# ORIX CORPORATION: business model and financials

> Latest period: FY ending Mar 2026, consolidated, US GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第63期(2025/04/01－2026/03/31) (S100YG5L)
> Page: https://vizora.meequs.com/en/company/orix
> Retrieved: 2026-09-30T18:28:22.888Z

## Company

ORIX, founded in 1964, is a company in Leasing listed on TSE Prime. It has 37,286 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | ORIX CORPORATION |
| Ticker | 8591 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8591.T) |
| Listing | TSE Prime |
| Head office | 東京都港区浜松町2丁目4番1号 世界貿易センタービル南館内 |
| Representative (per filing) | 代表執行役 髙橋 英丈 |
| Founded | Apr 1964 |
| Employees (consolidated) | 37,286 |
| Average salary (parent only) | ¥10.4M |
| Fiscal year end | March |
| Website | www.orix.co.jp (https://www.orix.co.jp/) |
| Corporate number | 8010401006942 |
| EDINET | E04762 |
| Industries (Vizora) | Leasing |

> Profile source: annual securities report (S100YG5L, filed 2026-06-22). As of filing

## Key points (generated from figures)

- ORIX brought in ¥3.33T in revenue.
- Revenue changed +15.9% from the prior year.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥3.33T |  |
| Operating income | — | Margin — |
| Net income | ¥447.3B | Margin 13.4% |
| Free cash flow | — |  |
| Employees (consolidated) | 37,286 |  |
| EPS | ¥386.53 |  |
| Book value per share | ¥1152.71 |  |
| Equity ratio | 24.9% |  |
| Shares outstanding | 1,124,106,624 |  |
| Treasury shares | 22,694,900 |  |
| Shareholders | 661,289 |  |
| Average salary (parent only) | ¥10.4M | Filing company only |
| Cash ratio | 8.1% | Cash ÷ revenue 43.6% |
| ROA | 2.6% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 3.1× net income

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥2292357000000 | ¥3330831000000 | +45.3% |
| Employees | 33,153 people | 37,286 people | +12.5% |
| Cash and equivalents | ¥1079575000000 | ¥1451099000000 | +34.4% |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 3,330,831 | 100.0% | S100YG5L |
| Pretax income | 691,431 | 20.8% | S100YG5L |
| Net income attributable to owners | 447,265 | 13.4% | S100YG5L |

Operating income is not available as a machine-readable numeric value for this company. See the income statement table in its filing.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 2,874,821 | 3,330,831 | 456,010 | +15.9% |
| Net income attributable to owners | 351,630 | 447,265 | 95,635 | +27.2% |
| Operating cash flow | 1,300,193 | 1,369,567 | 69,374 | +5.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 2,678,659 | — | — | 273,239 | 583,800 | — | S100LU21 |
| FY ending Mar 2018 | 2,862,771 | — | — | 313,135 | 568,791 | — | S100OKI8 |
| FY ending Mar 2019 | 2,434,864 | — | — | 323,745 | 587,678 | — | S100R3ZX |
| FY ending Mar 2020 | 2,283,000 | — | — | 302,700 | 1,042,466 | — | S100TVRC |
| FY ending Mar 2021 | 2,292,357 | — | — | 192,384 | 1,102,414 | — | S100W3GQ |
| FY ending Mar 2022 | 2,508,043 | — | — | 317,376 | 1,103,370 | — | S100YG5L |
| FY ending Mar 2023 | 2,663,659 | — | — | 290,340 | 913,088 | — | S100YG5L |
| FY ending Mar 2024 | 2,814,361 | — | — | 346,132 | 1,243,402 | — | S100YG5L |
| FY ending Mar 2025 | 2,874,821 | — | — | 351,630 | 1,300,193 | — | S100YG5L |
| FY ending Mar 2026 | 3,330,831 | — | — | 447,265 | 1,369,567 | — | S100YG5L |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥89.3M |
| Net income per employee (consolidated) | ¥12M |

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) | 32,235 | 34,737 | 33,807 | 33,982 | 37,286 |
| Average salary (parent company) | ¥8.9M | ¥9.1M | ¥9.2M | ¥9.8M | ¥10.4M |
| Average age (parent company) | 43.7 years | 44.0 years | 44.1 years | 44.2 years | 44.2 years |
| Average tenure (parent company) | 15.6 years | 16.0 years | 16.1 years | 16.2 years | 15.8 years |

