | S100YCKH |
| Dividends paid | 6,871 | 2.8% | S100YCKH |
| Share buyback | 107 | 0.0% | S100YCKH |
| Change in cash | -66,707 | -26.9% | S100YCKH |
| Cash and equivalents | 154,579 | 62.4% | S100YCKH |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 408,187 | 339,844 | 479,360 | 216,805 | 154,579 | S100TRIB, S100WARP, S100YCKH |
| Total assets | 3,752,049 | 2,413,949 | 3,147,783 | 2,881,698 | 2,844,481 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Net assets | 216,837 | 229,775 | 245,683 | 246,559 | 257,188 | S100TRIB, S100WARP, S100YCKH |
| Share capital | 150,069 | 150,075 | 150,075 | 150,075 | 150,079 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Trade receivables | 216 | 302 | 333 | 588 | 481 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Property, plant and equipment | 88,179 | 86,457 | 86,029 | 86,917 | 84,666 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Intangible assets excluding goodwill | 110,335 | 97,791 | 94,205 | 88,085 | 83,773 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Goodwill | 1,359 | 1,112 | 3,759 | 4,247 | 3,521 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Investment securities | 17,383 | 28,057 | 24,938 | 21,921 | 26,761 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Current assets | 3,458,851 | 2,128,473 | 2,842,125 | 2,584,626 | 2,542,352 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Current liabilities | 2,533,789 | 1,153,249 | 1,812,546 | 1,445,661 | 1,417,487 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Trade payables | 133,807 | 122,725 | 187,598 | 168,282 | 161,882 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Short-term borrowings | 95,652 | 126,165 | 509,609 | 193,396 | 172,142 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Long-term borrowings | 753,106 | 808,218 | 856,164 | 863,482 | 868,143 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Bonds | 205,000 | 185,000 | 195,000 | 210,000 | 215,000 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Interest-bearing debt | 1,053,758 | 1,119,383 | 1,560,773 | 1,266,878 | 1,255,285 | 算出 |
| Total liabilities | 3,535,211 | 2,184,174 | 2,902,099 | 2,635,138 | 2,587,293 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Non-controlling interests | 2,296 | 2,601 | 7,469 | 7,223 | 6,722 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Equity attributable to owners of parent | 203,909 | 217,652 | 223,353 | 230,126 | 235,437 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Retained earnings | 53,267 | 67,146 | 72,843 | 79,912 | 85,406 | S100RC4E, S100TRIB, S100WARP, S100YCKH |
| Treasury stock | -353 | -502 | -498 | -794 | -789 | S100RC4E, S100TRIB, S100WARP, S100YCKH |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 5% | S100YCKH |
| Receivables | 0% | S100YCKH |
| Property, plant and equipment | 3% | S100YCKH |
| Intangibles and goodwill | 3% | S100YCKH |
| Investment securities | 1% | S100YCKH |
| Other assets | 88% | S100YCKH |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 6% | S100YCKH |
| Interest-bearing debt | 44% | 算出 |
| Other liabilities | 41% | S100YCKH |
| Equity | 9% | S100YCKH |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 3,752,049 | 2,413,949 | 3,147,783 | 2,881,698 | 2,844,481 |
| Equity | 216,837 | 229,775 | 245,683 | 246,559 | 257,188 |
| Interest-bearing debt | 1,053,758 | 1,119,383 | 1,560,773 | 1,266,878 | 1,255,285 |
| Cash | 408,187 | 339,844 | 479,360 | 216,805 | 154,579 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 34.2% | S100YCKH |
| Fixed assets ÷ total assets | 3.0% | S100YCKH |
| Goodwill ÷ parent equity | 1.5% | S100YCKH |

Goodwill over 4 years: 1,359 → 3,521 JPY; total investing cash flow: -118,297 JPY. This does not imply causation.

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 5.4% |
| Cash ÷ revenue | 62.4% |
| Net cash (cash − interest-bearing debt) | -¥1.1T |
| Net debt ÷ operating cash flow | 49.75× |
| Cash conversion (operating CF ÷ operating income) | 153.2% |
| Cash vs. profit gap | 9,234 JPY mn (of net income 71.6%) |
| Shareholder returns / net income | 54.1% |
| Shareholder returns / FCF | 141.0% |
| Shareholder payments — dividends / net income | 53.3% |
| Shareholder payments — dividends / FCF | 138.8% |
| CapEx intensity (capex ÷ revenue) | 6.9% |
| Investing CF relative to operating CF | 95.7% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 8.5% | 0.06× | 0.5% | 18.40× | 9.6% | S100RC4E |
| 2023 | 8.4% | 0.07× | 0.6% | 14.63× | 9.0% | S100TRIB |
| 2024 | 5.5% | 0.08× | 0.5% | 12.61× | 5.7% | S100WARP |
| 2025 | 5.7% | 0.08× | 0.5% | 13.30× | 6.1% | S100YCKH |
| 2026 | 5.2% | 0.09× | 0.5% | 12.30× | 5.5% | S100YCKH |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社みずほ銀行 | Major shareholder | 48.7% | 2026-03-31 |
| ＩＮＴＥＲＴＲＵＳＴ ＴＲＵＳＴＥＥＳ（ＣＡＹＭＡＮ）ＬＩＭＩＴＥＤ ＳＯＬＥＬＹ ＩＮ ＩＴＳ ＣＡＰＡＣＩＴＹ ＡＳ ＴＲＵＳＴＥＥ ＯＦ ＪＡＰＡＮ－ＵＰ （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 9.7% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 5.1% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 2.9% | 2026-03-31 |
| ＩＮＴＥＲＴＲＵＳＴ ＴＲＵＳＴＥＥＳ ＣＡＹＭＡＮ ＬＩＭＩＴＥＤ ＡＳ ＴＲＵＳＴＥＥ ＯＦ ＪＡＰＡＮ－ＵＰ ＵＮＩＴ ＴＲＵＳＴ （常任代理人 立花証券株式会社） | Major shareholder | 2.0% | 2026-03-31 |
| Ｊ．Ｐ．ＭＯＲＧＡＮ ＭＡＲＫＥＴＳ ＬＩＭＩＴＥＤ （常任代理人 ＪＰモルガン証券株式会社） | Major shareholder | 1.6% | 2026-03-31 |
| 中央日本土地建物株式会社 | Major shareholder | 1.1% | 2026-03-31 |
| ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５０５２２３ （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.1% | 2026-03-31 |
| ＪＰモルガン証券株式会社 | Major shareholder | 1.1% | 2026-03-31 |
| ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５０５００１ （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.0% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第66期(2025/04/01－2026/03/31) | S100YCKH | 2026-06-17 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YCKH,, |
| 訂正有価証券報告書－第65期(2024/04/01－2025/03/31) | S100WARP | 2025-07-03 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WARP,, |
| 有価証券報告書－第64期(2023/04/01－2024/03/31) | S100TRIB | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TRIB,, |
| 訂正有価証券報告書－第63期(2022/04/01－2023/03/31) | S100RC4E | 2023-07-05 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RC4E,, |
| 有価証券報告書－第62期(令和3年4月1日－令和4年3月31日) | S100OFS9 | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OFS9,, |
| 有価証券報告書－第61期(令和2年4月1日－令和3年3月31日) | S100LOZB | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LOZB,, |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).