Year over year: Employees (consolidated) +9.7% · Revenue (consolidated) +15.9%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 1,369,567 | 41.1% | S100YG5L |
| Investing cash flow | -1,114,671 | -33.5% | S100YG5L |
| Financing cash flow | -160,535 | -4.8% | S100YG5L |
| Change in cash | 94,361 | 2.8% | 算出 |
| Cash and equivalents | 1,451,099 | 43.6% | S100YG5L |

## 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 | 1,091,812 | 1,366,908 | 1,185,307 | 1,321,983 | 1,451,099 | S100YG5L |
| Total assets | 14,280,684 | 15,289,385 | 16,322,100 | 16,866,251 | 18,002,776 | S100YG5L |

### 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 | 14,280,684 | 15,289,385 | 16,322,100 | 16,866,251 | 18,002,776 |
| Equity | — | — | — | — | — |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,091,812 | 1,366,908 | 1,185,307 | 1,321,983 | 1,451,099 |

### 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) | 8.1% |
| Cash ÷ revenue | 43.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 922,302 JPY mn (of net income 206.2%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | — |
| Investing CF relative to operating CF | 81.4% |

## 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 | — | —× | 2.2% | —× | — | S100YG5L |
| 2023 | — | —× | 2.0% | —× | — | S100YG5L |
| 2024 | — | —× | 2.2% | —× | — | S100YG5L |
| 2025 | — | —× | 2.1% | —× | — | S100YG5L |
| 2026 | — | —× | 2.6% | —× | — | S100YG5L |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社(信託口) | Major shareholder | 18.8% | 2026-03-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 8.0% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001 (常任代理人名 株式会社みずほ銀行決済営業部) | Major shareholder | 3.2% | 2026-03-31 |
| CITIBANK, N.A. -NY, AS DEPOSITARY BANK FOR DEPOSITARY SHARE HOLDERS (常任代理人名 シティバンク、エヌ・エイ東京支店 カストディ業務部) | Major shareholder | 3.0% | 2026-03-31 |
| JP MORGAN CHASE BANK 385642 (常任代理人名 株式会社みずほ銀行決済営業部) | Major shareholder | 1.7% | 2026-03-31 |
| JP MORGAN CHASE BANK 385781 (常任代理人名 株式会社みずほ銀行決済営業部) | Major shareholder | 1.5% | 2026-03-31 |
| BNYM AS AGT/CLTS 10 PERCENT (常任代理人名 株式会社三菱UFJ銀行) | Major shareholder | 1.4% | 2026-03-31 |
| GOVERNMENT OF NORWAY (常任代理人名 シティバンク、エヌ・エイ東京支店 カストディ業務部) | Major shareholder | 1.2% | 2026-03-31 |
| SIX SIS LTD. (常任代理人名 株式会社三菱UFJ銀行) | Major shareholder | 0.9% | 2026-03-31 |
| THE CHASE MANHATTAN BANK, N.A. LONDONSECS LENDING OMNIBUS ACCOUNT (常任代理人名 株式会社みずほ銀行決済営業部) | Major shareholder | 0.9% | 2026-03-31 |

## AI commentary（text by AI; the tables above are authoritative、claude-code）

- Revenue reached ¥3.33T in the FY ending Mar 2026, up +15.9% from ¥2.87T.
- Net income rose faster, +27.2% to ¥447.3B.
- Not every unit joined in: ORIX USA, the aircraft and ship business, and banking all earned less.

### Drivers

- Real estate, energy, insurance, private equity and concessions, and ORIX Europe posted higher segment profit
- Banking and credit, aircraft and ships, and ORIX USA posted lower segment profit

### Risks

- US tariffs and policy shifts, the Middle East, the war in Ukraine, and higher building costs could weigh on results
- A sudden move in interest rates or a weaker economy could force bigger bad-loan provisions
- A lower credit rating would make bonds and bank loans more expensive

Cited: Annual Securities Report, 63rd fiscal year (Apr 2025 - Mar 2026) (経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析); Annual Securities Report, 63rd fiscal year (Apr 2025 - Mar 2026) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第63期(2025/04/01－2026/03/31) | S100YG5L | 2026-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YG5L,, |
| 有価証券報告書－第62期(2024/04/01－2025/03/31) | S100W3GQ | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W3GQ,, |
| 有価証券報告書－第61期(2023/04/01－2024/03/31) | S100TVRC | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TVRC,, |
| 有価証券報告書－第60期(2022/04/01－2023/03/31) | S100R3ZX | 2023-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R3ZX,, |
| 有価証券報告書－第59期(令和3年4月1日－令和4年3月31日) | S100OKI8 | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OKI8,, |
| 有価証券報告書－第58期(令和2年4月1日－令和3年3月31日) | S100LU21 | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LU21,, |

## 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).